COMPANY RESULTS – AUSTRALIA

Foxtel’s revenue jumps in first half

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Original article by Jake Mitchell
The Australian – Page: 22 : 19-Feb-16

Pay-TV group Foxtel recorded 7.4 per cent growth in broadcast subscriber numbers during the first half of 2015-16, while its total subscriber base rose by 8.1 per cent. Foxtel’s EBIT for the half-year was 7.7 per cent lower at $A434m, although revenue rose by 5.5 per cent to $A1.66bn. The company’s subscriber churn rate fell from 11.4 per cent to 10.2 per cent.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, PRESTO ENTERTAINMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, FOX SPORTS AUSTRALIA PTY LTD, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, ENGLISH PREMIER LEAGUE, SINGTEL OPTUS PTY LTD, CBS CORPORATION, SHOWTIME

Rio Tinto set to slash dividend as profits dive

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 12-Feb-16

Rio Tinto has posted a 2015 statutory loss of $US866m, while its underlying earnings for the calendar year were 51 per cent lower at $US4.5bn. The downturn in the iron ore price resulted in a sharp fall in revenue, to $US34.8bn. Shareholders will receive a full-year dividend of $US2.15 per share, but Rio Tinto will abolish its progressive dividend policy in 2016 in favour of a payout ratio. It expects to pay a full-year dividend of around $US1.10 per share in 2016.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, ABERDEEN ASSET MANAGEMENT LIMITED, ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, STANDARD AND POOR’S CORPORATION

Lihir mine in PNG gives Newcrest results boost

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 29-Jan-16

Newcrest Mining achieved total gold production of 1.2 million ounces in the first half of 2015-16, putting it on track to achieve its full-year target of 2.4 to 2.6 million ounces. It boasted all-in sustaining production costs of $US770 an ounce during the half-year. Meanwhile, gold production at the Lihir mine in Papua New Guinea rose by 26 per cent during the December 2015 quarter. Newcrest shares rose by $A0.36 to $A13.88 on 28 January 2016.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, HARMONY GOLD MINING COMPANY LIMITED

Hipsters, Byron surfers boost Coopers in NSW

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Original article by Simon Evans
The Australian Financial Review – Page: 3 : 22-Jan-16

Data from the Australian Bureau of Statistics shows that beer consumption has fallen to its lowest level in more than six decades. Coopers Brewery MD Tim Cooper believes that beer sales will not rebound unless the Federal Government scraps the wine equalisation tax rebate. New South Wales accounted for 24.5 per cent of Coopers’ sales in 2015, while the brewer’s home state of South Australia accounted for 24.3 per cent of sales.

CORPORATES
COOPERS BREWERY LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Woodside takes $1.7bn hit as oil prices slump

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Original article by Matt Chambers
The Australian – Page: 17 : 22-Jan-16

Oil and gas producer Woodside Petroleum has reported revenue of $US1.105bn for the December 2015 quarter, which is 37 per cent lower than the same period in 2014. Revenue for the full year also fell by 37 per cent to $US4.5bn, due to the downturn in the crude oil price. Woodside has advised that its full-year accounts will be marred by asset write-downs of up to $US1bn ($A1.2bn). Its shares closed $A0.39 lower at $A25 on 21 January 2016.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP BILLITON LIMITED – ASX BHP, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, OIL SEARCH LIMITED – ASX OSH, APACHE CORPORATION, DEUTSCHE BANK AG

BHP’s biggest question is its $US6.6b payout

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 23 : 21-Jan-16

Iron ore was the only one of BHP Billiton’s "four pillars" to post an increase in production during the six months to December 2015. The resources giant expects to achieve its 2015-16 production guidance for coal, copper and petroleum, although iron ore output is likely to be lower than forecast as a result of the Samarco disaster in Brazil. Meanwhile, BHP’s progressive dividend policy is expected to come under scrutiny again, and UBS forecasts that its interim dividend will be slashed by 50 per cent to $A0.31 per share.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, SHAW AND PARTNERS LIMITED, MACQUARIE BANK LIMITED – ASX MBL, SAMARCO MINERACAO SA, RIO TINTO LIMITED – ASX RIO

Listed companies too afraid to provide guidance, study says

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 1 & 11 : 8-Dec-15

McGrathNicol has released a report which shows that just 49 per cent of the 104 Australian-listed companies it surveyed have released earnings guidance in 2015, compared with 57 per cent in 2014. The survey also found that the number of companies that met or exceeded their earnings guidance fell from 69 per cent in 2014 to 64 per cent. Factors such as concern about class actions and challenging market conditions in some sectors have contributed to companies’ reluctance to release earnings guidance.

CORPORATES
McGRATH NICOL AND PARTNERS SERVICES PTY LTD, ASX LIMITED – ASX ASX, BROADSPECTRUM LIMITED – ASX BRS, JB HI-FI LIMITED – ASX JBH, PACIFIC BRANDS LIMITED – ASX PBG

RIAA calls to end quarterly reporting

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Original article by Sally Rose
The Australian Financial Review – Page: 33 : 19-Nov-15

The majority of listed companies release quarterly earnings reports and guidance updates, but Responsible Investment Association Australasia (RIAA) CEO Simon O’Connor says their main priority should be pursuing strategies that will create long-term value for investors. A policy paper to be released on 19 November 2015 also presents the RIAA’s views on issues such as environmental and social governance risks, ethics and executive remuneration.

CORPORATES
RESPONSIBLE INVESTMENT ASSOCIATION AUSTRALASIA, BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA, VOLKSWAGEN AG, UNISUPER LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, FIRST STATE SUPER, VICSUPER PTY LTD, SUNSUPER PTY LTD, BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED, AMP CAPITAL INVESTORS LIMITED, PERPETUAL LIMITED – ASX PPT, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT

Analysts cool on CBA’s $2.4b profit

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Original article by Clancy Yeates
The Australian Financial Review – Page: 13 & 17 : 6-Nov-15

The Commonwealth Bank has posted an unaudited profit of $A2.4bn for the September 2015 quarter, which is four per cent higher year-on-year. The major bank’s trading update also indicated that its exposure to impaired and doubtful loans fell from $A6bn to $A5.5bn during the period, while deposits accounted for 63 per cent of its funding. The group’s tier one capital ratio rose to 9.8 per cent during the quarter following a $A5.1bn equity raising.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, WATERMARK FUNDS MANAGEMENT PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, FOLKESTONE MAXIM ASSET MANAGEMENT LIMITED

Shining Star’s locals make up for slump in high-roller gamblers

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 : 5-Nov-15

Echo Entertainment Group’s shareholders approved a resolution to change its name to The Star Entertainment Group at the 2015 AGM. The listed casino operator also revealed that its domestic revenue was 8.7 per cent higher than previously in the first four months of 2015-16, although revenue from high-rollers fell by 33.8 per cent. Meanwhile, the group intends to rebadge its Queensland casinos as The Star, a brand that it currently uses in Sydney.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, CROWN RESORTS LIMITED – ASX CWN, MELCO CROWN ENTERTAINMENT LIMITED, STANDARD AND POOR’S ASX 200 INDEX