CORPORATE PROFITS – AUSTRALIA

Domino’s still hungry for more

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Original article by Eli Greenblat
The Australian – Page: 23 : 17-Aug-16

Australian-listed Domino’s Pizza Enterprises has posted a 2015-16 net profit of $A82.43m, which is 28.7 per cent higher than previously. The fast-food chain’s revenue rose by 32.43 per cent to $A930.22m, while its underlying profit increased by 43.2 per cent to $A92m. CEO Don Meij notes that Domino’s is increasing its market share in categories beyond its core pizza business, such as hamburgers. Investors will receive a full-year dividend of $A0.735 per share.

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, PIZZA SPRINT, JOEY’S PIZZA, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, OPHIR ASSET MANAGEMENT PTY LTD

Newcrest’s Cadia ambitions grow

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Original article by Peter Ker
The Australian Financial Review – Page: 14 : 16-Aug-16

Australian-listed Newcrest Mining has posted a 2015-16 underlying profit of $US323m, which is 24 per cent lower than previously but in line with analysts’ forecasts. Meanwhile, CEO Sandeep Biswas says the gold producer will examine options for increasing the Cadia mine’s ore processing capacity beyond the 32 million tonnes per year for which it currently has regulatory approval. Shareholders will receive an unfranked dividend of $US0.075 per share, which is the first payout in more than three years.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, ALLAN GRAY AUSTRALIA PTY LTD, SHAW AND PARTNERS LIMITED

CBA to drive returns as results soften

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Original article by Michael Bennet
The Australian – Page: 21 & 25 : 11-Aug-16

The Commonwealth Bank of Australia has posted a 2015-16 cash profit of $A9.45bn. Despite being a record result, it was just three per cent higher than previously, due to a disappointing performance across the group’s key businesses in the second half. CBA’s return on equity fell to 16.5 per cent and its net interest margin fell to 2.07 per cent. CEO Ian Narev says banks must take into account the needs of borrowers, savers and shareholders with regard to setting interest rates. Shareholders will receive a full-year dividend of $A4.20 per share.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WAVESTONE CAPITAL PTY LTD, RESERVE BANK OF AUSTRALIA, UBS HOLDINGS PTY LTD, WATERMARK FUNDS MANAGEMENT PTY LTD, BELL POTTER SECURITIES LIMITED

Elliott steadies the ship at ANZ

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Original article by Michael Bennet
The Australian – Page: 21 & 25 : 10-Aug-16

The ANZ Bank has posted a cash profit of $A5.2bn for the nine months to 30 June 2016, which is three per cent lower than previously. ANZ’s earnings for the June 2016 quarter were below expectations at around $A1.7bn, while bad debt charges rose to $A482m during the quarter. Meanwhile, CEO Shayne Elliott has defended the banks’ decision to pass on only part of the 25 basis point reduction in the cash rate to home loan customers and increase the interest rates on some term deposits.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

REA banks on property snoops to fuel global push

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Original article by Darren Davidson
The Australian – Page: 21 : 10-Aug-16

Australian-listed REA Group has posted a 2015-16 net profit of $A214m, which is 16 per cent higher than previously. The real estate listings business recorded revenue growth of 20 per cent, to $A629.8m, while EBITDA rose by 22 per cent to $A347.3m. CEO Tracey Fellows expects a plan to combine the property listings of REA’s realestate.com.au with those of Move to boost the group’s revenue.

