Argo Investments Limited (ARG):
Argo Investments’ first-half profit has risen 6.2 per cent to $110.5 million, driven by improved dividends from its BHP Billiton and Rio Tinto holdings. The company’s revenue also rose in the six months to December 31, up four per cent to $118.9m, while earnings per share grew 4.6 per cent to 15.9 cents. Argo said it will pay a fully franked interim dividend of 15.5 cents per share, up from 15 cents a year ago.
AWE Limited (AWE):
Mitsui & Co has moved to pole position in the pursuit of oil-and-gas producer AWE after rival suitor Mineral Resources opted against lifting its bid and AWE’s board rejected an offer from state-owned China Energy Reserve & Chemicals Group Co. Having secured the unanimous support of AWE’s board, the Japanese company said Monday it would push ahead with a takeover offer that values AWE at $602 million.
Downer EDI Limited (DOW):
Engineering and contracting group Downer EDI has announced it expects to report an impairment charge on its mining business in its first-half results, saying returns in the mining business have reduced significantly due to the non-renewal of two contracts. The company (DOW) said it expects to report a pre-tax charge of $77 million for the six months to 31 December. Downer said that the impairment is non-cash and non-recurring and that it will not impact the company’s cash flow or existing operations. There is no change to Downer’s underlying guidance for the 2018 fiscal year, the company said in a statement to the ASX.
Fairfax Media Limited (FXJ):
Fairfax Media says it will appeal a decision by the New Zealand competition watchdog to block a merger between its subsidiary NZME and Stuff Ltd. Fairfax contends the NZCC’s estimation of fiscal public benefit from the deal is conservative, and that it over-estimates the potential loss of media pluarity arising from the deal.
Mcgrath Limited (MEA):
Shares in listed real estate group McGrath may come under pressure this morning in the wake of weekend media reports that company founder John McGrath was alleged to have incurred a $16.2 million gambling debt. McGrath, who is slated to become executive chairman of the estate agency after the remainder of his board flagged their departures last month, has slammed the reports as “ridiculous”. The veteran Sydney agent said in a Saturday email to staff that the coverage was “clearly designed to damage me”. McGrath shares have already come under pressure this year due to the poor trading of the real estate firm’s company-owned offices. Mr. McGrath and another major shareholder, Shane Smollen, have recently rebuffed suggestions that they are planning to return the embattled company to private hands.
Macquarie Group Limited (MQG):
Macquarie Group is expected to deliver an upgrade to its full-year profit outlook tomorrow, but investors are keenly watching the bank’s commitment to its $1 billion share buyback. The Australian investment bank promised at its interim results in October it would set aside its largest amount ever to spend on buying back its own stock. Chief executive Nicholas Moore will inform investors and analysts tomorrow at the bank’s annual operational update, where it will unveil its outlook for the year ahead. For the first time, the briefing has been divided into themes — energy, infrastructure and technology — and the bank’s business leaders will address those topics specifically. Analysts say the selection of the three topics shows the bank’s priorities for 2018.
National Australia Bank Limited (NAB):
Lee Hatton, the chief executive of National Australia Bank’s online bank UBank, is spending a lot of time talking to fintechs these days. “We meet with fintechs most weeks here to talk about how to grow their businesses and what they could do differently,” she says. Hatton is looking for ways for UBank to work with fintechs and other companies to expand services available to its 400,000 digitally savvy customers. In the new-look, low-cost, online only financial world, Hatton sees growth by partnerships with outside groups, from fintechs to big companies such as IBM and Microsoft and universities, as a critical way forward for her bank, which turns 10 years old in October. She says this year could see UBank announce a number of new deals with fintechs offering services to its customers. Potential new partnerships could involve outside companies offering their own products to UBank customers, such as foreign exchange services or credit cards. UBank does not reveal figures on its deposits or home loans, but market sources say the bank now ranks among the top 10 of Australian banks in terms of size, with one media report estimating that it had almost $16 billion in deposits by 2015 with some $3.6bn in home loans.
