CORPORATE PROFITS – AUSTRALIA

oOh!media first-half profit jumps 22.5pc

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 15-Aug-17

Listed out-of-home advertising group oOh!media has posted a 2017 interim net profit of $A7.3m, which is 22.5 per cent higher than previously. EBITDA was 19 per cent higher at $A31.9m and revenue of $A173m was up 18 per cent. The company’s digital business contributed 52.1 per cent of group revenue for the half-year, as the company expanded its network of digital screens and billboards. Shareholders will receive a half-year dividend of $A0.045 per share.

CORPORATES
OOH!MEDIA LIMITED – ASX OML, APN OUTDOOR GROUP LIMITED – ASX APO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, THE QUANTIUM GROUP PTY LTD, WAVESTONE CAPITAL PTY LTD, OPHIR ASSET MANAGEMENT PTY LTD

Newcrest’s dividend plan ‘to flex’

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Original article by Tess Ingram
The Australian Financial Review – Page: 13 & 18 : 15-Aug-17

Newcrest Mining has posted a 2016-17 net profit of $US308m, which is seven per cent lower than previously. The result was marred by one-off items totalling $US86m, although its underlying net profit rose 22 per cent to $US394m. Newcrest reduced its net debt to $US1.5bn in 2016-17, while it has announced a new dividend policy which will result in shareholders receiving at least 10-30 per cent of free cash flow in the form of dividends. The minimum annual dividend payout will be $US0.15 per share.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, MORGANS FINANCIAL LIMITED, ALLAN GRAY AUSTRALIA PTY LTD

Nick Scali dives after caution on outlook

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Original article by Eli Greenblat
The Australian – Page: 19 : 11-Aug-17

Listed furniture retailer Nick Scali has posted a 2016-17 net profit of $A37.2m, which is 42.4 per cent higher than previously, while revenue rose by 14.7 per cent to $A232.9m. Same-store sales rose by 10 per cent, but MD Anthony Scali expects lower growth in 2017-18, noting that economic conditions and the housing market have a direct impact on furniture retailers. Shareholders will receive a fully franked final dividend of $A0.20 per share, and a full-year payout of $A0.34.

CORPORATES
NICK SCALI LIMITED – ASX NCK, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Lacklustre earnings after alarm bells in July

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Original article by David Rogers
The Australian – Page: 27 : 11-Aug-17

The Australian sharemarket has not risen significantly so far in August 2017, despite some good results during the reporting season. Carsales.com and Orora are among the stocks to have rallied in the wake of positive earnings reports, while the Commonwealth Bank, AGL and AMP have been sold down. Karen Jorritsma of Citigroup notes that capital management has been a major influence on share price movements during the current reporting season.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CARSALES.COM LIMITED – ASX CAR, ORORA LIMITED – ASX ORA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AGL ENERGY LIMITED – ASX AGL, AMP LIMITED – ASX AMP, JAMES HARDIE INDUSTRIES PLC – ASX JHX, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, TRANSURBAN GROUP LIMITED – ASX TCL, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, MORGANS FINANCIAL LIMITED, PACIFIC INVESTMENT MANAGEMENT COMPANY LLC

Auto classifieds firm fancies $1b opportunities offshore

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 10-Aug-17

Carsales.com.au has posted a 2016-17 net profit of $A109.5m, compared with $A109.3m previously. The listed automotive classified advertising group’s revenue increased by eight per cent to $A372.1m and EBITDA totalled $A176.5m. CEO Cameron McIntyre says the group’s international division could eventually contribute more earnings and revenue than its Australian business. He flags emerging markets such as Asia and Latin America as those offering the best growth potential for its international division.

CORPORATES
CARSALES.COM LIMITED – ASX CAR, CITIGROUP PTY LTD, TYRESALES.COM, REDBOOK

CBA plots next move as ability to reprice fades

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Original article by James Frost, James Eyers
The Australian Financial Review – Page: 15 & 19 : 10-Aug-17

The Commonwealth Bank of Australia has increased its full-year dividend to $A4.29 per share after posting a 2016-17 cash profit of $A9.88bn. The result was 4.6 per cent higher than previously and slightly exceeded market expectations. Earnings per share grew by 3.6 per cent to $A5.74 and CBA’s net interest margin fell three basis points to 2.11 per cent. CBA has also advised that its common equity tier one capital ratio is now 10.1 per cent, and the bank expects to achieve the revised target of 10.5 per cent well before the start of 2020.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PM CAPITAL LIMITED, PERENNIAL VALUE MANAGEMENT LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC

SCA profit jumps as shoppers spend up

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Original article by Elizabeth Redman
The Australian – Page: 23 : 9-Aug-17

The listed Shopping Centres Australasia Property Group has posted a 2016-17 profit of $A319.6m, which is 73 per cent higher than previously. The total value of its portfolio of shopping centres rose from $A1.89bn to $A2.36bn. The real estate investment trust has advised that it has rebalanced its mix of tenants to include non-discretionary retailers that are less likely to lose customers to online giant Amazon than outlets such as clothing stores.

CORPORATES
SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP – ASX SCP, AMAZON.COM INCORPORATED, CHARTER HALL RETAIL REIT – ASX CQR

Macquarie Media lifts despite Jones absence

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Original article by Stephen Brook
The Australian – Page: 25 : 9-Aug-17

Macquarie Media has posted a 2016-17 after-tax profit of $A17.32m, which is 21 per cent higher than previously. Group revenue was two per cent lower at $A131.11m, which has been primarily attributed to a downturn in royalty and contra revenues. Macquarie’s revenue was also affected by an extended leave of absence by 2GB presenter Alan Jones on medical grounds. Shareholders will receive a fully franked final dividend of $A0.04 per share.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, RADIO 2UE SYDNEY PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, SATELLITE MUSIC AUSTRALIA PTY LTD

CBA tipped to grind out $9.8b profit

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Original article by James Frost
The Australian Financial Review – Page: 16 : 8-Aug-17

Analysts expect the Commonwealth Bank of Australia to post a cash profit of $A4.9bn for the second half of 2016-17, an increase of 5.8 per cent, and a full-year cash profit of $A9.8bn. The banking major’s provision for bad and doubtful debts is likely to remain largely unchanged, while its net interest margin is tipped to have declined by two basis points in the second half. CBA’s earnings guidance is likely to come under scrutiny in the wake of its money-laundering scandal, while the bank is forecast to increase its dividend for the second half to $A2.24 per share.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, UBS HOLDINGS PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN

Rio hands out China bonanza

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Original article by James Thomson, Tess Ingram
The Australian Financial Review – Page: 1 & 22 : 3-Aug-17

Rio Tinto has posted a 2017 interim net profit of $US3.3bn, which is 93 per cent higher than previously, while underlying earnings rose by 152 per cent to $US3.9bn ($A4.9bn). The strong result was driven by its iron ore division, whose earnings rose by 87 per cent to $US3.3bn. Shareholders will receive a record interim dividend of $US1.10 a share, compared with just $US0.45 for the same period in 2016. Meanwhile, CEO Jean-Sebastien Jacques is upbeat about the outlook for the Chinese economy.

CORPORATES
RIO TINTO LIMITED – ASX RIO, YANCOAL AUSTRALIA LIMITED – ASX YAL, COAL AND ALLIED INDUSTRIES LIMITED, SHAW AND PARTNERS LIMITED, CITIGROUP PTY LTD, BARCLAYS BANK PLC