Company News & Earnings

  • Advisory: Minerals Technologies Inc. to Present at the Gabelli & Company Specialty Chemicals Conference … ACN Newswire - Fri, Mar 20, 2015 1:33 AM AEDT

    NEW YORK, March 19-Minerals Technologies Inc. (NYSE:MTX) will attend the Gabelli & Company Specialty Chemicals Conference on March 26, 2015 in New York City. Joseph C. Muscari, Chairman and Chief Executive ...

  • Minerals Technologies Appoints Alexander Masetti, Vice President & Managing Director, Paper PCC ACN Newswire - Thu, Mar 19, 2015 11:23 PM AEDT

    NEW YORK, March 19, 2015-Minerals Technologies Inc. ( NYSE: MTX ) announced today that its Board of Directors has appointed Alexander Masetti Vice President and Managing Director of its Paper PCC business ...

  • Galaxy Entertainment Group Reports 2014 Annual Results ACN Newswire - Thu, Mar 19, 2015 6:01 PM AEDT

    - Group Adjusted EBITDA up 5% Year-On-Year to $13.2 Billion - Net Profit Attributable to Shareholders Increased by 3% Year-On-Year to $10.3 Billion - Galaxy Macau(TM) Phase 2 and Broadway at Galaxy Macau ...

  • Oroton profit falls on end of discounts AAP - Thu, Mar 19, 2015 5:24 PM AEDT

    Oroton chief executive Mark Newman says he is willing to endure the short-term pain of falling sales in order to restore the luxury accessory brand's prestige. Oroton blamed the slump on its decision to cut back on the number of discount clearance sales. "The important thing for the long-term health of the brand is to focus on quality sales, not clearance sales," he said. Mr Newman said Oroton's collaboration with Disney to produce two limited edition crystal clutches for its next blockbuster movie, Cinderella, as well as the roll out of new high-end stores would reinforce the initiative.

  • We've lost our way, says Myer boss AAP - Thu, Mar 19, 2015 5:23 PM AEDT
    We've lost our way, says Myer boss

    Myer is out of touch. Mr Umbers said it showed it was time for an overhaul to win back customers. Citigroup analysts expect Myer to close at least seven department stores, while others say the retailer will have to raise capital to fund a major restructure. Mr Umbers, who ascended to the top job on March 2 after Bernie Brookes resigned, did not rule out either option but declined to give more details on the company's strategic review.

  • Myer shares tumble after profit warning AAP - Thu, Mar 19, 2015 11:39 AM AEDT

    Myer shares have slumped after the troubled retailer downgraded its full year earnings guidance and reported a 23 per cent slide in first half profit. Myer sliced its full year profit guidance to between $75 million and $80 million, well below analysts expectations of $90 million and the $98.5 million it made in 2013/14. The move came as Myer reported a profit of $62.2 million for the six months to January 24, down from $80.8 million. Investors punished the department store for the downgrade, pushing Myer shares down 10 cents, or 6.5 per cent, to $1.43 by 1044 AEDT.

  • Oroton profit falls after end of discounts AAP - Thu, Mar 19, 2015 10:27 AM AEDT

    Luxury fashion retailer Oroton's decision to end discounts in an effort to restore prestige has hit its sales and half year profit. Sales of Oroton handbags and leather goods dropped 6.5 per cent in the six months to January 24, compared to the same period a year ago. OrotonGroup shares were down 21 cents, or 7.75 per cent, at $2.50 in early trade. The Brooks Brothers business began trading in February but it cost more to set up than expected, due to an earlier-than-planned opening for its main Sydney store and delays in establishing its online site.

  • Myer cuts guidance after profit slide AAP - Thu, Mar 19, 2015 9:47 AM AEDT

    New Myer chief executive Richard Umbers says the department store group has lost relevance with customers after it suffered a 23 per cent slide in its first half profit and downgraded its full year guidance. Myer has downgraded its full year profit guidance to between $75 million and $80 million, well below analysts expectations of a $90 million profit and last year's $98.5 million result. New chief executive Richard Umbers, who ascended to the top job earlier this month after the departure of long-serving CEO Bernie Brookes, admitted Myer had lost relevance with customers.

  • Myer's first half profit slides 23pc AAP - Thu, Mar 19, 2015 9:22 AM AEDT

    Department store group Myer has suffered a 23 per cent slide in first half profit and warned of further falls amid tough competition in the retail sector. Myer made a first half profit of $62.2 million, down from $80.8 million a year ago. The company also cut its interim dividend to seven cents, fully franked, from nine cents per share a year ago. The troubled retailer says it expects its full year net profit will drop to between $75 million and $80 million, excluding one-off costs, from $98.5 million in 2013/14.

  • NZ economic growth fastest in eight years AAP - Thu, Mar 19, 2015 9:21 AM AEDT

    The New Zealand economy grew 3.3 per cent in calendar 2014, the fastest pace since 2007, before the global financial crisis. Gross domestic product expanded in the fourth quarter of 2014 as tourists drove ...

  • Myer's first half profit slides 23pct AAP - Thu, Mar 19, 2015 9:15 AM AEDT

    Department store group Myer has suffered a 23 per cent slide in first half profit and warned of further falls amid tough competition in the retail sector. Myer made a first half profit of $62.2 million, down from $80.8 million a year ago. The company also cut its interim dividend to seven cents, fully franked, from nine cents per share a year ago. The troubled retailer says it expects its full year net profit will drop to between $75 million and $80 million, excluding one-off costs, from $98.5 million in 2013/14.