Nine Entertainment Co. Holdings Limited (NEC):
Television advertising revenue for the free-to-air metropolitan market grew significantly in December, with Nine Entertainment taking out top spot for the first time in more than a decade. For the past 13 years Seven West Media has been in the lead for advertising revenues. Now, the top spot has been taken by Nine in the latest KPMG revenue figures with the most revenue share in the December half and 2017 calendar year. It remains a tight race between the top two networks. Nine's share of the market for 2017 increased to 38.3 per cent, while Seven and Ten Network had 37.9 per cent and 23.8 per cent respectively. In the six months to December, Nine increased its lead to 40 per cent of the market. The last time Nine had the most market share was 2005.
QMS Media Limited (QMS):
The $320 million billboard owner QMS Media is believed to be on the radar of suitors, with suggestions that two parties have been conducting due diligence on the company. One of the parties is said to be based in Asia, leaving some to question whether the Thai company Plan B Media could be looking. It comes after an executive team restructure announced on January 23, where divisional leaders were appointed to its Australian and New Zealand businesses. QMS’s boss is rumoured to be in Europe meeting a Chinese media company hoping to invest in its global sports business expansion. Many believe QMS has been open to a sale for some time, but sources close to the company say it has not received any approaches. Attempts to merge by the listed ooh! Media and APN Outdoor last year, which never got off the ground because of competition issues, have left some wondering whether one of the two larger players could be looking. There were rumours last year that HT&E may have been running the ruler over QMS, with the help of Credit Suisse.
Telstra Corporation Limited (TLS):
Telstra says it plans to offer 5G in 2019 and will show off its developments this week, as it looks to assert dominance over Optus in the battle for the next-generation mobile market. NBN Co, meanwhile, dismissed the threat of next-generation mobile to its business model, after Optus surprised many in the local telecommunications market by rushing out an announcement last Friday, saying it would begin deploying 5G fixed-wireless internet to metropolitan areas in 2019. Optus' announcement was seen by some, spoken to by The Australian Financial Review, as a "spoiler" for a media gathering Telstra has arranged on the Gold Coast on Wednesday, where it is expected to give more concrete details of its 5G strategy. Telstra will run extensive 5G trials on the Gold Coast during the Commonwealth Games in April, and the company's group managing director of networks, Mike Wright, told the Financial Review it expected to be offering 5G services next year.
Westpac Banking Corporation (WBC):
Westpac Banking Corp said on Monday its level of stressed assets fell slightly in the three months to Dec. 31. Australia's second-biggest bank by market value said stressed assets slipped about 2 basis points to 1.03 percent in the first quarter of its financial year, which began on Oct. 1. Westpac's common equity Tier-1 capital ratio was 10.1 percent at end-December, a decline from the 10.6 percent reported at Sept. 30, 2017. The bank said that it will seek to operate with a common equity Tier-1 ratio of at least 10.5 percent in March and September under the Australian Prudential Regulatory Authority's existing capital framework. Australian mortgage delinquencies, in aggregate, were largely unchanged for the quarter at 0.67 percent, the bank said in a statement. Westpac did not disclose profit or revenue numbers in its limited first-quarter update. In November, Westpac's annual cash profit missed estimates, while full-year net interest margin slipped.
Wesfarmers Limited (WES):
New Wesfarmers chief executive Rob Scott is clearing the books by writing down the loss-making Bunnings UK and Ireland business (BUKI) and struggling discount department store chain Target by $1.26 billion. Mr. Scott, who took the helm in November, has launched a review of BUKI, which is forecast to lose $165 million in the December half year. Mr. Scott also announced that long-serving Bunnings executive Peter (PJ) Davis, who is currently managing director of BUKI, would retire. Mr Davis, a co-architect of Bunnings' expansion into the UK and Ireland, took a three-month break in December.
