Fairfax plan to reignite fortunes
Fairfax Media unveiled a three-year plan to improve the company’s fortunes after reporting a 41 per cent plunge in interim net profit to $96.7 million after restructuring and impairment charges.
IAG profit $271m as margins slide
Updated | Insurance Australia Group has posted a first-half insurance profit of $271 million and reported a sharp fall in its margins because of the high costs from natural disasters.
Origin 61pc profit surge beats forecast
Origin Energy beat forecasts with a 61 per cent surge in first-half profit to $489 million boosted by its $3.25 billion acquisition of NSW power assets last year and lower spending.
Virgin net profit doubles, restructure announced
Updated | Virgin Australia announced first-half net profit that more than doubled on a push into the domestic corporate market as the company proposed a split of its international and domestic airline units.
David Jones sales slip, guidance reaffirmed
David Jones has reaffirmed its guidance for a 15 to 20 per cent decline in first-half net profit despite releasing better than expected sales for the second quarter.
Brazil eyes move on Australian iron ore
Exclusive | Brazilian miner Vale is examining investment in iron ore assets in Western Australia to help overcome the disadvantage of the distance between Brazil and China relative to Australia and China.
Restructuring charges push APN into red
APN News and Media swung to a full-year loss of $45 million after an impairment charge of $159 million associated with restructuring and other charges.
Perpetual first-half net plunges 34pc
Financial services group Perpetual said its first-half net profit fell 34 per cent to $22.931 million on restructuring costs and as it fights an uncertain economic outlook.
Toll to diversify to boost earnings
Logistics group Toll has warned of aggressive competition in its domestic business and said it would diversify away from fashion apparel to boost earnings as it reported a 3.7 per cent drop in net profit to $158 million.
Charter Hall posts 58pc half-year net profit drop
Property owner and funds manager Charter Hall Group is aiming to deliver another increase in operating earnings for the full year, but net profit fell 58 per cent for the half year.
Chanticleer | Virgin profits top Qantas
Virgin Australia is a bit like the Liberal Party at the moment. It sits back smugly as its main rival hogs the negative headlines.
Consumers keen to buy premium
Some of Australia’s biggest blue-chip brands are seeing signs of life in consumer confidence and are tentatively formulating more aggressive plans to gain market share.
Interim results calendar
Stay up to date with The Australian Financial Review’s 2012 interim results calendar.
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Local market indices
| ALL ORDINARIES | 4,351.7 | - 20.4 | - 0.47% |
| METALS & MINING | 4,095.7 | - 32.1 | - 0.78% |
| ENERGY | 14,497.2 | + 55.9 | + 0.39% |
| INDUSTRIALS | 3,707.9 | - 5.9 | - 0.16% |
| UTILITIES | 4,601.2 | - 48.5 | - 1.04% |
| A-REIT | 809.7 | - 3.5 | - 0.43% |
| TELECOMMS | 1,121.5 | - 9.8 | - 0.87% |
| INFO TECH | 508.0 | - 4.0 | - 0.78% |
| CONSUMER DISC | 1,261.8 | - 2.1 | - 0.17% |
| FINANCIALS | 3,993.0 | - 29.9 | - 0.74% |
| MATERIALS | 11,490.4 | - 84.9 | - 0.73% |
| S&P/ASX 200 RES | 4,848.8 | - 24.0 | - 0.49% |
| HEALTH CARE | 8,079.7 | + 21.9 | + 0.27% |
Coleman vague on exploration plans
In his heads-down, low-key way, Peter Coleman seems to be paving the way for some potentially significant changes at Woodside.
No free kicks in a tough market
A couple of things are clear from Ten Network Holdings earnings downgrade and Seven West Media’s interim profit.
Fizz goes out of Coca-Cola’s result
Terry Davis was over-egging the omelet when he said the bottler’s 2011 result was one of the best.
Why the internet of things is the next big thing
The ‘Internet of Things’ is probably the most apt description for the seismic shift blurring the lines between worlds.
OneSteel mulls what’s in a name
Geoff Plummer’s is an executive life invested on either side of Australia’s economic paradox. Plummer, you see, runs OneSteel.
Resources Daily
Brazil eyes move on Australian iron ore
Exclusive | Brazilian miner Vale is examining investment in iron ore assets in Western Australia to help overcome the disadvantage of the distance between Brazil and China relative to Australia and China.
- Origin 61pc profit surge beats forecast
- Iluka posts $541.8m profit
- BHP puts TEMCO on care and maintenance
- Lynas fights delay to Malaysia rare earths licence
- Ausdrill profits from positive resources outlook
- Feeling at home in a sweet spot
- Our future’s on the line: mining towns
- Toll to diversify to boost earnings
Boom’s glory days drawing to a close
Australia’s resources boom is beginning to fade and most analysts expect the iron ore price to halve over the next three years.
Financial Services
Perpetual first-half net plunges 34pc
Financial services group Perpetual said its first-half net profit fell 34 per cent to $22.931 million on restructuring costs and as it fights an uncertain economic outlook.
IAG profit $271m as margins slide
Updated | Insurance Australia Group has posted a first-half insurance profit of $271 million and reported a sharp fall in its margins because of the high costs from natural disasters.
DIYSuper
Advice fight heats up
The government is expected to make an announcement this month on the level of financial advice accountants can give clients.
What happens to super contributions when you’re over 65?
Is it true the rule that allows you to make three years worth of non-concessional super contributions in a single year does not apply after the age of 65?
Marketing & Media
Fairfax plan to reignite fortunes
Fairfax Media unveiled a three-year plan to improve the company’s fortunes after reporting a 41 per cent plunge in interim net profit to $96.7 million after restructuring and impairment charges.
- Restructuring charges push APN into red
- Why the internet of things is the next big thing
- Shares tumble as Ten flags earnings fall
- Leckie hopeful on ad outlook
- Hacking suspect pleads guilty to conspiracy
- Remember Lachlan? Rupert does
- News Corp must act, top US investor warns
- Expansive role for McLennan
- Nine talks debt restructure with lender
No free kicks in a tough market
A couple of things are clear from Ten Network Holdings earnings downgrade and Seven West Media’s interim profit.
Companies
Perpetual first-half net plunges 34pc
Financial services group Perpetual said its first-half net profit fell 34 per cent to $22.931 million on restructuring costs and as it fights an uncertain economic outlook.
David Jones sales slip, guidance reaffirmed
David Jones has reaffirmed its guidance for a 15 to 20 per cent decline in first-half net profit despite releasing better than expected sales for the second quarter.
Enterprise
Franchises buy up the supply chain
Established franchise businesses whose growth has slowed are looking at their options, including buying up suppliers.
Allied health to suffer
Health professionals running small businesses fear the impact of means testing health insurance.
