CORPORATE PROFITS – AUSTRALIA

How stocks have fared in a post-results world

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Original article by Patrick Commins
The Australian Financial Review – Page: 29 : 27-Aug-14

Analysis by Bloomberg shows that Nine Entertainment Group, Slater & Gordon, Seven West Media, Crown Resorts and Rio Tinto are the most popular Australian-listed stocks among analysts as the August 2014 reporting season winds down. Meanwhile, M2 Group and OzForex have received the biggest upgrades in terms of analysts’ recommendations, while Tatts Group and Lynas Corporation are the stocks that have been downgraded the most

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SLATER AND GORDON LIMITED – ASX SGH, SEVEN WEST MEDIA LIMITED – ASX SWM, CROWN RESORTS LIMITED – ASX CWN, RIO TINTO LIMITED – ASX RIO, M2 GROUP LIMITED – ASX MTU, OZFOREX GROUP LIMITED – ASX OFX, TATTS GROUP LIMITED – ASX TTS, LYNAS CORPORATION LIMITED – ASX LYC, BLOOMBERG LP, THE REJECT SHOP LIMITED – ASX TRS, CARSALES.COM LIMITED – ASX CRZ, RUSSELL INVESTMENTS PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, COCHLEAR LIMITED – ASX COH, ALS LIMITED – ASX ALQ, LEIGHTON HOLDINGS LIMITED – ASX LEI, COCA-COLA AMATIL LIMITED – ASX CCL

Almond harvest profits go nuts

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Original article by Sue Neales
The Australian – Page: 20 : 26-Aug-14

Select Harvests has posted a 2013-14 full-year net profit increase to an all-time high $A29m, as almond prices rose by a third and this compensated for a harvest that was down 17% after a poor season. The company has acquired three additional orchards and will source $A47m in fresh capital via a share issue priced at $A5.35. The final distribution is $A0.09 unfranked. MD Paul Thompson said Select Harvests was aiming to reduce its gearing to below 40%

CORPORATES
SELECT HARVESTS LIMITED – ASX SHV

Caltex to axe 350 jobs ‘to become stronger’

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 26-Aug-14

Caltex Australia has announced a 2014 interim net profit increase of 1% to $A173m, on revenue that also rose 11% to reach $A12.771bn. The six-month distribution is $A0.20, fully franked. CEO Julian Segal said the Australian-listed petroleum refining and service stations group would make another 350 workers redundant after 400 jobs were lost in the shutdown of the Kurnell refinery. Overall a tenth of the employees of Caltex will be laid off

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX

Shareholders get dividend from nib

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Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 26-Aug-14

NIB Holdings has posted a 2013-14 net profit of $A69.9m, which is four per cent higher than previously. The private health insurer’s operating profit increased by 4.3 per cent to $A72.3m, and revenue was up 15 per cent at $A1.53bn. Shareholders will receive a special dividend of $A0.09 per share. MD Mark Fitzgibbon notes that some customers did not renew their policies after NIB increased its premiums by 7.99 per cent

CORPORATES
NIB HOLDINGS LIMITED – ASX NHF, MEDIBANK PRIVATE LIMITED, CLSA AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, ISELECT LIMITED – ASX ISU, COMPARE THE MARKET PTY LTD

Debutantes on parade as company profit season winds down

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Original article by Sally Rose, Jonathan Shapiro
The Australian Financial Review – Page: 15 & 20 : 25-Aug-14

A number of companies that listed on the Australian sharemarket in the last year will shortly release their maiden full-year results as listed companies. These include Virtus Health, Spotless Group and Nine Entertainment Group. Meanwhile, Tanya Branwhite of Macquarie Group notes that increased dividends have been a key feature of the August 2014 reporting season

CORPORATES
VIRTUS HEALTH LIMITED – ASX VRT, SPOTLESS GROUP HOLDINGS LIMITED – ASX SPO, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE GROUP LIMITED – ASX MQG, PERPETUAL INVESTMENTS, PERPETUAL LIMITED – ASX PPT, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD, RESERVE BANK OF AUSTRALIA, NAVITAS LIMITED – ASX NVT, G8 EDUCATION LIMITED – ASX GEM, AURIZON HOLDINGS LIMITED – ASX AZJ, WOOLWORTHS LIMITED – ASX WOW, TELSTRA CORPORATION LIMITED – ASX TLS, WESFARMERS LIMITED – ASX WES, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, DICK SMITH HOLDINGS LIMITED – ASX DSH, MONADELPHOUS GROUP LIMITED – ASX MND, BRADKEN LIMITED – ASX BKN, DOWNER EDI LIMITED – ASX DOW, WORLEYPARSONS LIMITED – ASX WOR, UGL LIMITED – ASX UGL, TRANSFIELD SERVICES LIMITED – ASX TSE, MONASH IVF GROUP LIMITED – ASX MVF, VEDA GROUP LIMITED – ASX VED, JAPARA HEALTHCARE LIMITED – ASX JHC, ISELECT LIMITED – ASX ISU, ISENTIA GROUP LIMITED – ASX ISD, CITIGROUP PTY LTD

