CORPORATE PROFITS – AUSTRALIA

Caltex retains M&A firepower with modest buyback

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Original article by Brian Robins
The Australian Financial Review – Page: 15 : 24-Feb-16

Caltex Australia has posted a net profit of $A522m for calendar 2015, compared with $A20m in 2014. Underlying earnings on a replacement cost operating profit basis increased from $A795m to $A977m. However, the downturn in the crude oil price impacted on revenue, which fell from $A23.9bn previously to $A20bn. Shareholders will receive a final dividend of $A0.70 per share and a full-year payout of $A1.17, while Caltex will repurchase $A270m worth of its shares.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, CAR NEXT DOOR PTY LTD

Technology, urbanisation drive billboard surge

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Original article by Jake Mitchell
The Australian – Page: 22 : 23-Feb-16

Australian-listed APN Outdoor has posted a 2015 pro-forma net profit of $A43.3m, which is 83 per cent higher than previously. It is also 53 per cent higher than forecast in the prospectus for its December 2014 IPO. The outdoor advertising group’s EBITDA of $A73.3m was 62 per cent higher than previously. Meanwhile, rival oOh! Media has also exceeded its prospectus forecasts, with a 2015 pro-forma net profit of $A28.5m and EBITDA of $A57.7m.

CORPORATES
APN OUTDOOR GROUP LIMITED – ASX APO, OOH!MEDIA LIMITED – ASX OML, OUTDOOR MEDIA ASSOCIATION INCORPORATED

Large rivals may spur nib M&A

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Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 23-Feb-16

Australian-listed private health insurer NIB Holdings has posted a 2015-16 interim profit of $A43.4m, which is five per cent higher than previously. The group’s net premium revenue was up 10.5 per cent at $A781.3m, and gross margins rose from 13.4 per cent to 15.1 per cent. MD Mark Fitzgibbon says NIB would be open to acquisitions, particularly as Medibank Private and Bupa are becoming increasingly competitive.

CORPORATES
NIB HOLDINGS LIMITED – ASX NHF, MEDIBANK PRIVATE LIMITED – ASX MPL, BUPA AUSTRALIA PTY LTD, ONEPATH AUSTRALIA LIMITED, SOUTHERN CROSS HEALTH LIMITED, AUSTRALIA. DEPT OF HEALTH

BHP urged to revive the faith

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Original article by Amanda Saunders
The Age – Page: 21 : 22-Feb-16

The 2015-16 interim financial results of BHP Billiton are likely to be closely scrutinised by investors. Pengana Capital’s Tim Schroeders says the resources group needs to restore investors’ faith and outline its strategy to achieve future growth. He believes that BHP will abandon its progressive dividend policy in favour of a payout ratio, while Paul McTaggart of Credit Suisse anticipates a reduction in capital expenditure over the next two years.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, PENGANA CAPITAL LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD, BLOOMBERG LP, VUMA CONSENSUS, RIO TINTO LIMITED – ASX RIO, SAMARCO MINERACAO SA

Negative gearing cap tipped to push up rents

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Original article by James Eyers
The Australian Financial Review – Page: 19 : 19-Feb-16

Mortgage Choice has posted a 2015-16 interim net profit of $A10.1m, which is 12.4 per cent higher than previously. The mortgage broker’s revenue rose by 5.4 per cent to $A102.3m, and its loan book increased by 4.7 per cent to a record $A50.7bn. CEO John Flavell has warned that the Federal Government’s proposed changes to the negative gearing regime would result in rent increases, as it would reduce the pool of rental housing.

CORPORATES
MORTGAGE CHOICE LIMITED – ASX MOC, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, AUSTRALIAN LABOR PARTY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Lend Lease bets big on urban renewal

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Original article by Turi Condon
The Australian – Page: 26 : 18-Feb-16

Lend Lease Group has posted a 2015-16 interim net profit of $A353.8m, which is 12 per cent higher than previously. The property developer’s residential pre-sales rose by 49 per cent to $A5.4bn, and funds under management increased by 26 per cent to $A22bn. CFO Tony Lombardo will succeed Rod Leaver as the CEO of Lend Lease’s Asian business, and Tarun Gupta will take on the role of CFO. Lend Lease shares rose by $A0.57 to $A12.84 on 17 February 2016.

