Automotive Holdings Group Ltd(AHG):
Automotive Holdings Group is selling its refrigerated logistics business to China’s HNA Group in a $400 million deal. The car and truck dealership owner says HNA subsidiary CC Logistics will pay $280 million in cash and assume $120 million of finance lease liabilities for its Rand, Harris, Scott’s and JAT businesses. AHG (AHG), which experienced a 3.1 per cent drop in net profit for the three months to October, says it had not initiated the sale but that the proceeds would provide resources for further growth and possible capital management initiatives. The deal is subject to Foreign Investment Review Board approval.
Woolworths Limited (WOW):
Woolworths chief executive Brad Banducci says the retailer has pivoted from “turnaround to transformation”, as years of hard work cutting costs and listening to customers starts to pay dividends with better performances from its flagship supermarkets arm. Addressing shareholders at the company’s annual general meeting in Melbourne this morning, Mr Banducci also confirmed that the first quarter positive sales momentum for its supermarket chains, as well as most of its other retail businesses, had continued into November. Last month Woolworths proved it was in the ascendancy in the supermarket wars as it trounced arch rival Coles over the first quarter of 2018, although both chains were dragged lower by food deflation thanks to a bumper fruit and vegetable harvest. Woolworths revealed growth in food comparable sales of 4.9 per cent for the first quarter, easily eclipsing Coles which, in the previous week, had recorded same store sales growth of just 0.3 per cent. The first quarter sales growth for Woolworths’ supermarkets division was the best quarterly sales performance in nearly 10 years. All businesses -supermarkets, hotels, Endeavour Drinks and Big W - grew their top line sales. Big W’s sales growth of 2.9 per cent was its first like-for-like sales growth in a number of quarters.
Tatts Group Limited (TTS):
Tatts Group shareholders will have to wait a little longer to vote on a deal with Tabcorp after the company again pushed back a meeting to finalise the takeover. The Australian-listed company (TTS) told its shareholders today that given the Australian Competition Tribunal only released the reasons for its decision to approve the deal yesterday, more time was needed to update investors on the latest information available. A vote was expected to be held next Thursday at the company’s annual general meeting but that has now been postponed until Tuesday, December 12. The tribunal outlined that it approved the deal to merge Tabcorp and Tatts because the transaction was not anti-competitive and that it tracked an industry trend of consolidation. Tabcorp and Tatts had been hoping to finalise the deal by December 14 but are now aiming to complete it by year end. The combined group is expected to have pro-forma annual revenue of about $5bn. It will have totalisator and fixed odds licences and retail wagering networks in NSW, Victoria, Queensland, South Australia, Tasmania, the ACT and the Northern Territory, offering wagering products in about 4300 retail outlets .
Telstra Corporation Ltd (TLS):
Telstra is almost half way through lighting up 577 mobile base stations across regional Australia as part of the federal government’s mobile black spot program. The telco today switched on its 250th base station. Situated along the Landsborough Highway in Queensland, it will mean better coverage along the road between Winton and Cloncurry. Telstra is rolling out 110 base stations in Queensland. Its boss, Andrew Penn, said the telco is committed to rolling out mobile infrastructure in regional Australia. Telstra’s participation in two rounds of the black spot program has so far seen it roll out new mobile coverage to more than 130,000 square kilometres. With the mobile roaming issue now largely taken off the table, Telstra is making the most of the federally-assisted program to accelerate the reach of its network. Coverage, for the time being, remains an advantage for Telstra and the key reason for its fierce opposition to Vodafone Hutchison Australia’s push to get regulated access to roam on its network.
South32 Ltd (S32):
Diversified miner South32 has again issued a warning about costs, saying it expects raw material input prices to rise across the industry. chief executive Graham Kerr told the company's annual general meeting in Perth that they will not be immune to additional cost inflation if these external pressures persist across the remainder of the year". South32 will seek more exposure to base metals through exploration partnerships. The company's shares rose 1.8 per cent to $3.38 at 2.05pm on 23rd Nov. Last month, South32 warned that creeping external pressures such as the weaker US dollar could push the miner's costs higher than its full-year guidance.
Primary Health Care Limited (PRY):
Primary Health Care has warned its investors to expect further challenges with its medical centres division as GP recruitment fails to hit the level needed to improve margins. Chief executive Malcolm Parmenter told investors at today’s annual meeting in Sydney that the medical centres division was suffering from a margin decline as the company moved through the accounting and commercial impacts of transitioning GPs onto new contracts. Shares in Primary were off 3.3 per cent at $3.44 following his speech.