Treasury thirsty for acquisitions

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Original article by Richard Gluyas
The Australian – Page: 19 : 22-Aug-14

Treasury Wine Estates has posted a 2013-14 full-year net loss of $A100.9m. EBITS of $A193m was not enough to offset provisioning worth $A280.6m for impaired assets. EBITS in the Australasian operations fell 31.5% to $A75.1m, and that for the US division was down 7% at $A80m once foreign exchange rate fluctuations were taken into account. On 21 August 2014 the stock closed $A0.13 lower at $A5.20, also the offer price in rival takeover bids by private equity firms TPG Capital and Kohlberg Kravis Roberts with Rhone Capital. CEO Mike Clarke said the company wants to expand in the US premium wines segment

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, KOHLBERG KRAVIS ROBERTS AND COMPANY, KKR AND COMPANY LP, RHONE CAPITAL LLC, TPG CAPITAL LP, PENFOLDS WINES PTY LTD, ROSEMOUNT ESTATES PTY LTD, LINDEMANS WINES PTY LTD, CITIGROUP PTY LTD

Pokies levy drags down Tatts profit

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Original article by Jessica Gardner
The Australian Financial Review – Page: 15 : 22-Aug-14

Tatts Group has posted a 2013-14 net profit of $A200.4m, which is 19 per cent lower than previously. The result was marred by factors such as a $A42.6m poker machine levy, while its 2012-13 result had been boosted by a one-off tax benefit. The wagering division’s revenue was down two per cent at $A642.3m, while the lotteries division’s revenue was 4.3 per cent lower at $A1.9bn. CEO Robbie Cooke says Tatts will launch a new website and a new wagering brand

CORPORATES
TATTS GROUP LIMITED – ASX TTS, CITIGROUP PTY LTD, PENGANA CAPITAL LIMITED

Village eyes Asia growth, sees tougher 2014 at box office

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Original article by Madeleine Heffernan
The Australian Financial Review – Page: 21 : 22-Aug-14

Village Roadshow has posted a 2013-14 net profit of $A45.8m, which is 10 per cent lower than previously. The group’s income from continuing operations rose by three per cent to $A965.8m. EBITDA for Village’s cinemas business was $A62.6m, while the theme park division’s EBITDA was $A105.6m. CEO Graham Burke is upbeat about the outlook for both divisions in 2014-15, although he expects lower cinema earnings in Australia

CORPORATES
VILLAGE ROADSHOW LIMITED – ASX VRL, WET `N’ WILD WATER PARK, BAILLIEU HOLST LIMITED, ORD MINNETT GROUP LIMITED, HOYTS CINEMAS LIMITED

Woodside on M&A chase

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 21-Aug-14

Woodside Petroleum has posted a 2014 interim underlying net profit of $US1.136bn, which is 33 per cent higher than previously. Revenue was 24 per cent higher at $US3.55bn. CEO Peter Coleman says the group plans to spend up to $A5bn on large acquisitions, which could potentially include Apache’s 13 per cent stake in the Wheatstone LNG project. Andrew Williams of RBC Capital Markets believes that Woodside may also consider Apache’s Kitimat LNG project in Canada

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL,APACHE ENERGY LIMITED,RBC CAPITAL MARKETS,BERNSTEIN RESEARCH,CHEVRON CORPORATION

Perked-up SEEK aims to complete JobStreet bid in weeks

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Original article by Madeleine Heffernan
The Australian Financial Review – Page: 19 : 21-Aug-14

Australian-listed SEEK has posted a 2013-14 underlying net profit of $A179.7m. The online job advertisement website operator had revenue of $A756.4m for the financial year, while shareholders will receive a dividend of $A0.16 per share for the second half. Meanwhile, the group has advised that it expects to pay $A636m for JobStreet, with the deal likely to be finalised in September 2014

CORPORATES
SEEK LIMITED – ASX SEK,JOBSTREET CORPORATION BERHAD,SINGAPORE. COMPETITION COMMISSION,CITIGROUP PTY LTD,LINKEDIN LIMITED,MORGANS FINANCIAL LIMITED,CARSALES.COM LIMITED – ASX CRZ,REA GROUP LIMITED – ASX REA