BHP flags long China coal ban

Original article by Nick Evans
The Australian – Page: 13 & 16 : 21-Jul-21

BHP has advised that it produced a record 284.1 million tonnes of iron ore in the Pilbara region of Western Australia during 2020-21. The resources group shipped 283.9 million tonnes of iron ore from the Pilbara, compared with 283.3 million tonnes for the previous financial year. BHP expects to produce 278 to 288 million tonnes of iron ore in the Pilbara in 2021-22, while the group has warned that China’s ban on Australian coal imports is likely to remain in place for some time.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Rio feels pinch as labour hit slows exports

Original article by Nick Evans
The Weekend Australian – Page: 25 : 17-Jul-21

Rio Tinto’s iron ore shipments fell 12 per cent to 76.3 million tonnes in the June quarter, while its half-year shipments were down three per cent to 154.1 million tonnes. Rio cited a range of factors for the fall in shipments, including labour shortages and the need to revamp mine plans around Pilbara heritage sites. Rio’s previous full year guidance for shipments was between 325 to 340 million tonnes, and it now expects shipments to be at the lower end of its forecast. However, to even achieve that will require it to ship 171 million tonnes in the second half of 2021

CORPORATES
RIO TINTO LIMITED – ASX RIO

Metcash swings back into the black

Original article by Valerina Changarathil
The Australian – Page: 15 : 29-Jun-21

Grocery, hardware and liquor wholesaler Metcash released its results for the year to 30 April on 28 June, with Metcash reporting an after tax profit of $239 million. This compared to a loss of $56.8 million for the previous corresponding period, while underlying profit jumped 27 per cent to $252.7 million. Revenue was up almost 10 per cent to $14.3 billion, while operating cash flow increased from $117.5 million to $457.5 million. Metcash declared a dividend of $0.095, while it announced an off-market share buyback of about $175 million.

CORPORATES
METCASH LIMITED – ASX MTS

Inflation pressures are percolating: Nestle chief

Original article by Eli Greenblat
The Australian – Page: 13 & 17 : 24-Jun-21

Nestle Australia has revealed that it recorded sales of $2.37 billion for the 2020 calendar year, up 7.9 per cent. It posted a profit of $122.6 million, up from $30.7 million in 2019, with that result having been impacted by $48 million in impairments. Nestle Oceania CEO Sandra Martinez says the company has had deal with dramatic increases in costs over the past 12 months, covering everything from coffee to shipping containers. She says its increased costs will have to be passed onto consumers at some point.

CORPORATES
NESTLE AUSTRALIA LIMITED

Earnings jump sees CBA eye buybacks

Original article by Joyce Moullakis
The Australian – Page: 17 : 13-May-21

The Commonwealth Bank of Australia has posted unaudited cash earnings from continuing operations of $2.4bn for the March quarter, compared with about $1.3bn for the same period in 2020. CBA’s common equity tier one ratio was 12.7 per cent at the end of the quarter, well above the regulatory requirement of 10.5 per cent. CBA has more than $10bn of excess capital, and CEO Matt Comyn says its capital management plans are likely to be a key focus for investors when its full-year earnings are released in August. Brett Le Mesurier of Velocity Trade expects CBA to return up to $12bn to investors in the 2022 and 2023 fiscal years via a share buyback

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, VELOCITY TRADE LIMITED

Record production in sight for BHP

Original article by Nick Evans
The Australian – Page: 16 : 22-Apr-21

BHP’s quarterly activities report shows that it shipped 66 million tonnes of iron ore from the Pilbara in the March quarter. This compares with 70.8 million tonnes in the December quarter and 68.5 million tonnes during the first three months of 2020. However, the fall in export volumes had been flagged by BHP in early 2021. The resources giant will only need to ship 73.1 million tonnes in the June quarter to exceed its 2019-20 export total of 283.3 million tonnes. BHP’s full-year profits will be boosted by the continued strength of the iron ore price, which has reached a 10-year high of $US189.61 a tonne.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Amazon tops $1bn sales but still in red

Original article by David Ross
The Australian – Page: 15 : 9-Feb-21

Digital giant Amazon has advised that its Australian arm posted a loss of $3.8m in 2020, following a $2.5m loss previously. However, Amazon Australia boasted total sales of $1.12bn in 2020, compared with just $562.1m in 2019. The company’s online stores recorded sales totalling $511m, while its subscription services’ sales rose from $35.4m to $90m. Amazon entered the local market in late 2017, and it now employs nearly 1,000 people in Australia.

CORPORATES
AMAZON.COM INCORPORATED

The Agency to defy debt claim with sales jump

Original article by Lachlan Moffet Gray
The Australian – Page: 16 : 25-Jan-21

Real estate group The Agency has reported revenue of $29.1 million for its latest first half, with the result being a record for the company. Unaudited EBITDA for the half came in at $1.6 million, excluding government benefits like JobKeeper, while the company recorded positive operating cashflow of $1.54 million. The record revenue result came just days after a creditor sought to place The Agency in administration over a disputed fee of $385,000.

CORPORATES

Smaller loss may not spare embattled Lytton refinery

Original article by Lachlan Moffet Gray
The Australian – Page: 19 : 15-Jan-21

Ampol will still undertake a review of its Lytton refinery in Brisbane, despite the facility posting a lower-than expected loss for 2020. The refinery’s loss for the calendar year was $20m lower than the consensus forecasts of analysts, at $145m on a replacement cost of sales operating profit basis. The refinery produced 3.469 billion litres of fuel during 2020, compared with 5.8 billion litres in 2019. Ampol has cautioned that the economic outlook in 2021 remains uncertain due to the ongoing impact of COVID-19 on demand for fuel.

CORPORATES
AMPOL LIMITED – ALD

CBA profits cut despite growth in lending

Original article by James Frost, James Eyers
The Australian Financial Review – Page: 17 : 12-Nov-20

The Commonwealth Bank of Australia has reported a cash profit of $1.8bn for the September quarter, which is 16 per cent lower than previously. Household deposits increased by $15.8bn during the first three months of 2020-21, while mortgage lending increased by $5.6bn. CBA has advised that its net interest margin was lower than in the second half of 2019-20, primarily due to the impact of lower interest rates. CBA has also reported a sharp fall in the number of deferred loans since the end of the September quarter.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA