COMPANY RESULTS – AUSTRALIA

Gerry Harvey upbeat on retail sales outlook

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 14 : 15-Jan-15

Citigroup’s Craig Woolford estimates that Australian retailers generally enjoyed same-store sales growth of 2-3 per cent during the 2014 Christmas and New Year period. Harvey Norman recorded strong growth in sales, according to chairman Gerry Harvey, and he is optimistic about the group’s prospects for 2015. Harvey Norman shares closed $A0.23 higher at $A3.69 on 14 January, and Merrill Lynch has upgraded its share price target to $A4

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, CITIGROUP PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, INCU PTY LTD, SUPER RETAIL GROUP LIMITED – ASX SUL, PREMIER INVESTMENTS LIMITED – ASX PMV, PETER ALEXANDER SLEEPWEAR PTY LTD, JUST JEANS PTY LTD, PORTMANS PTY LTD, SMIGGLE PTY LTD, JB HI-FI LIMITED – ASX JBH, NET-A-PORTER.COM LIMITED, MR PORTER

Lot release ‘too slow in NSW’

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Original article by Tim Binsted
The Australian Financial Review – Page: 18 : 26-Nov-14

Brickworks MD Lindsay Partridge believes that the limited supply of land for residential development is contributing to the rising cost of homes in New South Wales. He has urged the State Government to accelerate the release of new housing lots, arguing that it should be making 10 times more lots available than at present. Meanwhile, Brickworks achieved 14 per cent growth in revenue year-on-year in the first quarter of 2014-15

CORPORATES
BRICKWORKS LIMITED – ASX BKW, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD

Wesfarmers off to good start: Goyder

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Original article by Sue Mitchell, Julie-Anne Sprague
The Australian Financial Review – Page: 13 & 20 : 21-Nov-14

Wesfarmers chairman Bob Every has told the group’s annual meeting that its total shareholder return has significantly outperformed the benchmark S&P/ASX 200 over the last decade. MD Richard Goyder said the conglomerate’s retail operations have generally performed well so far in 2014-15, particularly the Coles and Bunnings businesses. Goyder also downplayed speculation that the cashed-up group could pursue acquisitions. Wesfarmers shares closed $A0.79 lower at $A42.10

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, WESFARMERS BUNNINGS LIMITED, TARGET AUSTRALIA PTY LTD, KMART AUSTRALIA LIMITED, STANDARD AND POOR’S ASX 200 INDEX, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PACIFIC BRANDS LIMITED – ASX PBG, AUSTRALIAN FOOD AND GROCERY COUNCIL, HEALTHSCOPE LIMITED – ASX HSO, JB HI-FI LIMITED – ASX JBH, ORICA LIMITED – ASX ORI, COATES HIRE LIMITED, ELDERS LIMITED – ASX ELD, AMP LIMITED – ASX AMP, THE GOOD GUYS, THE MUIR ELECTRICAL COMPANY PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, COSTCO WHOLESALE AUSTRALIA PTY LTD, TESCO PLC, MORRISONS, ASDA GROUP PLC, PERTH CONVENTION AND EXHIBITION CENTRE

CCA soars as Coke takes stake in Indo

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 20 : 31-Oct-14

The Coca-Cola Company will pay $US500m ($A563m) for a 29.4 per cent stake in the Indonesian subsidiary of Australian-listed Coca-Cola Amatil. The deal prompted a rally in CCA shares, which peaked at $A9.25, although some analysts believe that the group should have sought a higher price for the stake. Meanwhile, CCA anticipates that it will achieve earnings growth in 2015

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, THE COCA-COLA COMPANY

Goyder defends Coles’s conduct amid strong sales

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Original article by Paul Garvey
The Australian – Page: 21 : 31-Oct-14

The total turnover of retailer Coles during the September 2014 quarter grew 4% to reach $A9.2bn. Across the individual units of the Wesfarmers-owned group, sales at Bunnings were up 11%, those at Officeworks 8% and Kmart 2.9%. At the results presentation on 30 October 2014, Wesfarmers CEO Richard Goyder rejected claims by the Australian Competition & Consumer Commission that Coles supermarkets were guilty of "unconscionable conduct" by pressuring grocery suppliers into making financial contributions

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, WESFARMERS BUNNINGS LIMITED, OFFICEWORKS SUPERSTORES PTY LTD, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ZARA, INDITEX SA, TOPSHOP, ARCADIA GROUP PLC, HENNES OCH MAURITZ AB