CORPORATES
REA GROUP LIMITED – ASX REA, REALESTATE.COM.AU, MOVE INCORPORATED, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU

CBA to hand down bumper $9.5bn profit

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Original article by Michael Bennet
The Australian – Page: 21 & 24 : 8-Aug-16

Bendigo and Adelaide Bank is tipped to post a 2015-16 cash profit of $A434m on 8 August 2016, while the Commonwealth Bank of Australia is expected to report a full-year profit of $A9.5bn on 10 August. Scott Manning of JP Morgan says margins are likely to remain a significant focus for the banking major. However, the Reserve Bank does not expect banks’ margins to be adversely affected by recent moves to lift some term deposit interest rates while failing to pass on the full reduction in the cash rate to home loan and business customers.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, JP MORGAN AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, MORGAN STANLEY AUSTRALIA LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, MERLON CAPITAL PARTNERS PTY LTD, MORGANS FINANCIAL LIMITED, PEABODY ENERGY CORPORATION, UBS HOLDINGS PTY LTD, CITIGROUP PTY LTD, FIRST OIL PLC

Reporting season may test resilience of ASX

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 20 : 8-Aug-16

Futures traders expect the Australian sharemarket to gain 31 points when trading resumes on 8 August 2016, following a positive lead from Wall Street. The reporting season will continue to be a focus for investors in the coming week, with the Commonwealth Bank, REA Group, Telstra and Cochlear among the companies that are slated to release their latest financial result. The Reserve Bank of New Zealand’s monthly board meeting and Chinese economic data will also attract investors’ attention.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, REA GROUP LIMITED – ASX REA, TELSTRA CORPORATION LIMITED – ASX TLS, COCHLEAR LIMITED – ASX COH, RESERVE BANK OF NEW ZEALAND, AGL PETROLEUM, TRANSURBAN GROUP LIMITED – ASX TCL, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, UNITED STATES. FEDERAL RESERVE BOARD, STANDARD AND POOR’S 500 INDEX, RESERVE BANK OF AUSTRALIA, PERPETUAL INVESTMENTS, TD SECURITIES

Suncorp insures itself against more storms

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Original article by Sally Rose
The Australian Financial Review – Page: 17 & 20 : 5-Aug-16

Suncorp Group has reported an 8.3 per cent decline in net profit for 2015-16, to $A1.04 billion. Michael Cameron, the CEO of the Australian-listed insurance group, stated on 4 August 2016 that Suncorp has increased its reinsurance protection by $A300 million because of the higher frequency of weather-related events. Shares in Suncorp rose 0.7 per cent to $A13.30.

CORPORATES
SUNCORP GROUP LIMITED – ASX SUN, MAPLE-BROWN ABBOTT LIMITED, JP MORGAN AUSTRALIA LIMITED, SUNCORP LIFE AND SUPERANNUATION LIMITED, ASTERON LIFE LIMITED, CONTANGO ASSET MANAGEMENT LIMITED, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Rio tamps down iron rally hope

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Original article by Matt Chambers
The Australian – Page: 19 : 4-Aug-16

Rio Tinto has posted a 2016 interim underlying profit of $US1.56bn, which is 47 per cent lower than previously. Weaker commodities prices reduced the underlying profit by $US1.9bn, while the net profit from its iron ore operations in Western Australia fell by 17 per cent to $US1.74bn. Meanwhile, CEO Jean-Sebastien Jacques has warned that the recent upturn in the iron ore price may not be sustained, noting that the availability of credit was a major driver of increased demand for steel in China during the June quarter.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ARNHEM INVESTMENT MANAGEMENT PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, TURQUOISE HILL RESOURCES LIMITED

Rio Tinto and BHP Billiton enter new era of dividends

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 3-Aug-16

The dividend payouts of BHP Billiton and Rio Tinto will be closely scrutinised in the August 2016 reporting season, after their progressive dividend policies were scrapped earlier in the year. BHP has committed to paying shareholders a minimum of 50 per cent of its underlying attributable profit as dividends, while Rio Tinto’s new dividend policy will take into account its financial results and future earnings outlook. Meanwhile, analysts polled by Bloomberg generally expect Rio Tinto to post a 2016 interim underlying net profit after tax of $US1.56bn.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, SHAW AND PARTNERS LIMITED, UBS HOLDINGS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, DEUTSCHE BANK AG, BLOOMBERG LP, VUMA