CORPORATE PROFITS – AUSTRALIA

CCA chief determined to bring back its fizz

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 18 : 18-Feb-15

Coca-Cola Amatil has posted a 2014 underlying net profit of $A375.5m, which is 25.3 per cent lower than previously. EBIT was 21.8 per cent lower at $A651.5m and sales were down 1.9 per cent at $A4.94bn. CEO Alison Watkins is upbeat about the group’s outlook in 2015, citing factors such as cost savings and new product launches. Shareholders will receive a final dividend of $A0.22 per share

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, THE COCA-COLA COMPANY, CITIGROUP PTY LTD, ASAHI BREWERIES LIMITED, PEPSICO AUSTRALIA PTY LTD, SCHWEPPES AUSTRALIA PTY LTD, MOUNT FRANKLIN NATURAL

Challenger lifts interim dividend

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 18-Feb-15

Listed financial services group Challenger has posted a 2014-15 interim normalised net profit of $A155m, which is five per cent lower than previously. Assets under management rose by 17 per cent to $A57.2bn, and shareholders will receive an interim dividend of $A0.145 per share. Challenger aims for growth of 11-13 per cent in sales of its annuity products for 2014-15

CORPORATES
CHALLENGER LIMITED – ASX CGF, COLONIAL FIRST STATE GROUP LIMITED, VICSUPER PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIA. DEPT OF SOCIAL SERVICES

Steadfast set for Asian buy

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Original article by Ruth Liew
The Australian Financial Review – Page: 20 : 17-Feb-15

Australian-listed Steadfast Group has reported a 2014-15 interim profit of $A21m, which is 11.5 per cent higher than previously. The insurance broking group’s cash earnings per share also rose by 11.5 per cent, to $A4.18. Steadfast has secured a deal to acquire Body Corporate Brokers and two underwriting agencies from QBE Insurance Group for $A290m. It is keen to pursue further acquisitions in Australia, as well as in Singapore

CORPORATES
STEADFAST GROUP LIMITED – ASX SDF, QBE INSURANCE GROUP LIMITED – ASX QBE, BODY CORPORATE BROKERS, UNDERWRITING AGENCIES OF AUSTRALIA PTY LTD, CHU UNDERWRITING AGENCIES PTY LTD, UBS HOLDINGS PTY LTD, IC FRITCH, JP MORGAN AUSTRALIA LIMITED, MACQUARIE CAPITAL PTY LTD, STANDARD AND POOR’S ASX 200 INDEX

Good news expected for Macquarie Group

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 21 : 17-Feb-15

Macquarie Group is tipped to post a 2014-15 profit of $A1.46bn, and there has been speculation that the group could again upgrade its earnings forecast. Macquarie upgraded its full-year earnings guidance in January, due to factors such as the lower Australian dollar and a high level of volatility in commodity prices. Macquarie posted a profit of $A1.27bn for the year to 31 March 2014. Its shares have gained 17.5 per cent so far in 2015

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, STANDARD AND POOR’S ASX 200 FINANCIALS INDEX, ARNHEM INVESTMENT MANAGEMENT PTY LTD, GE CAPITAL CORPORATION, JEFFERIES LLC, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Stokes’ Seven may face $1 billion writedown

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Original article by Dominic White
The Australian Financial Review – Page: 29 : 16-Feb-15

Analysts expect Seven West Media to post a 2014-15 interim net profit of about $A207m. However, there is speculation that the media group could write down the carrying value of its assets by at least $A1bn when its half-year results are released on 18 February 2015. Seven’s net assets were valued at $A2.9bn in June 2014, but a sharp fall in its share price in the last 12 months has reduced its market capitalisation to $A1.43bn

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE NETWORK AUSTRALIA LIMITED, CITIGROUP PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Simplot Australia hit by restructuring costs

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Original article by Simon Evans
The Australian Financial Review – Page: 15 : 16-Feb-15

Food group Simplot Australia posted an after-tax net profit of $A33.8m for the year to 30 August 2014, which is 26 per cent lower than previously. The result was marred by restructuring costs, which included redundancy payments totalling $A22.8m. MD Terry O’Brien says reducing costs was necessary for Simplot to remain competitive. The group’s sales revenue rose by 4.65 per cent to $A1.24bn

CORPORATES
SIMPLOT AUSTRALIA (HOLDINGS) PTY LTD, JR SIMPLOT AND COMPANY, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, AUSVEG LIMITED, HJ HEINZ COMPANY AUSTRALIA LIMITED, McCAIN FOODS (AUST) PTY LTD

Scrap 15pc ownership cap: Funke Kupper

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Original article by James Eyers
The Australian Financial Review – Page: 17 : 13-Feb-15

ASX Limited has reported a profit rise of 4.7 per cent for the first half of 2014-15. ASX CEO Elmer Funke Kupper said on 12 February 2015 that the stock exchange operator’s ownership cap of 15 per cent is no longer needed and should be removed. He says that globally, stock exchanges are being consolidated and the Australian stock exchange should be allowed to be part of this trend

CORPORATES
ASX LIMITED – ASX ASX, CHI-X AUSTRALIA PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, COUNCIL OF FINANCIAL REGULATORS

David Jones profit up 10.3 per cent under new owners

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 13-Feb-15

David Jones has posted an operating profit of $A107m for the five months to December 2014, which is 10.3 per cent higher than previously. Its department stores division recorded earnings of $A100m, an increase of 14.9 per cent. Woolworths Holdings stablemate Country Road posted 9.4 per cent growth in operating profit. South Africa-based Woolworths has reported a 2014-15 interim pre-tax profit of R9.2bn ($A320m), an increase of 29.8 per cent

CORPORATES
DAVID JONES LIMITED, COUNTRY ROAD LIMITED, WOOLWORTHS HOLDINGS LIMITED, AMERICAN EXPRESS COMPANY

Investors win with Telstra plan

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

Telstra has posted a 2014-15 interim net profit of $A2.1bn, which is 21.7 per cent higher than previously. The telco boasted revenue of $A13bn for the half-year, while its mobile subscriber base rose by 366,000 to 16.4 million. Shareholders will receive an interim dividend of $A0.15 per share, although some market watchers had anticipated a higher payout. Telstra will also resume its dividend reinvestment plan, which has been dormant since 2008

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT, CREDIT SUISSE (AUSTRALIA) LIMITED, NIKKO ASSET MANAGEMENT GROUP

Rio Tinto leads $10b in payouts

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 12 : 13-Feb-15

Rio Tinto’s underlying earning for calendar 2014 were nine per cent lower than previously at $US9.3bn, although the result was better than analysts had expected. Rio will repurchase some $US2bn ($A2.6bn) worth of its shares, while a 12 per cent increase in its full-year dividend means a total of $US6bn ($A7.8bn) will be returned to shareholders. The resources group’s net debt has been reduced to $A12.5bn, compared with $US22bn in mid-2013

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, BHP BILLITON LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, TRANSURBAN GROUP LIMITED – ASX TCL, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT