CORPORATE PROFITS – AUSTRALIA

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

Bendigo still beats analyst forecasts

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Original article by Shaun Drummond
The Australian Financial Review – Page: 18 : 16-Feb-16

Bendigo & Adelaide Bank has posted a 2015-16 interim net profit of $A208.7m, which is 8.2 per cent lower than previously. However, its after-tax cash profit rose by 2.7 per cent to $A223.7m and net income rose to $A783.5m. Income from the regional bank’s Homesafe reverse mortgage-style product increased by 66 per cent to $A50.4m. The group’s shares closed at $A8.86 on 15 February 2016.

CORPORATES
BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, BELL POTTER SECURITIES LIMITED, CONTANGO ASSET MANAGEMENT LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, MACQUARIE BANK LIMITED – ASX MBL, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Newcrest dividend back on the cards

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Original article by Barry FitzGerald
The Australian – Page: 20 : 16-Feb-16

Newcrest Mining has reported a 2015-16 interim net profit of $US63m, compared with $US180m previously. The result was marred by a sharp fall in the price of gold and copper during the half-year. Newcrest’s net debt fell by $US235m to $US2.65bn during the period. while its gearing eased from 29.3 per cent to 28.1 per cent. Newcrest has previously indicated that it may resume paying a dividend when its gearing falls to 25 per cent.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MARKETS LLC, CREDIT SUISSE (AUSTRALIA) LIMITED

Mirvac points to issues across both sectors

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Original article by Matthew Cranston
The Australian Financial Review – Page: 33 : 12-Feb-16

Mirvac Group has posted a 2015-16 interim net profit of $A472.7m, which is 69 per cent higher than previously. The result was bolstered by a $A289.3m rise in the value of the group’s portfolio of investment properties. Mirvac still expects to pay a full-year distribution of between $A0.097 and $A0.099 per stapled security. Meanwhile, CEO Susan Lloyd-Hurwitz forecasts that growth in residential property prices will slow and sales volumes will fall.

CORPORATES
MIRVAC GROUP – ASX MGR, MORGAN STANLEY AUSTRALIA LIMITED, FOLKESTONE MAXIM ASSET MANAGEMENT LIMITED

Suncorp profit hit by natural disaster claims

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Original article by Ruth Liew
The Australian Financial Review – Page: 16 : 12-Feb-16

Australian-listed insurer Suncorp Group has reported a 2015-16 interim net profit of $A530m, which is 16 per cent lower than previously. The result was marred by factors such as lower returns from its investment portfolio and an increase in claims arising from natural disasters. The core general insurance division has booked a half-year profit of $A297m, while the banking arm’s profit was $A194m. Shareholders will receive an interim dividend of $A0.30 per share.

CORPORATES
SUNCORP GROUP LIMITED – ASX SUN, AUSTRALIAN ASSOCIATED MOTOR INSURERS LIMITED, GIO AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BKI INVESTMENT COMPANY LIMITED – ASX BKI, FIDELITY WORLDWIDE INVESTMENT, CLSA AUSTRALIA PTY LTD, GPT GROUP – ASX GPT

Focus on sales reboots growth at Cochlear

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Original article by Tim Binsted
The Australian Financial Review – Page: 15 : 12-Feb-16

Australian-listed Cochlear has posted a 2015-16 interim net profit of $A94m, which is 32 per cent higher than previously. Revenue also increased by 32 per cent, to $A581.7m, and sales of its hearing implants rose by 26 per cent to 14,748 units. CEO Chris Smith says the group has benefited from its consumer-focused strategy, and notes that the 65-plus age group represents a huge growth opportunity for Cochlear.

CORPORATES
COCHLEAR LIMITED – ASX COH

Boral shifts focus to new infrastructure

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Original article by Tim Binsted
The Australian Financial Review – Page: 19 : 11-Feb-16

Building materials group Boral has posted a 2015-16 interim net profit of $A136.6m, which is 31 per cent higher than previously. EBIT rose by 19 per cent to $A200m, but revenue was four per cent per cent lower at $A2.2bn. The group’s construction materials division has reported half-year EBIT of $A159m, an increase of six per cent, while its US arm posted EBIT of $A8m. Shareholders will receive an interim dividend of $A0.11 per share.

CORPORATES
BORAL LIMITED – ASX BLD, RBC CAPITAL MARKETS, CSR LIMITED – ASX CSR, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, PERPETUAL LIMITED – ASX PPT

OZ Minerals reaps the reward of high grades

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 11-Feb-16

OZ Minerals has posted a 2015 net profit of $A130.2m, compared with $A48.5m for the previous calendar year. CEO Andrew Cole is upbeat about the group’s outlook for 2016, forecasting an increase in production of both gold and copper. He is confident that OZ Minerals will be able to keep paying a dividend while developing the Carrapateena copper project. Shareholders will receive a full-year dividend of $A0.20 per share.

CORPORATES
OZ MINERALS LIMITED – ASX OZL, BELL POTTER SECURITIES LIMITED, CITIGROUP PTY LTD, AUSTRALIAN FEDERAL POLICE, RENAISSANCE MINERALS LIMITED – ASX RNS

JB Hi-Fi grabs bigger share after Dick Smith’s demise

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 20 : 9-Feb-16

Listed consumer electronics retailer JB Hi-Fi has posted a 2015-16 interim net profit of $A95.2m, which is 7.5 per cent higher than previously. Sales were 7.7 per cent higher at $A2.12bn, while same-store sales rose by 5.2 per cent. CEO Richard Murray has forecast that the group’s full-year profit will be within the range of $A143m to $A147m, with expectations that sales will total $A3.9bn. Shareholders will receive an interim dividend of $A0.63 per share.

CORPORATES
JB HI-FI LIMITED – ASX JBH, DICK SMITH HOLDINGS LIMITED – ASX DSH, PLATYPUS ASSET MANAGEMENT PTY LTD, CITIGROUP PTY LTD