Stockland posted strong results for the 2016 financial year with underlying profit increasing by 8.5% to $660 million. This was largely driven by strong conditions for growth in the Melbourne and Sydney residential property market which led to a 38% increase in operating profit for the residential property segment. Furthermore, Stockland’s commercial property segment, which accounts for 71% of the total [...]
Crown reported a normalised EBITDA of $855 million (up 3.7% on 2015) in a year which produced a significant amount of volatility. Proceeds from the partial sale of their stake in Melco Crown Entertainment Limited (MCE) joint venture made the result look better than it really was but revenue and margins from the Australian Resorts segment (Casinos) were broadly in line with [...]
Challenger Limited (CGF) reported a Net Statutory Profit After Tax (NPAT) of $328 million (up 9.6% on 2016). This was largely due to contributions from the group’s Life segment which generated $500 million in earnings, a 9.4% increase. On the other hand, the overall NPAT growth was held back by poor performance from the Funds Management segment as its earnings [...]
Mirvac reported positive results for the 2016 financial year as operating EBIT increased by 7% to $640 million. The greatest contributor to operating EBIT is the group’s assets in the Office & Industrial segment as it makes up 56% of the Group’s EBIT. Mirvac’s portfolio in this segment has a 93% exposure to prime grade assets with 81% of the [...]
On the 16th of August 2016 Australian and New Zealand Banking Corporation (ANZ) announced a new transaction, ANZ Capital Notes 4 (Prospective ASX Code: ANZPG). The purpose of this transaction is to provide Regulatory Capital for the group but more specifically it will be treated as additional Tier 1 capital for regulatory purposes. The indicative size of the offer is [...]
On 15th August 2016 National Australia Bank (NAB) provided markets with an unaudited third quarter 2016 financial year (3Q16) update. Earnings – Cash earnings were ~$1.6 billion, ~3% lower than the quarterly average of 1H16, and ~3% lower than the prior corresponding period. Unaudited statutory net profit after tax was also ~$1.6 billion, although compositionally different to cash earnings. [...]
Rail Freight Operator Aurizon posted an 88% drop in its Net Profit After Tax (NPAT) falling to $72 million for year ended 30 June 2016. The financial result was mainly impacted by impairments ($528 million) associated with the company’s investment in Aquila Resources and the West Pilbara Iron Ore Project. Reduction in volumes also weighed on the group as it witnessed [...]
Telstra provided stable results for the year ended 30 June 2016 which were slightly ahead of guidance. Excluding discontinued operations (divestment of the Autohome Group), revenue increased by 1.5% while EBITDA slipped modestly by 0.6%. The Retail segment continues to be the primary contributor to earnings (61% of income) but EBITDA dipped by 3.9%. The decline was driven by [...]
Goodman posted strong results for the year ended 30 June 2016. Operating profit increased by 9% which was driven primarily by the group's development and management business units (EBIT up 33% and 43% respectively). These solid set of results reflect the global diversification of the group’s portfolio (59% of operating earnings derived outside Australia) consisting primarily of high quality industrial [...]
AGL Energy released positive results as underlying EBITDA and profit have increased by 12% and 11% respectively. This is largely due to management’s focus away from poor performing natural gas assets and more toward retail electricity generation & distribution. As a result, AGL Energy is positioned strongly in the current energy environment relative to its competitors such as Origin Energy. [...]
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An employee-owned financial services provider focused on the Debt Capital Markets.
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