(Source: AIMS)
Argo Investments’ first-half profit has risen 6.2 per cent to $110.5 million, driven by improved dividends from its BHP Billiton and Rio Tinto holdings. The company’s revenue also rose in the six months to December 31, up four per cent to $118.9m, while earnings per share grew 4.6 per cent to 15.9 cents. Argo said it will pay a fully franked interim dividend of 15.5 cents per share, up from 15 cents a year ago.
AWE Limited (AWE):
Mitsui & Co has moved to pole position in the pursuit of oil-and-gas producer AWE after rival suitor Mineral Resources opted against lifting its bid and AWE’s board rejected an offer from state-owned China Energy Reserve & Chemicals Group Co. Having secured the unanimous support of AWE’s board, the Japanese company said Monday it would push ahead with a takeover offer that values AWE at $602 million.
Downer EDI Limited (DOW):
Engineering and contracting group Downer EDI has announced it expects to report an impairment charge on its mining business in its first-half results, saying returns in the mining business have reduced significantly due to the non-renewal of two contracts. The company (DOW) said it expects to report a pre-tax charge of $77 million for the six months to 31 December. Downer said that the impairment is non-cash and non-recurring and that it will not impact the company’s cash flow or existing operations. There is no change to Downer’s underlying guidance for the 2018 fiscal year, the company said in a statement to the ASX.
Fairfax Media Limited (FXJ):
Fairfax Media says it will appeal a decision by the New Zealand competition watchdog to block a merger between its subsidiary NZME and Stuff Ltd. Fairfax contends the NZCC’s estimation of fiscal public benefit from the deal is conservative, and that it over-estimates the potential loss of media pluarity arising from the deal.
Mcgrath Limited (MEA):
Shares in listed real estate group McGrath may come under pressure this morning in the wake of weekend media reports that company founder John McGrath was alleged to have incurred a $16.2 million gambling debt. McGrath, who is slated to become executive chairman of the estate agency after the remainder of his board flagged their departures last month, has slammed the reports as “ridiculous”. The veteran Sydney agent said in a Saturday email to staff that the coverage was “clearly designed to damage me”. McGrath shares have already come under pressure this year due to the poor trading of the real estate firm’s company-owned offices. Mr. McGrath and another major shareholder, Shane Smollen, have recently rebuffed suggestions that they are planning to return the embattled company to private hands.
Macquarie Group Limited (MQG):
Macquarie Group is expected to deliver an upgrade to its full-year profit outlook tomorrow, but investors are keenly watching the bank’s commitment to its $1 billion share buyback. The Australian investment bank promised at its interim results in October it would set aside its largest amount ever to spend on buying back its own stock. Chief executive Nicholas Moore will inform investors and analysts tomorrow at the bank’s annual operational update, where it will unveil its outlook for the year ahead. For the first time, the briefing has been divided into themes — energy, infrastructure and technology — and the bank’s business leaders will address those topics specifically. Analysts say the selection of the three topics shows the bank’s priorities for 2018.
National Australia Bank Limited (NAB):
Lee Hatton, the chief executive of National Australia Bank’s online bank UBank, is spending a lot of time talking to fintechs these days. “We meet with fintechs most weeks here to talk about how to grow their businesses and what they could do differently,” she says. Hatton is looking for ways for UBank to work with fintechs and other companies to expand services available to its 400,000 digitally savvy customers. In the new-look, low-cost, online only financial world, Hatton sees growth by partnerships with outside groups, from fintechs to big companies such as IBM and Microsoft and universities, as a critical way forward for her bank, which turns 10 years old in October. She says this year could see UBank announce a number of new deals with fintechs offering services to its customers. Potential new partnerships could involve outside companies offering their own products to UBank customers, such as foreign exchange services or credit cards. UBank does not reveal figures on its deposits or home loans, but market sources say the bank now ranks among the top 10 of Australian banks in terms of size, with one media report estimating that it had almost $16 billion in deposits by 2015 with some $3.6bn in home loans.