Ten on path to recovery, says CEO

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Original article by Darren Davidson
The Australian – Page: 22 : 17-Oct-14

Free-to-air TV group Ten Network has posted a 2013-14 post-tax loss of $A168.3m, after $A295m in 2012-13. However revenue fell further, down 4.3% to $A625m. Analysts are nevertheless applauding the turnaround and cost cutting strategies of CEO Hamish McLennan, and on 16 October 2014 the stock closed $A0.02 higher at $A0.20. McLennan says Ten will lodge a bid for the broadcasting rights to Australian Football League matches, currently held by rival Seven West Media. Ten recently acquired the Big Bash cricket and V8 Supercars rights

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN FOOTBALL LEAGUE, V8 SUPERCARS AUSTRALIA PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, CITIGROUP PTY LTD

Virgin moves to quarterly reports

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Original article by Jamie Freed
The Australian Financial Review – Page: 15 : 10-Oct-14

Singapore Airlines (SIA) has a 22.2 holding in Virgin Australia, which means CEO Goh Choon Phong was in mid-2014 appointed a director of the latter carrier and SIA now needs quarterly data from Virgin for its own equity accounting. However while Virgin is switching to quarterly reports as a result, it appears to have abandoned the monthly issuing of traffic data that is common for airlines including main rival Qantas Airways. Air New Zealand CEO Christopher Luxon also sits on the Virgin board as his business has a 25.9% stake

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AIR NEW ZEALAND LIMITED – ASX AIZ, QANTAS AIRWAYS LIMITED – ASX QAN, SINGAPORE AIRLINES LIMITED, ETIHAD AIRWAYS, TIGER AIRWAYS AUSTRALIA PTY LTD, ASX LIMITED – ASX ASX, AIR BERLIN PLC AND COMPANY LUFTVERKEHRS KG, AIR SERBIA, AIR SEYCHELLES, JET AIRWAYS, DARWIN AIRLINE, MALAYSIAN AIRLINE SYSTEMS, CAPA CONSULTING, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, 4TH DIMENSION

Mail losses widen

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Original article by Joanna Heath
The Australian Financial Review – Page: 7 : 5-Sep-14

Australia Post has reported a 2013-14 profit of $A116.2m, including a profit of $A337.5m for its parcels business. However, its letters business posted a loss of $A328.4m, which is 15 per cent higher than previously. CEO Ahmed Fahour is seeking Federal Government approval to offer a two-tiered mail delivery service, with customers paying more for deliveries every weekday

CORPORATES
AUSTRALIA POST, AUSTRALIA. DEPT OF COMMUNICATIONS

Billabong sees clear water in revival

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Original article by Blair Speedy
The Australian – Page: 18 : 29-Aug-14

Billabong International has announced a 2013-14 full-year net loss of $A233.7m, an improvement from $A859.5m in 2012-13. Excluding abnormal charges the EBITDA reached $A52.2m. The surf and skate clothing distributor and retailer in late 2013 struck a recapitalisation deal worth $A368m with US-based private equity firms Centerbridge Partners and Oaktree Capital. CEO Neil Fiske now says the Australian-listed company has lifted its US sales after years of declines, and growth in the Asian region has been 5% for the year

CORPORATES
BILLABONG INTERNATIONAL LIMITED – ASX BBG, OAKTREE CAPITAL MANAGEMENT LLC, CENTERBRIDGE PARTNERS LP, SURFSTITCH PTY LTD, ELEMENT, SWELL COMMERCE INCORPORATED

Qantas loss tipped to top $1.1bn

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Original article by Steve Creedy
The Australian – Page: 19 : 19-Aug-14

Qantas Airways will report its 2013-14 results in the week starting 25 August 2014, and is tipped to have suffered a record loss of at least $A1.1bn. Analysts’ predictions for the underlying loss before tax are around $A770m, and there will also be major abnormal charges stemming from the downsizing moves at the carrier. Qantas CFO Gareth Evans says the company has shed some 2,200 staff so far and is aiming for a further 2,800 redundancies, to realise cost savings worth $A1bn

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, MACQUARIE RESEARCH EQUITIES, MACQUARIE BANK LIMITED – ASX MBL, DEUTSCHE BANK AG, MORGAN STANLEY AUSTRALIA LIMITED