BUSINESS FORECASTING – AUSTRALIA

Woodside lifts output target

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Original article by Brian Robins
The Australian Financial Review – Page: 15 : 18-Jul-14

Australian-listed Woodside Petroleum produced 23.5 million barrels of oil equivalent in the second quarter of 2014, while sales were 24.8 per cent higher at $US1.67bn. There was an 8.7 per cent increase in output at the Pluto LNG project. Woodside now expects full-year output to be within the range of 89 million to 94 million barrels of oil equivalent

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, UBS HOLDINGS PTY LTD

Rio, FMG ramp up production rates

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Original article by Amanda Saunders
The Australian Financial Review – Page: 17 & 19 : 17-Jul-14

Both Rio Tinto and Fortescue Metals Group on 16 July 2014 announced promising output data for the quarter ending 30 June, with Rio even ahead of forecasts. Iron ore production at its operations in the Pilbara region of Western Australia was up 11% year-on-year to reach 73.1 million tonnes. Fortescue meanwhile has achieved an annualised iron ore shipments figure of 155 million tonnes. However the price per tonne in the three months was a fifth below the benchmark price, at just $US82

CORPORATES
RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, DEUTSCHE BANK AG

Woolies under pressure over Masters

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Original article by Sue Mitchell
The Australian Financial Review – Page: 20 : 16-Jul-14

Woolworths’ home improvements division posted a loss of $A139m in 2013, and financial market analysts expect the business to post higher losses in 2014 and 2015. Woolworths itself has forecast that the Masters hardware chain will achieve break-even status in 2016, but Goldman Sachs recently suggested that 2019 is more likely. There are also expectations that Woolworths’ 2013-14 financial results will include impairment charges related to the Masters business

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, LOWE’S COMPANIES INCORPORATED, HOME TIMBER AND HARDWARE, WESFARMERS BUNNINGS LIMITED, WESFARMERS LIMITED – ASX WES, MITRE 10 LIMITED, METCASH LIMITED – ASX MTS, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED

Post-budget uncertainty takes toll on CFO confidence

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Original article by Shaun Drummond
The Australian Financial Review – Page: 19 : 16-Jul-14

Deloitte has released the findings of its quarterly survey of Australian CFOs. Some 62 per cent of respondents expect the Federal Government’s May 2014 Budget to adversely affect the economy. Meanwhile, 38 per cent said the Budget will negatively affect their company, although 40 per cent anticipate no impact. The survey for the June quarter also found that 70 per cent of CFOs forecast revenue growth in the next 12 months

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED

Generational shift may end print: Murdoch

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Original article by Jake Mitchell
The Australian Financial Review – Page: 31 : 14-Jul-14

The co-chair of News Corporation, Rupert Murdoch, has commented on the future of print media in Australia. He was interviewed by Paul Kelly, editor at large at newspaper "The Australian". Murdoch, who had set up the new publication in 1964, said he was not certain that it would still exist in a format other than the digital version when it turns 70. He noted that younger readers prefer online newspapers, and that these also offer the opportunity to embed video content. Murdoch added that "The Australian" had often struggled to make a profit

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, LIBERAL PARTY OF AUSTRALIA

Rio ready to approve bauxite mine

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Original article by Amanda Saunders
The Australian Financial Review – Page: 21 : 1-Jul-14

Rio Tinto expects to approve its South of Embley bauxite project at Weipa in Queensland later in 2014. UBS analyst Glyn Lawcock estimates that the project will generate an internal rate of return of about 29 per cent. The mining company will benefit from strong demand for bauxite. The South of Embley project is forecast to produce 22.5 million tonnes of bauxite each year at the initial stage, possibly rising to 50 million tonnes a year

CORPORATES
RIO TINTO LIMITED – ASX RIO, ALCAN GOVE PTY LTD, JP MORGAN AUSTRALIA LIMITED, UBS HOLDINGS PTY LTD

Fortescue exec tips rebound for iron ore price

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Original article by Andrew Burrell
The Australian – Page: 17-18 : 30-Jun-14

Fortescue Metals Group is confident that the price of iron ore will recover. CFO Stephen Pearce feels that the drop to $US89 a tonne on 16 June 2014 was the bottom of the trough in the present price cycle. He believes that the price will rise to about $US110 a tonne and remain at that level for a while. His view is based on strong Chinese economic data and the market adjustment to the increase in supply. Pearce warned that prices of $US150 and above were not likely to occur again

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP

Pendulum sways to ‘Yes’

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 20-Jun-14

Westfield Retail Trust investors are expected to approve a restructuring of the group at a meeting on 20 June 2014. A vote on the proposed deal was postponed earlier in the month, when 25.9 per cent of proxy votes rejected the plan to merge the trust with the Australasian property portfolio of Westfield Group. Westfield Retail securities closed $A0.04 higher at $A3.21 on 19 June

CORPORATES
WESTFIELD RETAIL TRUST – ASX WRT, WESTFIELD GROUP – ASX WDC, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, UNISUPER LIMITED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED, COLONIAL FIRST STATE GROUP LIMITED, COLONIAL HOLDING COMPANY LIMITED – ASX CNG

Ten falls on weak outlook

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Original article by Vanessa Desloires, Tom Cowie
The Australian Financial Review – Page: 16 : 20-Jun-14

Australian-listed TV broadcaster Ten Network has advised that its 2013-14 revenue will be between 3.5 per cent and 4.5 per cent lower than previously. COO Paul Anderson has noted the difficult conditions in the TV advertising market and the low ratings for many of the network’s programs earlier in 2014. The group’s shares closed 6.9 per cent lower at $A0.27 on 19 June

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN

Super funds looking at 10pc-plus growth

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Original article by Clancy Yeates
The Australian Financial Review – Page: 20 : 20-Jun-14

Data from Chant West shows that the average Australian superannuation fund achieved a return of 1.1 per cent in May 2014, and 12.6 per cent in the first 11 months of the 2013-14 financial year. Director Warren Chant expects super funds to deliver a positive return for the fifth year in 2013-14, with a double-digit return likely for many funds. Shares, bonds and infrastructure are among the asset classes that have performed well in 2013-14

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD, SUPERRATINGS PTY LTD