Nine Entertainment Co. Holdings Limited (NEC):
Television advertising revenue for the free-to-air metropolitan market grew significantly in December, with Nine Entertainment taking out top spot for the first time in more than a decade. For the past 13 years Seven West Media has been in the lead for advertising revenues. Now, the top spot has been taken by Nine in the latest KPMG revenue figures with the most revenue share in the December half and 2017 calendar year. It remains a tight race between the top two networks. Nine's share of the market for 2017 increased to 38.3 per cent, while Seven and Ten Network had 37.9 per cent and 23.8 per cent respectively. In the six months to December, Nine increased its lead to 40 per cent of the market. The last time Nine had the most market share was 2005.
QMS Media Limited (QMS):
The $320 million billboard owner QMS Media is believed to be on the radar of suitors, with suggestions that two parties have been conducting due diligence on the company. One of the parties is said to be based in Asia, leaving some to question whether the Thai company Plan B Media could be looking. It comes after an executive team restructure announced on January 23, where divisional leaders were appointed to its Australian and New Zealand businesses. QMS’s boss is rumoured to be in Europe meeting a Chinese media company hoping to invest in its global sports business expansion. Many believe QMS has been open to a sale for some time, but sources close to the company say it has not received any approaches. Attempts to merge by the listed ooh! Media and APN Outdoor last year, which never got off the ground because of competition issues, have left some wondering whether one of the two larger players could be looking. There were rumours last year that HT&E may have been running the ruler over QMS, with the help of Credit Suisse.
Telstra Corporation Limited (TLS):
Telstra says it plans to offer 5G in 2019 and will show off its developments this week, as it looks to assert dominance over Optus in the battle for the next-generation mobile market. NBN Co, meanwhile, dismissed the threat of next-generation mobile to its business model, after Optus surprised many in the local telecommunications market by rushing out an announcement last Friday, saying it would begin deploying 5G fixed-wireless internet to metropolitan areas in 2019. Optus' announcement was seen by some, spoken to by The Australian Financial Review, as a "spoiler" for a media gathering Telstra has arranged on the Gold Coast on Wednesday, where it is expected to give more concrete details of its 5G strategy. Telstra will run extensive 5G trials on the Gold Coast during the Commonwealth Games in April, and the company's group managing director of networks, Mike Wright, told the Financial Review it expected to be offering 5G services next year.
Westpac Banking Corporation (WBC):
Westpac Banking Corp said on Monday its level of stressed assets fell slightly in the three months to Dec. 31. Australia's second-biggest bank by market value said stressed assets slipped about 2 basis points to 1.03 percent in the first quarter of its financial year, which began on Oct. 1. Westpac's common equity Tier-1 capital ratio was 10.1 percent at end-December, a decline from the 10.6 percent reported at Sept. 30, 2017. The bank said that it will seek to operate with a common equity Tier-1 ratio of at least 10.5 percent in March and September under the Australian Prudential Regulatory Authority's existing capital framework. Australian mortgage delinquencies, in aggregate, were largely unchanged for the quarter at 0.67 percent, the bank said in a statement. Westpac did not disclose profit or revenue numbers in its limited first-quarter update. In November, Westpac's annual cash profit missed estimates, while full-year net interest margin slipped.
Wesfarmers Limited (WES):
New Wesfarmers chief executive Rob Scott is clearing the books by writing down the loss-making Bunnings UK and Ireland business (BUKI) and struggling discount department store chain Target by $1.26 billion. Mr. Scott, who took the helm in November, has launched a review of BUKI, which is forecast to lose $165 million in the December half year. Mr. Scott also announced that long-serving Bunnings executive Peter (PJ) Davis, who is currently managing director of BUKI, would retire. Mr Davis, a co-architect of Bunnings' expansion into the UK and Ireland, took a three-month break in December.
(Source: AIMS)
Latest comments