CORPORATIONS – AUSTRALIA – GROWTH

ME Bank aims for rapid mortgage growth despite credit rules

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Original article by Clancy Yeates
The Australian Financial Review – Page: 19 : 23-Jun-15

Industry superannuation fund-backed ME Bank hopes to increase annual growth in home loan customers to 20 per cent over the next three years, according to CEO Jamie McPhee. This compares with its current growth rate of about 10 per cent a year. McPhee adds that a $A90m capital investment in ME Bank’s IT systems will increase efficiencies and support its growth ambitions by allowing the group to offer a wider range of home loan products.

CORPORATES
ME BANK, MEMBERS EQUITY BANK PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSSIE HOME LOANS LIMITED, MORTGAGE CHOICE LIMITED – ASX MOC

GenesisCare in no rush over billion-dollar IPO

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Original article by Simon Evans
The Australian Financial Review – Page: 13 : 12-Jun-15

Private equity-owned GenesisCare operates 25 cancer treatment facilities in Australia, and is keen to pursue growth domestically and internationally. MD Dan Collins says the group is considering a range of options, including an IPO, although he says GenesisCare is in no hurry to list on the sharemarket. GenesisCare posted EBITDA of $A46.4m in 2013-14, with revenue of $242.5m for the financial year.

CORPORATES
GENESIS CARE PTY LTD, KOHLBERG KRAVIS ROBERTS AND COMPANY, KKR AND COMPANY LP, THE ROYAL AUSTRALIAN AND NEW ZEALAND COLLEGE OF RADIOLOGISTS, GREENSTONE LIMITED, HOLLARD INSURANCE GROUP, GREAT BRITAIN. NATIONAL HEALTH SERVICE, UBS HOLDINGS PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RAMSAY HEALTH CARE LIMITED – ASX RHC

Bunnings: still ‘plenty of room to grow’

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 11-Mar-15

Citigroup notes that Australia now boasts significantly more hardware stores per capita than the US and the UK. Wesfarmers-owned Bunnings aims to open 20 new stores annually over the next two years. Citigroup warns that Bunnings’ margins are likely to be affected by its growing market penetration, but Bunnings MD John Gillam argues that the group only has a 17 per cent share of the home improvement market at present

CORPORATES
WESFARMERS BUNNINGS LIMITED, WESFARMERS LIMITED – ASX WES, CITIGROUP PTY LTD, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, METCASH LIMITED – ASX MTS, MITRE 10 LIMITED, THE HOME DEPOT INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, COLES GROUP LIMITED, ALDI STORES SUPERMARKETS PTY LTD

South32 to ‘walk before it can run’

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Original article by James Chessell
The Australian Financial Review – Page: 13 & 18 : 16-Feb-15

Analysts estimate that South32 will have a market capitalisation of between $A11bn and $A15bn when it lists on the Australian sharemarket in mid-2015. CEO Graham Kerr says that maximising the group’s existing projects and reducing costs will be its main focus at first, rather than acquisitions. However, Paul Young of Deutsche Bank believes that the BHP Billiton spin-off will have to pursue acquisitions, as its scope for organic growth is limited

CORPORATES
SOUTH32 LIMITED, BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG, GLENCORE PLC

Aldi liquor and food sales beat Coles, Woolies

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Original article by Sue Mitchell
The Australian Financial Review – Page: 11 & 16 : 21-Jan-15

The Australian arm of German grocery retailer Aldi has posted food and liquor sales of $A6bn for calendar 2014, which is 13 per cent higher than previously. Supermarket rivals Coles and Woolworths achieved sales growth of 4.6 per cent and 4.7 per cent respectively. Aldi Australia opened 25 stores in 2014, and now boasts 366. MD Tom Daunt notes that Aldi has a market share of about 11 per in the eastern states, and says its expansion into South Australia and Western Australia could eventually lift this to around 15 per cent

