CORPORATE PROFITS – AUSTRALIA

Dividends keep climbing despite weak corporate profits

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Original article by Max Mason
The Australian Financial Review – Page: 13 & 18 : 4-Mar-15

Data from JP Morgan shows that the dividend payout ratio for companies in the S&P/ASX 200 increased by about five per cent overall during the February 2015 reporting season. Deutsche Bank in turn estimates that underlying earnings growth rose by about two per cent overall. The benchmark index gained 6.1 per cent during February. Meanwhile, JP Morgan and Citigroup have both scaled back their expectations for growth in earnings per share for the full year

CORPORATES
JP MORGAN AUSTRALIA LIMITED, STANDARD AND POOR’S ASX 200 INDEX, DEUTSCHE BANK AG, CITIGROUP PTY LTD, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, CONTANGO ASSET MANAGEMENT LIMITED, RESERVE BANK OF AUSTRALIA, FIDELITY INVESTMENTS AUSTRALIA LIMITED, S&P CAPITAL IQ

Billabong still has long wave to ride

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 27-Feb-15

Australian-listed Billabong International has posted a 2014-15 interim net profit of $A25.7m, following a $A126.3m loss for the first half of 2013-14. The surfwear group’s EBIT from continuing operations was 4.9 per cent lower at $A42.81m. Billabong has flagged an increase in annual capital expenditure in the next few years, with an upgrade of its supply-chain systems and the implementation of an omni-channel retail platform

CORPORATES
BILLABONG INTERNATIONAL LIMITED – ASX BBG, SURF DIVE N SKI AUSTRALIA PTY LTD, SURFECTION PTY LTD, BEACH CULTURE INTERNATIONAL PTY LTD, WEST 49 INCORPORATED, RVCA

Nine profit takes hit as $150m buyback launched

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Original article by Dominic White, Jared Lynch
The Australian Financial Review – Page: 15 : 27-Feb-15

Australian-listed Nine Entertainment Company has posted a 2014-15 interim net profit of $A88.8m, which is 6.4 per cent lower than previously. The media group’s revenue fell by 1.9 per cent to $A829m. Nine Entertainment will undertake an on-market share buyback worth $A150m over the next year, but CEO David Gyngell says the group is still interested in acquisitions

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, APN OUTDOOR GROUP LIMITED – ASX APO, OOH!MEDIA LIMITED – ASX OML

Boomers will keep Ramsay’s hospital beds full

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Original article by Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 27-Feb-15

Australian-listed Ramsay Health Care has posted a 2014-15 interim net profit of $A191.4m, which is 21.3 per cent higher than previously. The private hospitals group recorded revenue of $A3.3bn for the half-year, an increase of 41.6 per cent. Its Australian division’s EBIT was up 12.6 per cent at $A282.8m and revenue was eight per cent higher at $A2bn. Ramsay expects core net profit for the full year to be 18-20 per cent higher than previously

CORPORATES
RAMSAY HEALTH CARE LIMITED – ASX RHC, GENERALE DE SANTE SA, AUSTRALIAN LABOR PARTY, HYPERION ASSET MANAGEMENT LIMITED

IOOF still on hunt for takeover targets

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Original article by Sally Rose
The Australian Financial Review – Page: 16 : 27-Feb-15

Australian-listed IOOF Holdings has posted a 2014-15 underlying net profit of $A80.58m, which is 39 per cent higher than previously. The financial services group’s statutory net profit rose by 37 per cent to $A65.9m, and revenue was 24 per cent higher at $A458.49m. Shareholders will receive an interim dividend of $A0.25 per share. CEO Chris Kelahar says IOOF is keen for further acquisitions after buying SFG Australia in 2014

CORPORATES
IOOF HOLDINGS LIMITED – ASX IFL, SFG AUSTRALIA LIMITED, JP MORGAN AUSTRALIA LIMITED

Qantas on target for $1b profit

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Original article by Jamie Freed
The Australian Financial Review – Page: 1 & 12 : 27-Feb-15

Qantas has reported a 2014-15 interim net profit of $A204m, compared with a loss of $A235m in the first half of 2013-14. The carrier’s underlying result for the half-year rose from a loss of $A252m to a pre-tax profit of $A367m. Qantas is now tipped to achieve a full-year underlying profit of around $A1bn, following a loss of $A646m in 2013-14. CEO Alan Joyce says the airline’s focus remains on debt reduction, but adds that it could resume paying dividends at some stage

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, UBS HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, MACQUARIE EQUITIES LIMITED, TRANSPORT WORKERS’ UNION, FIJI AIRWAYS, JETSTAR AIRLINES PTY LTD

Monash IVF confident on revenue

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Original article by Jessica Gardner
The Australian Financial Review – Page: 28 : 26-Feb-15

Australian-listed Monash IVF has posted a 2014-15 interim net profit of $A11m, while enquiries from prospective patients rose by four per cent. CEO James Thiedeman forecasts that around 70 per cent of these enquiries will result in new patients for the group. Monash IVF shares closed $A0.05 higher at $A1.405 on 25 February 2015

CORPORATES
MONASH IVF GROUP LIMITED – ASX MVF, FLINDERS FERTILITY

Seven set for uptick

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Original article by Tess Ingram, Anthony Macdonald
The Australian Financial Review – Page: 25 : 26-Feb-15

Seven Group Holdings has posted a 2014-15 interim net profit of $A69.2m, which is 74 per cent lower than previously. The WesTrac division’s sales revenue was down 47 per cent at $A323m, although revenue from equipment servicing and parts sales rose by 16 per cent to $A750m. Meanwhile, Seven Group will undertake an on-market share buyback via Goldman Sachs. The group’s shares closed 11 per cent higher at $A6.85 on 25 February 2015

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, WESTRAC HOLDINGS PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S (AUSTRALIA) PTY LTD, CATERPILLAR, WOODSIDE PETROLEUM LIMITED – ASX WPL

Brighter skies give lift to Flight Centre

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Original article by Jamie Freed
The Australian Financial Review – Page: 17 : 25-Feb-15

Australian-listed Flight Centre Travel Group has posted a 2014-15 interim underlying profit before tax of $A137.6m, which is 5.6 per cent lower than previously. The travel group had advised in late 2014 that its profit for the half-year would be between $A136m and $A142m. Flight Centre expects its underlying profit for the full year of $A360m to $A390m. Shareholders will receive a half-year dividend of $A0.55 per share

CORPORATES
FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, BELL POTTER SECURITIES LIMITED, UBS HOLDINGS PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH

Full beds limit Healthscope’s growth

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Original article by Jessica Gardner
The Australian Financial Review – Page: 17 : 25-Feb-15

Healthscope has posted a 2014-15 interim net profit of $A58.6m, after a loss for the previous corresponding period. The group’s hospital revenue rose by 6.3 per cent to $A938.9m. CEO Robert Cooke notes that Healthscope’s existing hospitals are overstretched, with just 23 new beds added in the last 18 months. The group aims to open nearly 1,000 additional beds in the next three years

CORPORATES
HEALTHSCOPE LIMITED – ASX HSO, HYPERION ASSET MANAGEMENT LIMITED