CORPORATE PROFITS – AUSTRALIA

Optus sets bar high for Premier League games

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Original article by David Ramli
The Australian Financial Review – Page: 18 : 13-Nov-15

Singtel Optus has posted a 2015-16 interim net profit of $A426m net profit, which is eight per cent higher than previously. EBITDA and revenue were up 7.8 per cent and 9.3 per cent respectively. Meanwhile, Optus is yet to finalise the packages and prices for its coverage of English Premier League (EPL) matches, for which it recently gained the exclusive Australian rights. CEO Allen Lew has stressed that Optus’s live streams of EPL matches will be in high definition.

CORPORATES
SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, TELSTRA CORPORATION LIMITED – ASX TLS, VODAFONE HUTCHISON AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, FETCHTV PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Analysts cool on CBA’s $2.4b profit

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Original article by Clancy Yeates
The Australian Financial Review – Page: 13 & 17 : 6-Nov-15

The Commonwealth Bank has posted an unaudited profit of $A2.4bn for the September 2015 quarter, which is four per cent higher year-on-year. The major bank’s trading update also indicated that its exposure to impaired and doubtful loans fell from $A6bn to $A5.5bn during the period, while deposits accounted for 63 per cent of its funding. The group’s tier one capital ratio rose to 9.8 per cent during the quarter following a $A5.1bn equity raising.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, WATERMARK FUNDS MANAGEMENT PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, FOLKESTONE MAXIM ASSET MANAGEMENT LIMITED

Nib upgrades profit forecast for 2015-16

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Original article by Tim Binsted
The Australian Financial Review – Page: 22 : 5-Nov-15

Australian-listed private health fund NIB Holdings has advised that its 2015-16 statutory profit is likely to be within the range of $A90m to $A100m. The group had previously forecast a profit of $A85m to $A90m and has attributed the improved forecast to a strong performance in the first quarter. Chairman Steve Crane says NIB gained more than 23,000 additional policyholders in 2014-15, and now provides health insurance for more than one million people.

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

Domino’s dishes up bigger profit but investors still hungry

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 & 24 : 5-Nov-15

Domino’s Pizza Enterprises expects 25 per cent growth in underlying net profit and EBITDA for 2015-16. The listed fast food group had previously forecast growth of 20 per cent for the fiscal year. Domino’s posted a net profit of $A64m in 2014-15, and analysts expect this to top $A81.2m in 2015-16. Domino’s now boasts more than 1,500 stores in six countries, and it intends to open at least 260 in 2015. Domino’s shares closed $A0.24 lower at $A47.65 on 4 November 2015.

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, MACQUARIE EQUITIES LIMITED, PIZZA MOGUL, PIZZA SPRINT

Kikki.K just outpaces Smiggle

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Original article by Sue Mitchell
The Australian Financial Review – Page: 29 : 4-Nov-15

Australian retailer Kikki.K has posted a 2014-15 net profit of $A1.1m, while sales rose by 28 per cent to $A60.9m. The stationery retailer’s sales and store numbers have risen strongly in the last five years. Rival stationery retailer Smiggle posted sales of $A132.6m in fiscal 2015, which is 26 per cent higher than previously, while OfficeWorks’ sales were up 8.8 per cent at $A1.7bn.

CORPORATES
KIKKI.K PTY LTD, SMIGGLE PTY LTD, PREMIER INVESTMENTS LIMITED – ASX PMV, OFFICEWORKS SUPERSTORES PTY LTD, WESFARMERS LIMITED – ASX WES, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BOOST JUICE PTY LTD, ECORP LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, JURLIQUE INTERNATIONAL PTY LTD, KORDA MENTHA AND COLLEAGUES PTY LTD, 333 CAPITAL PTY LTD

ANZ calms the market on dividends fears

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Original article by Clancy Yeates, James Eyers
The Australian Financial Review – Page: 13 & 17 : 30-Oct-15

The ANZ Bank has posted a cash profit of $A7.2bn for 2014-15, which is one per cent higher than previously. However, its Australian division’s cash profit rose by seven per cent. The group’s return on equity fell from 15.4 per cent to 14 per cent in 2015-16, and CEO Mike Smith says it will abandon its goal of lifting this to 16 per cent. He has also stressed that ANZ will not reduce its dividend payout in order to offset the cost of complying with new capital requirements.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CITIGROUP PTY LTD, CADENCE CAPITAL LIMITED – ASX CDT, DEUTSCHE BANK AG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Ten at last finding backbone

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Original article by Max Mason
The Sydney Morning Herald – Page: 19 : 27-Oct-15

Ten Network has posted a 2014-15 loss of $A312.2m, while its underlying EBITA loss was $A12m. CEO Paul Anderson notes that Ten’s audience share has reached a four-year high of 24.8 per cent in 2015. Ten’s share of advertising revenue rose to 22.2 per cent in September, and Anderson says Ten wants these two measures to reach parity. He has also ruled out live streaming of its three TV channels in the near-term, arguing that it is not commercially viable at present.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, SMI MEDIA INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD

Bank ‘power’ to protect $30b profits

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Original article by Shaun Drummond, Patrick Commins, Clancy Yeates, Joyce Moullakis
The Australian Financial Review – Page: 1 & 8 : 26-Oct-15

Some fund managers believe that Australian bank customers rather than shareholders are likely to bear the brunt of complying with new capital requirements. Australian Prudential Regulation Authority chairman Wayne Byres recently suggested that shareholders should expect a slightly lower return as a result of the new requirements. However, all four major banks have now lifted their variable mortgage loan interest rates. Meanwhile, the major banks are poised to post a combined profit in excess of $A30bn for 2014-15.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AURORA FUNDS MANAGEMENT LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, BELL POTTER SECURITIES LIMITED, WATERMARK FUNDS MANAGEMENT PTY LTD, CITIGROUP PTY LTD, CONTANGO ASSET MANAGEMENT LIMITED, ARGO INVESTMENTS LIMITED – ASX ARG, CLYDESDALE BANK PLC, MACQUARIE GROUP LIMITED – ASX MQG, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED

Westpac to stick with dividend lift

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Original article by James Eyers
The Australian Financial Review – Page: 27 & 30 : 15-Oct-15

Westpac’s unaudited preliminary financial accounts for 2014-15 show that it has posted a full-year cash profit of $A7.82bn, which is three per cent higher than previously. Investors will receive a fully franked final dividend of $A0.94 per share, compared with $A0.92 in 2013-14, while Westpac also intends to pay a higher dividend in 2015-16. Westpac shares have been placed in a trading halt until 19 October 2015 due to the group’s $A3.5bn capital raising.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, MOODY’S INVESTORS SERVICE INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

BoQ chief glimpses a sunnier state for bank

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Original article by Shaun Drummond
The Australian Financial Review – Page: 13 & 16 : 9-Oct-15

Bank of Queensland has posted 2014-15 cash earnings of $A$357m, which is 19 per cent higher than previously. Revenue was 17 per cent higher at $A1.08bn, while its home loan book increase by nine per cent to $A25.6bn. The value of all loans rose by seven per cent to $A40.9bn in total. CEO Jon Sutton is upbeat about the regional bank’s earnings outlook, noting that it should benefit from factors such as new capital requirements for its larger peers.

CORPORATES
BANK OF QUEENSLAND LIMITED – ASX BOQ, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, CONTANGO ASSET MANAGEMENT LIMITED, BELL POTTER SECURITIES LIMITED, WATERMARK FUNDS MANAGEMENT PTY LTD, VIRGIN MONEY (AUSTRALIA) PTY LTD