CORPORATES
ALDI STORES SUPERMARKETS PTY LTD, ALDI EINKAUF GMBH & CO OHG, COLES SUPERMARKETS AUSTRALIA PTY LTD, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, UBS HOLDINGS PTY LTD, APPLE INCORPORATED, GOOGLE INCORPORATED

BHP to live within its means

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 19 : 25-Nov-14

BHP Billiton has indicated that its focus will be on maximising production at its existing assets rather than pursuing large acquisitions. CEO Andrew Mackenzie has told an investor briefing that any future acquisitions are likely to be restricted to conventional oil and gas assets. BHP will also continue to seek productivity improvements and reduce capital expenditure, with plans to scale back the latter by $US600m in 2014-15 and $US1bn in 2015-16

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, HESS CORPORATION, CHEVRON CORPORATION, CITIGROUP PTY LTD

George Weston Foods hungry for acquisitions

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 11-Nov-14

George Weston Foods boasts a 34 per cent share of Australia’s packaged bread market, and CEO Andrew Reeves says it aims to topple market leader Goodman Fielder. George Weston has ramped up its marketing activities in the last several years and reduced its production and distribution costs. Reeves says the group will consider growth options such as joint ventures or acquisitions in sector such as specialty and artisan breads

CORPORATES
GEORGE WESTON FOODS LIMITED, ASSOCIATED BRITISH FOODS PLC, GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, TIP TOP BAKERIES, PRIMARK STORES LIMITED, AB MAURI, LION PTY LTD, COCA-COLA AMATIL LIMITED – ASX CCL

Iconic rides $3b wave in e-retail

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Original article by Paul Smith
The Australian Financial Review – Page: 23 & 25 : 14-Oct-14

The Iconic’s website boasts about three million visitors each month, according to MD Adam Jacobs. He says there are no plans for the online clothing retailer to list on the Australian sharemarket at present, and the priority is to expand the company and make it the leading player in its sector. The Iconic raised $A25m from venture capital firms in January 2014, and it raised an additional $A28m in July

CORPORATES
THEICONIC.COM.AU, INTERNET SERVICES AUSTRALIA 1 PTY LTD, ROCKET INTERNET GMBH, ZALANDO LIMITED, FRANKFURT STOCK EXCHANGE, AUSTRALIA POST, NIKE INCORPORATED, ADIDAS-SALOMON AG, RIVER ISLAND CLOTHING COMPANY LIMITED, DOROTHY PERKINS, HUGO BOSS, CALVIN KLEIN INCORPORATED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, WOOLWORTHS HOLDINGS LIMITED

Good Guys ride the DIY boom to reach top 10

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Original article by Glenda Korporaal
The Australian – Page: 19 : 15-Sep-14

Home electronics retailers The Good Guys now boasts annual sales of $A2bn, with the group benefiting from growing interest in home renovations. The Good Guys now has 100 stores nationwide, and it has a top-10 ranking in IBISWorld’s latest list of Australia’s 500 largest privately-owned companies. Chairman Andrew Muir says The Good Guys’ status as a private company means it has greater flexibility than listed rivals

CORPORATES
THE GOOD GUYS, THE MUIR ELECTRICAL COMPANY PTY LTD, JB HI-FI LIMITED – ASX JBH, THE BLACKSTONE GROUP LP, WESFARMERS LIMITED – ASX WES, WESFARMERS BUNNINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BAYSWATER BULK, BRASHS PTY LTD

Treasury in hunt for US assets

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Original article by Eli Greenblat
The Australian Financial Review – Page: 15 & 20 : 25-Aug-14

Treasury Wine Estates has reduced costs by $A35m since Michael Clarke became CEO earlier in 2014. Clarke says the group’s major shareholders are very supportive of plans to pursue growth via "bolt-on" acquisitions in the US. He adds that both of Treasury’s private equity suitors have also supported his growth strategy. Treasury’s 2013-14 net loss of $A100.9m was primarily due to some $A281m worth of write-downs

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, TPG CAPITAL LP, FOSTER’S GROUP LIMITED, BERINGER WINE ESTATES HOLDINGS INCORPORATED, LUCOZADE