Coopers breached covenants, but it’s only small beer

Original article by Eli Greenblat
The Australian – Page: 13 & 14 : 23-Dec-19

Coopers Brewery’s 2019 financial report shows that shareholders received a total of $13.789m in dividend payments during the last year. Coopers has also disclosed that its banking covenants were breached in June, although the brewer obtained a waiver from its lender. Meanwhile, Coopers’ net profit fell by 31 per cent in 2019, to $16.4m. Coopers is the largest Australian-owned brewer, and the Coopers family comprises the bulk of its shareholders.

CORPORATES
COOPERS BREWERY LIMITED, CARLTON AND UNITED BREWERIES, ASAHI BREWERIES LIMITED, ANHEUSER-BUSCH INBEV SA/NV, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, LION PTY LTD

Enterprise deals face extinction

Original article by Ewin Hannan
The Australian – Page: 4 : 13-Dec-18

The proportion of workers in the private sector that are covered by enterprise agreement has fallen from 19 per cent in 2013 to 12 per cent in 2017, according the Australia Institute’s Centre for Future Work. Its report shows that the number of private-sector employees who are covered by enterprise agreements has declined by more than 660,000 since 2013. It concludes that if the current trend continues, fewer than two per cent of private sector employees could be covered by enterprise agreements by 2030.

CORPORATES
THE AUSTRALIA INSTITUTE LIMITED

Top 500 companies: booming housing construction boosts builders

Original article by Michael Bleby
The Australian Financial Review – Page: Online : 6-Sep-18

Property and construction companies feature prominently towards the top of the latest list of Australia’s top 500 private companies. Meriton and BGC were in fifth and sixth place, as they were for the previous year, while Brisbane-based Hutchinson Builders rose two places to seventh. Its revenue rose 14.7 per cent to $2.65 billion, with revenue up 20 per cent in both Sydney and Melbourne. Metricon finished at 22nd place in the list, up from 48th place in 2017, while Built rose from 43rd place to 25th.

CORPORATES
MERITON APARTMENTS PTY LTD, BGC (AUSTRALIA) PTY LTD, HUTCHINSON BUILDERS, METRICON HOMES, BUILT PTY LTD, STOCKLAND – ASX SGP, RICHARD CROOKES CONSTRUCTIONS PTY LTD, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR

Private firms too tough on sickies

Original article by Greg Brown
The Australian – Page: 1 & 4 : 22-Jan-18

Federal public servants each took an average of 11.4 days of sick leave in the year to June 2017, compared with 11.5 in the previous year. In contrast, employees in the private sector take an average of 9.5 days of unscheduled leave each year. Public Service Commissioner John Lloyd says some private sector companies foster a culture in which employees are reluctant to take sick leave even if they are genuinely ill, adding that he does not want to see this in the public service. Business leader Tony Shepherd rejects Lloyd’s claims, and attributes the higher levels of unscheduled leave in the public service to poor culture and management.

CORPORATES
AUSTRALIAN PUBLIC SERVICE COMMISSION, DIRECT HEALTH SOLUTIONS PTY LTD, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, AUSTRALIA. DEPT OF HUMAN SERVICES, COMMUNITY AND PUBLIC SECTOR UNION, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, NATIONAL ARCHIVES OF AUSTRALIA, ABORIGINAL HOSTELS LIMITED, AUSTRALIAN PESTICIDES AND VETERINARY MEDICINES AUTHORITY, AUSTRALIA. FISHERIES MANAGEMENT AUTHORITY, AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF FINANCE

In private, Top 500 a blast from the past

Original article by Phil Ruthven
The Australian Financial Review – Page: 42 : 1-Sep-16

IBISWorld has compiled a list of Australia’s 500 largest private companies by revenue. The five biggest groups in this category are: Co-operative Bulk Handling with revenue of $A3,828 billion in 2015-16; 7-Eleven Stores ($A3,823 billion); BGC ($A2,973 billion); Teys Australia – a Cargill Joint Venture ($A2,914 billion) and Meriton Apartments ($A2,900 billion).

CORPORATES
IBISWORLD PTY LTD, CO-OPERATIVE BULK HANDLING LIMITED, BGC, 7-ELEVEN STORES PTY LTD, TEYS AUSTRALIA PTY LTD, MERITON APARTMENTS PTY LTD, VISY INDUSTRIES AUSTRALIA PTY LTD, TERRY WHITE GROUP LIMITED, SUTTONS MOTORS PTY LTD, GOOD GUYS, JB HI-FI LIMITED – ASX JBH, QUEST APARTMENTS PTY LTD, ANYTIME AUSTRALIA PTY LTD, ASI SOLUTIONS PTY LTD

Coalition thinks corporate tax disclosure about right

Original article by Neil Chenoweth
The Australian Financial Review – Page: 11 : 20-Aug-15

The interim report of the Senate inquiry into corporate tax avoidance demonstrates philosophical differences between the Australian Government and the opposition parties. The Australian Labor Party and Australian Greens want more transparency, while the government thinks current disclosure rules are about right. The two government members of the committee, which is headed by Labor’s Sam Dastyari, believe a voluntary disclosure code strikes a balance between the need for transparency and the privacy and competitiveness concerns of business.

CORPORATES
AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN LABOR PARTY, AUSTRALIAN TAXATION OFFICE, AUSTRALIAN GREENS, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS, AUSTRALIA. BOARD OF TAXATION

‘Kidnap’ exemption to be introduced to Parliament

Original article by Joanna Mather
The Australian Financial Review – Page: 11 : 20-Aug-15

Assistant Treasurer Josh Frydenberg has convinced some crossbench senators to support legislation that will exempt about 1,000 private companies from revealing their tax affairs. Independent senator Nick Xenophon is the latest to agree to the "kidnap" exemption, so called because some owners of private companies fear they will be crime targets if their fortunes are revealed. With the Australian Labor Party and Australian Greens opposing the change, the government needs six of the eight crossbenchers to support its bill.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, TEYS BROS (HOLDINGS) PTY LTD, AUSTRALIAN TAXATION OFFICE, BUSINESS COUNCIL OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Good Guys ride the DIY boom to reach top 10

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