（Source: AIMS）
Automotive Holdings Group is selling its refrigerated logistics business to China’s HNA Group in a $400 million deal. The car and truck dealership owner says HNA subsidiary CC Logistics will pay $280 million in cash and assume $120 million of finance lease liabilities for its Rand, Harris, Scott’s and JAT businesses. AHG (AHG), which experienced a 3.1 per cent drop in net profit for the three months to October, says it had not initiated the sale but that the proceeds would provide resources for further growth and possible capital management initiatives. The deal is subject to Foreign Investment Review Board approval.
Woolworths Limited (WOW):
Woolworths chief executive Brad Banducci says the retailer has pivoted from “turnaround to transformation”, as years of hard work cutting costs and listening to customers starts to pay dividends with better performances from its flagship supermarkets arm. Addressing shareholders at the company’s annual general meeting in Melbourne this morning, Mr Banducci also confirmed that the first quarter positive sales momentum for its supermarket chains, as well as most of its other retail businesses, had continued into November. Last month Woolworths proved it was in the ascendancy in the supermarket wars as it trounced arch rival Coles over the first quarter of 2018, although both chains were dragged lower by food deflation thanks to a bumper fruit and vegetable harvest. Woolworths revealed growth in food comparable sales of 4.9 per cent for the first quarter, easily eclipsing Coles which, in the previous week, had recorded same store sales growth of just 0.3 per cent. The first quarter sales growth for Woolworths’ supermarkets division was the best quarterly sales performance in nearly 10 years. All businesses -supermarkets, hotels, Endeavour Drinks and Big W - grew their top line sales. Big W’s sales growth of 2.9 per cent was its first like-for-like sales growth in a number of quarters.
Tatts Group Limited (TTS):
Tatts Group shareholders will have to wait a little longer to vote on a deal with Tabcorp after the company again pushed back a meeting to finalise the takeover. The Australian-listed company (TTS) told its shareholders today that given the Australian Competition Tribunal only released the reasons for its decision to approve the deal yesterday, more time was needed to update investors on the latest information available. A vote was expected to be held next Thursday at the company’s annual general meeting but that has now been postponed until Tuesday, December 12. The tribunal outlined that it approved the deal to merge Tabcorp and Tatts because the transaction was not anti-competitive and that it tracked an industry trend of consolidation. Tabcorp and Tatts had been hoping to finalise the deal by December 14 but are now aiming to complete it by year end. The combined group is expected to have pro-forma annual revenue of about $5bn. It will have totalisator and fixed odds licences and retail wagering networks in NSW, Victoria, Queensland, South Australia, Tasmania, the ACT and the Northern Territory, offering wagering products in about 4300 retail outlets .
Telstra Corporation Ltd (TLS):
Telstra is almost half way through lighting up 577 mobile base stations across regional Australia as part of the federal government’s mobile black spot program. The telco today switched on its 250th base station. Situated along the Landsborough Highway in Queensland, it will mean better coverage along the road between Winton and Cloncurry. Telstra is rolling out 110 base stations in Queensland. Its boss, Andrew Penn, said the telco is committed to rolling out mobile infrastructure in regional Australia. Telstra’s participation in two rounds of the black spot program has so far seen it roll out new mobile coverage to more than 130,000 square kilometres. With the mobile roaming issue now largely taken off the table, Telstra is making the most of the federally-assisted program to accelerate the reach of its network. Coverage, for the time being, remains an advantage for Telstra and the key reason for its fierce opposition to Vodafone Hutchison Australia’s push to get regulated access to roam on its network.
South32 Ltd (S32):
Diversified miner South32 has again issued a warning about costs, saying it expects raw material input prices to rise across the industry. chief executive Graham Kerr told the company's annual general meeting in Perth that they will not be immune to additional cost inflation if these external pressures persist across the remainder of the year". South32 will seek more exposure to base metals through exploration partnerships. The company's shares rose 1.8 per cent to $3.38 at 2.05pm on 23rd Nov. Last month, South32 warned that creeping external pressures such as the weaker US dollar could push the miner's costs higher than its full-year guidance.
Primary Health Care Limited (PRY):
Primary Health Care has warned its investors to expect further challenges with its medical centres division as GP recruitment fails to hit the level needed to improve margins. Chief executive Malcolm Parmenter told investors at today’s annual meeting in Sydney that the medical centres division was suffering from a margin decline as the company moved through the accounting and commercial impacts of transitioning GPs onto new contracts. Shares in Primary were off 3.3 per cent at $3.44 following his speech.
（Source: AIMS）
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