CORPORATES
LEND LEASE GROUP LIMITED – ASX LLC, MACQUARIE GROUP LIMITED – ASX MQG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Fast-food group tops recipe with big result

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Original article by Catie Low
The Australian Financial Review – Page: 23 : 18-Feb-16

Domino’s Pizza Enterprises has posted a 2015-16 interim net profit of $A43.3m, which is 49 per cent higher than previously. Revenue rose by 30 per cent to $A445.3m. The group forecasts a 35 per cent rise in both earnings and net profit for the full year. Meanwhile, Domino’s intends to increase its focus on the use of digital technology in its home delivery service, and CEO Don Meij says such technology could make drive-through services obsolete.

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, BAILLIEU HOLST LIMITED, UBER TECHNOLOGIES INCORPORATED, RED ROOSTER FOODS, McDONALD’S AUSTRALIA LIMITED, DELIVEROO

Oil rout hinders Browse outlook

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Original article by Matt Chambers
The Australian – Page: 19 & 20 : 18-Feb-16

Oil and gas producer Woodside Petroleum has slashed its full-year dividend payout after posting a 2015 net profit of $US26m, compared with $US2.41bn previously. The group’s underlying profit of $US1.126bn exceeded market forecasts, although it was 53 per cent lower than in 2014. Woodside’s full-year result was marred by factors such as a $US865m write-down and the downturn in the crude oil price. Shareholders will receive a full-year dividend of $US1.09 per share.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CHEVRON CORPORATION, ROYAL DUTCH SHELL PLC, BP PLC, MITSUBISHI CORPORATION, MITSUI AND COMPANY LIMITED, PETROCHINA COMPANY LIMITED, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. DEPT OF THE TREASURY

It’s all about a cut in licence fees: Worner

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Original article by Jake Mitchell
The Australian – Page: 19 : 18-Feb-16

Seven West Media has posted a 2015-16 interim net profit of $A135.2m, compared with a loss of $A993.6m previously. Underlying net profit rose by 2.1 per cent to $A140.3m, but revenue eased 4.1 per cent to $A896.7m. The TV division’s EBIT rose by two per cent to $A185.4m and revenue fell by 2.1 per cent to $A662.9m, while the newspaper division’s earnings fell 22 per cent to $A24m. CEO Tim Worner says reducing TV broadcasting licence fees should be the highest priority on the Federal Government’s media reform agenda.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, PACIFIC MAGAZINES PTY LTD, MACQUARIE SECURITIES PTY LTD, AUSTRALIAN FOOTBALL LEAGUE, WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, TOTALIZATOR AGENCY BOARD (WESTERN AUSTRALIA), RACING VICTORIA LIMITED

Virgin signs partner deal with Alliance

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Original article by Jamie Freed
The Australian Financial Review – Page: 30 : 16-Feb-16

Australian-listed Alliance Aviation Services has posted a 2015-16 interim net profit of $A4.1m, which is 35 per cent lower than previously. The group, which specialises in the provision of charter flights for the "fly-in, fly-out" market, has been hit by the decline of the resources boom. Meanwhile, Alliance has secured a partnership agreement with Virgin Australia Holdings which will allow both groups to expand their charter operations.

CORPORATES
ALLIANCE AVIATION SERVICES LIMITED – ASX AQZ, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, QANTASLINK, COBHAM AVIATION SERVICES, AIRNORTH, SKYWEST AIRLINES LIMITED, VIRGIN AUSTRALIA REGIONAL AIRLINES PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN, DEUTSCHE LUFTHANSA AG, AUSTRALIA. BUREAU OF TRANSPORT AND REGIONAL ECONOMICS