COMPANY RESULTS – AUSTRALIA

Nine CEO met CoStar boss weeks before Domain bid

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 14 : 25-Feb-25

Nine Entertainment will release its half-yearly results today, with investors and analysts certain to question acting CEO Matt Stanton about CoStar’s bid for Domain. The US real estate firm has made a $2.40 per share for Domain, the online property classifieds platform that is 60 per cent owned by Nine and which is considered by many to be its most valuable asset. It can be revealed that CoStar founder Andy Florance met with Stanton when Florance was staying with former federal treasurer Joe Hockey in Sydney over the Christmas break, and that the two discussed possible opportunities involving CoStar and Domain.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, COSTAR GROUP INCORPORATED, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA

Fortescue posts record tonnes amid tariff threat

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Original article by Elouise Fowler
The Australian Financial Review – Page: 13 : 24-Jan-25

Pure-play iron ore miner Fortescue has advised that its shipments from the Pilbara rose to a record 97.1 million tonnes in the first half of 2024-25. This includes 49.4 million tonnes in the three months to 31 December. Fortescue has maintained its full-year guidance of 190-200 million tonnes. Fortescue’s shares have shed four per cent in recent days, amid fears that the tariff policies of US President Donald Trump will dampen the Chinese steel industry’s demand for iron ore.

CORPORATES
FORTESCUE LIMITED – ASX FMG, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Profit shock for Myer, Premier Investments

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Original article by Matt Bell
The Australian – Page: 13 & 14 : 14-Jan-25

Department store group Myer Holdings has advised that its sales totalled $1.59bn for the 22 weeks to December 28; this is 0.8 per cent lower than previously, and includes the crucial Black Friday, Christmas and Boxing Day sales. The trading update prompted investors to sell down Myer’s shares, with the stock falling 23.1 per cent to $0.88 on Monday. A deal to acquire the apparel brands of Premier Investments will be put to a vote of Myer shareholders on 23 January. Premier Investments has also indicated that weak sales will affect its earnings for the current half-year; its shares fell 15.9 per cent to $27.78.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

Profit shock for Myer, Premier Investments

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Original article by Matt Bell
The Australian – Page: 13 & 14 : 14-Jan-25

Department store group Myer Holdings has advised that its sales totalled $1.59bn for the 22 weeks to December 28; this is 0.8 per cent lower than previously, and includes the crucial Black Friday, Christmas and Boxing Day sales. The trading update prompted investors to sell down Myer’s shares, with the stock falling 23.1 per cent to $0.88 on Monday. A deal to acquire the apparel brands of Premier Investments will be put to a vote of Myer shareholders on 23 January. Premier Investments has also indicated that weak sales will affect its earnings for the current half-year; its shares fell 15.9 per cent to $27.78.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

$1.5bn loss as Lendlease transforms

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Original article by Ben Wilmot
The Australian – Page: 13 & 17 : 20-Aug-24

Property developer Lendlease has reported its latest annual results, with the company posting a headline $1.5 billion loss, which includes $1.38 billion of impairments and charges on businesses it is selling off. LendLease had announced in May that it was abandoning its global ambitions after pressure from a number of activist shareholders that included Tanarra Capital and HMC Capital, and that it would be returning around $4.5 billion in capital to Australia, where it hopes to secure projects with high returns.

CORPORATES
LENDLEASE GROUP – ASX LLC, TANARRA GROUP PTY LTD, HMC CAPITAL

Rio Tinto says all systems go for Simandou

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Original article by Nick Evans
The Australian – Page: 15 & 18 : 17-Jul-24

Rio Tinto has advised that the Simandou iron ore project has received final approval from the Guinean and Chinese governments. Rio Tinto is investing $US6.2bn in the development of mine, port and rail infrastructure at the Simandou project, while its share of annual production will be about 27 million tonnes. Meanwhile, Rio Tinto has indicated that a Pilbara iron ore train derailment in May affected shipments and production during the June quarter; the company shipped 158.3 million tonnes of iron ore in the first half of 2024, which will require a big increase in the second half to meet its full-year guidance of 323 to 338 million tonnes.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Aussie Broadband’s budget Buddy chases lost customers

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 15 & 19 : 16-Jul-24

Shares in Aussie Broadband fell by 14 per cent to trade at $3.06 on Monday after the telco announced that its 2024-25 financial year earnings would be between $125 million and $135 million, some $10 million less than its previous forecast. Aussie Broadband launched a new cheap internet brand called Buddy Telco on Monday, with group MD Phillip Britt hoping it will win back some of the customers it has lost to rival Superloop after Aussie Broadband lost a wholesale contract with Origin Energy to Superloop.

CORPORATES
AUSSIE BROADBAND LIMITED – ASX ABB, SUPERLOOP LIMITED – ASX SLC, ORIGIN ENERGY LIMITED – ASX ORG

Coles to expand its private label offering

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Original article by Eli Greenblat
The Australian – Page: 13 & 19 : 1-May-24

Coles Group has reported that its total sales rose by 3.4 per cent to $10.03bn in the March quarter. Its supermarket division’s sales were up 5.1 per cent to $9.07bn, with sales of private label grocery products rising by 8.8 per cent to $3.1bn. In contrast, its liquor store division’s sales fell by 1.9 per cent to $786m. Coles CEO Leah Weckert says cost-of-living pressures weighed on liquor sales during the quarter, but also help boost sales of ‘home brand’ grocery products. Weckert adds that Coles is responding to the latter trend by expanding its range of private label products, including the more premium Coles Finest range.

CORPORATES
COLES GROUP LIMITED – ASX COL

Facebook shifts $1.1b offshore as local profits rise 36pc

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 14 : 26-Apr-24

Facebook Australia’s latest accounts reveal that it paid its overseas affiliates $1.14 billion for ‘purchases of services’ in the 12 months to 31 December, up from $1.03 billion in 2022. The rise in Facebook’s ‘purchases of services’ came as its post-tax profit rose 36 per cent to $47.1 million, while the number of people working for Facebook in Australia declined by 16 per cent. Despite an broader decline in advertising, Facebook reported reported $1.34 billion from Australian advertisers in the subject year, up 6.8 per cent from $1.26 billion the year before.

CORPORATES
FACEBOOK AUSTRALIA PTY LTD

Fortescue confident on export guidance

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Original article by Nick Evans
The Australian – Page: 16 : 25-Apr-24

Pure-play iron ore miner Fortescue has advised that its shipments from the Pilbara totalled 43.3 million tonnes in the March quarter. This was 11 per cent lower than the December quarter and down six per cent year-on-year. The lower export volumes have been attributed to the impact of a haulage train derailment during the quarter. Fortescue has conceded that full-year shipments are likely to be at the lower end of its guidance of 192-197 million tonnes. Fortescue shipped just 138.5 million tonnes in the first half of 2023-24, which will require it to ship 53.5 million tonnes in the final quarter. Meanwhile, Fortescue has further downgraded its forecast for shipments from the Iron Bridge magnetite project.

CORPORATES
FORTESCUE LIMITED – ASX FMG