CORPORATE PROFITS – AUSTRALIA

Bring back watchdog: Boral

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 21 : 25-Aug-16

Listed building materials group Boral has posted a 2015-16 net profit of $A256m, which is in line with its previous result. Its after-tax profit rose by nine per cent to $A268m when significant items totalling $A12m are excluded. Meanwhile, CEO Mike Kane has called for bipartisan support for legislation to reinstate the Australian Building & Construction Commission. He has also rejected calls for the creation of an anti-corruption agency that has broader scope than the construction industry.

CORPORATES
BORAL LIMITED – ASX BLD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSR LIMITED – ASX CSR

Qantas breaks dividend drought with record profit

roymorgansocial Leave a comment

Original article by Michael Smith
The Australian Financial Review – Page: 15 & 22 : 25-Aug-16

Qantas has reported a 2015-16 net profit of $A1.029bn, compared with $A557m for the previous financial year. The airline’s pre-tax underlying profit rose from $A975m to a record $A1.53bn. Shareholders will receive a final dividend of $A0.07 per share, which is the carrier’s first payout since 2009, while Qantas will repurchase up to $A366m worth of its shares. Meanwhile, employees will receive a cash bonus ranging from $A2,500 to $A3,000.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, JETSTAR AIRLINES PTY LTD, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, CITIGROUP PTY LTD

BlueScope’s US protectionist profit bonanza

roymorgansocial Leave a comment

Original article by Simon Evans
The Australian Financial Review – Page: 13 & 16 : 23-Aug-16

BlueScope Steel has reported a rise of 160 per cent in net profit after tax to $A353.8 million for 2015-16. The Australian-listed steel maker benefited from cost-cutting initiatives, improving conditions in the global steel market and the imposition of anti-dumping duties in the US on steel imports from China. The company’s North Star mill in Ohio, which is the most profitable steel mill in North America, produces two million tonnes of steel annually.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, CARGILL INCORPORATED, ARRIUM LIMITED – ASX ARI

SEEK flags aggressive reinvestment, acquisitions

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 13 & 16 : 23-Aug-16

Australian-listed SEEK has posted a 2015-16 net profit of $A357m, which is 27 per cent higher than previously. However, this was boosted by the sale of a 50 per cent stake in IDP Education, and SEEK’s underlying profit rose by three per cent to $A198.1m. EBITDA was five per cent higher than previously at $A366.7, and group revenue increased by 11 per cent to $A950.4m. Shareholders will receive a final dividend of $A0.19 per share.

CORPORATES
SEEK LIMITED – ASX SEK, IDP EDUCATION LIMITED – ASX IEL, HYPERION ASSET MANAGEMENT LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, SIDEKICKER, WORKANA, NIMBLE SOFTWARE SYSTEMS, JORA, JOBADDER, ZHAOPIN LIMITED

APN Outdoor savaged after earnings downgrade

roymorgansocial Leave a comment

Original article by Jake Mitchell
The Australian – Page: 21 : 23-Aug-16

Australian-listed APN Outdoor has posted a 2016 interim net profit of $A19.5m, which is 49 per cent higher than previously. EBITDA rose by 31 per cent to $A34.8m, and revenue was 10 per cent higher at $A150.6m. However, the outdoor advertising group has advised that it expects EBIT for the full year to be within the range of $A79m to $A84m, down from previous expectations of $A84m to $A88m. APN Outdoor’s shares fell by 35.3 per cent on 22 August, closing at $A5.33.

CORPORATES
APN OUTDOOR GROUP LIMITED – ASX APO, OOH!MEDIA LIMITED – ASX OML, QMS MEDIA LIMITED – ASX QMS, WILSON ASSET MANAGEMENT

Fortescue super-sizes dividends

roymorgansocial Leave a comment

Original article by Tess Ingram
The Australian Financial Review – Page: 1 & 8 : 23-Aug-16

Fortescue Metals Group has posted a 2015-16 net profit of $US985m, which is 212 per cent higher than previously. Underlying EBITDA rose by 27 per cent to $US3.2bn, although a lower spot iron ore price resulted in revenue falling by 17 per cent to $US7.1bn. Fortescue reduced its debt by $US2.9bn during the financial year. The pure-play miner has lifted its final dividend from $A0.02 per share to $A0.12, for a total payout of $A0.15 per share.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, UBS HOLDINGS PTY LTD, THOMSON REUTERS PLC

Northern Star on the hunt for organic growth

roymorgansocial Leave a comment

Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 23-Aug-16

Australian-listed Northern Star Resources has posted a 2015-16 net profit of $A151.4m, which is 65 per cent higher than previously. The company recently secured a deal to sell the Plutonic gold mine in Western Australia, and estimates that its net profit would have been $A165.3m if it had not owned the mine during 2015-16. Shareholders will receive a final dividend of $A0.04 per share, plus a special dividend of $A0.03.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, BILLABONG GOLD PTY LTD

Brambles heads to UK as Gorman exits

roymorgansocial Leave a comment

Original article by Damon Kitney, Richard Gluyas
The Australian – Page: 21 & 25 : 19-Aug-16

Australian-listed logistics group Brambles has posted a 2015-16 net profit of $US588m ($A725m), which is one per cent higher than previously. Its statutory profit was six per cent lower at $US557.4m due to writedowns and impairment charges totalling $US78.1m, but revenue rose by two per cent to $US5.54bn. Meanwhile, British executive Graham Chipchase will succeed CEO Tom Gorman in early 2017, and Brambles will relocate its head office to London.

CORPORATES
BRAMBLES LIMITED – ASX BXB, FORD MOTOR COMPANY AUSTRALIA LIMITED, REXAM HOLDINGS PTY LTD, BALL CORPORATION

Woolies’ Masters discounting dims Beacon’s stellar growth

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 20 : 19-Aug-16

Australian-listed Beacon Lighting Group has posted a 2015-16 statutory net profit of $A18.3m, which is eight 8 per cent higher than previously. However, Beacon recorded a 14.6 per cent decline in profits during the second half, which it attributes to large price discounts on lighting products by Masters Home Improvement. Beacon recorded overall sales growth of 7.7 per cent, while same-store sales grew by just 2.7 per cent.

CORPORATES
BEACON LIGHTING GROUP LIMITED – ASX BLX, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, MORGANS FINANCIAL LIMITED

CSL shrugs off growth concerns, shares slide

roymorgansocial Leave a comment

Original article by Ben Potter
The Australian Financial Review – Page: 17 & 22 : 18-Aug-16

CSL has posted a 2015-16 net profit of $US1.24bn ($A1.6bn), which is 10 per cent lower than previously. The blood products and vaccines group’s sales rose by eight per cent to $US6.13bn. Earnings per share fell by eight per cent to $US2.69, but increased by seven per cent on a constant currency basis. CSL has forecast underlying net profit and EBITDA growth of 11 per cent and 14 per cent respectively in 2016-17. Its shares closed five per cent lower at $A110.84 on 17 August 2016.

CORPORATES
CSL LIMITED – ASX CSL, SHIRE PHARMACEUTICALS GROUP PLC, NOVARTIS AG, CSL BEHRING, WILSONS ADVISORY AND STOCKBROKING LIMITED, SEQIRUS PTY LTD