CORPORATE PROFITS – AUSTRALIA

BHP defies price crashes

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 8 : 25-Feb-15

BHP Billiton has posted 2014-15 interim underlying earnings of $US5.4bn ($A6.9bn, which is 31 per cent lower than previously. The group’s earnings were hit by the sharp decline in the price of iron ore and crude oil. Meanwhile, BHP intends to reduce its capital expenditure by $US3.8bn in 2014-15 and 2015-16. Shareholders will receive an interim dividend of $A0.62 per share, and CEO Andrew Mackenzie says that maintaining its dividend payout ratio is one of the group’s priorities

CORPORATES
BHP BILLITON LIMITED – ASX BHP, NIKKO ASSET MANAGEMENT GROUP, RIO TINTO LIMITED – ASX RIO, ATLAS IRON LIMITED – ASX AGO, BC IRON LIMITED – ASX BCI, ABERDEEN ASSET MANAGEMENT LIMITED, SOUTH32 LIMITED

Cleaning frenzy buoys Godfreys

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Original article by Simon Evans
The Australian Financial Review – Page: 17 : 24-Feb-15

Listed vacuum cleaner retailer Godfreys has posted a 20140-15 interim underlying pro-forma net profit of $A6.4m, with sales of $A90.6m. Godfreys has forecast a full-year profit of $A12.2m. CEO Tom Krulis notes that sales of cleaning products tend to be higher during the month of January, as consumers typically clean more often. He adds that Godfreys plans to expand its product range to include air purifiers

CORPORATES
GODFREYS GROUP LIMITED – ASX GFY, ARCADE FINANCE PTY LTD

Tatts launches new lottery

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Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 20-Feb-15

Tatts Group has posted a 2014-15 interim profit of $A139.2m, which is 14.6 per cent higher than previously. The lotteries division’s EBITDA of $A161.1m was 2.4 per cent higher, and revenue grew by 1.3 per cent to $A1.01bn. The wagering division’s EBITDA and revenue increased by 6.4 per cent and 0.4 per cent respectively. Meanwhile, Tatts will launch a new lottery product called "Set for Life"

CORPORATES
TATTS GROUP LIMITED – ASX TTS, CITIGROUP PTY LTD

High-rollers lift Crown’s earnings

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Original article by Jessica Gardner, Vanessa Desloires
The Australian Financial Review – Page: 13 & 20 : 20-Feb-15

Australian-listed Crown Resorts has posted a 2014-15 interim statutory net profit of $A201.8m, which is 47.2 per cent lower than previously. The result was marred by write-downs totalling $A61.3m and a downturn in gambling activity in Macau. Normalised net profit of $A322m was 2.3 per cent higher and normalised revenue of $A1.7bn was up 17.2 per cent. Shareholders will receive a half-year dividend of $A0.18 per share

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CROWN MELBOURNE LIMITED, MELCO CROWN ENTERTAINMENT LIMITED, BLOOMBERG LP, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, ARNHEM INVESTMENT MANAGEMENT PTY LTD, CITIGROUP PTY LTD, CONSOLIDATED PRESS HOLDINGS LIMITED

Fairfax unveils buyback surprise

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Original article by Max Mason, Dominic White
The Australian Financial Review – Page: 18 : 20-Feb-15

Australian-listed Fairfax Media has reported a 2014-15 interim underlying net profit of $A86m, which is 0.6 per cent lower than previously. Revenue from operations fell by 12.9 per cent to $A943.3m, while the media group will undertake an on-market share buyback over the next 12 months. It plans to repurchase up to 121 million shares, which equates to five per cent of the stock on issue

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, CITIGROUP PTY LTD

IAG’s Wilkins here to stay but has insurance

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Original article by Ruth Liew
The Australian Financial Review – Page: 21 & 24 : 19-Feb-15

Insurance Australia Group has reported a 2014-15 interim net profit of $A579m, which is 10 per cent lower than previously. There was a 17.1 per cent increase in gross written premium, to $A5.6bn, while the group’s underlying margin for the half-year was 13.3 per cent. Shareholders will receive an interim dividend of $A0.13 per share. CEO Mike Wilkins has ruled out standing down in the near-term, but stresses that the group has a number of potential internal successors

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, NRMA LIMITED, CGU INSURANCE AUSTRALIA LIMITED, SUNCORP GROUP LIMITED – ASX SUN, WESFARMERS LIMITED – ASX WES, NIKKO ASSET MANAGEMENT GROUP, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CREDIT SUISSE (AUSTRALIA) LIMITED

Woodside fuelled up for more acquisitions

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 & 26 : 19-Feb-15

Oil and gas producer Woodside Petroleum has posted a net profit of $US2.41bn for the 2014 calendar year, an increase of 38 per cent. The group’s underlying net profit of $US2.42bn was 42 per cent higher than previously, while revenue rose by 25 per cent to $US7.44bn. Shareholders will receive a final dividend of $US1.44 per share. CEO Peter Coleman says Woodside has sufficient capital to consider further large acquisitions should appropriate opportunities arise

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, APACHE ENERGY LIMITED, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, CHEVRON CORPORATION, BERNSTEIN RESEARCH

Sonic hit by Medicare co-payment concerns

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 : 18-Feb-15

Sonic Healthcare has posted a 2014-15 interim profit of $A174m, which is 1.9 per cent lower than previously. EBITDA of $A344m was in line with the previous corresponding period, but CEO Colin Goldschmidt anticipates full-year growth of 2-4 per cent. He notes that uncertainty about Medicare co-payments affected the group’s pathology business in the first half. Sonic shares closed 0.2 per cent lower at $A18.91 on 17 February 2015

CORPORATES
SONIC HEALTHCARE LIMITED – ASX SHL, INDEPENDENT PRACTITIONER NETWORK LIMITED, MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN ETHICAL INVESTMENT LIMITED – ASX AEF

Fortescue pledge to hammer costs

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Original article by Amanda Saunders
The Australian Financial Review – Page: 15 : 18-Feb-15

Australian-listed Fortescue Metals Group has posted a 2014-15 interim net profit of $US331m, which is 81 per cent lower than previously. The group received an average of $US66 per tonne for its iron ore in the half-year, compared with the benchmark price of $US82. CFO Stephen Pearce says Fortescue hopes to reduce its cash costs to $US20 per tonne in the next 15 months. Shareholders will received a half-year dividend of $A0.03

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, VALE SA

SEEK misses the mark, shares tumble 8.7pc

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Original article by Max Mason
The Australian Financial Review – Page: 18 : 18-Feb-15

Listed online jobs advertising group SEEK has posted a 2014-15 interim underlying after-tax net profit of $A94.1m, which is nine per cent higher than previously. The group’s underlying revenue was 17 per cent higher at $A395.3m, and shareholders will receive an interim dividend of $A0.19 per share. Justin Diddams of Citigroup says the underlying profit result was disappointing, and his firm has a "sell" recommendation on the stock

CORPORATES
SEEK LIMITED – ASX SEK, CITIGROUP PTY LTD, HYPERION ASSET MANAGEMENT LIMITED, JOBSTREET CORPORATION BERHAD