  • General Mills sales drop for sixth straight quarter CNBC - Thu, Mar 19, 2015 1:29 AM AEDT
    General Mills sales drop for sixth straight quarter

    General Mills delivered quarterly earnings that topped analysts' expectations on Wednesday.

  • FedEx profit jumps on higher package volumes, yields CNBC - Thu, Mar 19, 2015 1:17 AM AEDT
    FedEx profit jumps on higher package volumes, yields

    FedEx delivered quarterly earnings that topped analysts' expectations on Wednesday.

  • Yip's Chemical Announces 2014 Annual Results; Turnover Exceeds Preset Medium-Term Target of HK$10 Bi … ACN Newswire - Wed, Mar 18, 2015 8:06 PM AEDT

    HONG KONG, Mar 18, 2015 - (ACN Newswire) - Yip's Chemical Holdings Limited ("Yip's Chemical" or the "Group") (SEHK:00408), the world's largest manufacturer of acetate solvents and one of China's largest manufacturers of petrochemical products, announced its annual results for the year ended 31 December 2014 (the "review period").

  • China SCE 2014 Contracted Sales Amount and Contracted Sales Area Increased 10% and 28% respectively ACN Newswire - Wed, Mar 18, 2015 4:06 PM AEDT

    HONG KONG, Mar 18, 2015 - (ACN Newswire) - China SCE Property Holdings Limited ("China SCE" or the "Group") (stock code: 1966), a leading developer of residential properties in Fujian Province, announced its annual results for the year ended 31 December 2014 ("the year"). Despite the real estate market in the PRC reversing its fast-growing momentum during the year, the Group and its joint ventures achieved a contracted sales amount of approximately RMB11.91 billion and a contracted sales area of approximately 1.3 million sq.m., representing a year-on-year increase of 10% and 28%, respectively. By adopting flexible marketing strategies and continued provision of well-positioned product lines, the Group and its joint ventures reported stable growth in its operating results.

  • Soft result expected from Myer AAP - Mon, Mar 16, 2015 9:00 PM AEDT
    Soft result expected from Myer

    Myer could announce a review of the number and size of its outlets and the broadening of its online business when the department store giant reports its half year earnings on Thursday. The latest earnings report will be the first delivered by Richard Umbers, who was recently parachuted into the chief executive's job after the surprise departure of Bernie Brookes. "The latest official retail sales results didn't shoot the lights out, particularly for department stores, so a soft result is expected (for Myer)," Morningstar analyst Farina Parsons said. Credit Suisse analysts say Myer should consider fast-tracking any plans to restructure the company.

  • Aust business: revenue flat, profit down AAP - Mon, Mar 16, 2015 1:36 PM AEDT

    Australian companies suffered a 26 per cent slide in profit and barely lifted sales in the second half of 2014 as nervous consumers and businesses kept their wallets firmly shut. According to research by CommSec, Australia's top 200 companies lifted revenue by just 0.2 per cent during the six months to December 31, to an aggregate $298.2 billion. CommSec chief economist Craig James said the disappointing performance was the result of subdued consumer and business sentiment. He said concerns about rising unemployment and soft economic growth meant consumers were reluctant to spend money which, in turn, made businesses less likely to invest money on growth.

  • Holcim-Lafarge merger in balance as Swiss group wants deal changed AFP - Mon, Mar 16, 2015 10:08 AM AEDT
    Holcim-Lafarge merger in balance as Swiss group wants deal changed

    Cracks appeared Monday in a deal to create the world's biggest cement company, with Swiss group Holcim seeking a modification of the merger with French giant Lafarge. The deal "can no longer be pursued in its present form", said Holcim in a statement of the merger based on the offer of one Holcim share for one Lafarge share. Holcim and Lafarge announced last year they were merging to create a cement behemoth, with an eye on booming construction in emerging markets.

  • Arab states pledge $12 bn in aid, investment to Egypt AFP - Fri, Mar 13, 2015 4:58 PM AEDT
    Arab states pledge $12 bn in aid, investment to Egypt

    Saudi Arabia, Kuwait and the United Arab Emirates pledged a combined $12 billion in aid and investment Friday to help Egypt's struggling economy. "I am happy to announce that Kuwaiti investment bodies will invest $4 billion in different economic sectors of Egypt," the Kuwaiti emir said in remarks at the inaugural session of the three-day conference.

  • Report: Snapchat Raising $200 Million From Alibaba at $15 Billion Valuation Entrepreneur - Fri, Mar 13, 2015 9:29 AM AEDT
    Report: Snapchat Raising $200 Million From Alibaba at $15 Billion Valuation

    The Chinese ecommerce giant is reportedly eyeing expansion into overseas markets as well as social networking.

  • Volkswagen says cost-cutting to start bearing fruit AFP - Thu, Mar 12, 2015 2:47 PM AEDT
    Volkswagen says cost-cutting to start bearing fruit

    German auto giant Volkswagen said Thursday it expects a massive cost-cutting programme to begin bearing fruit this year. In a bid to turn around its flagship VW brand, the carmaker has embarked on a drive to cut costs by 5.0 billion euros ($5.3 billion). The programme "has gotten off to a very good start," chief executive Martin Winterkorn told the group's annual earnings news conference. Deliveries grew by 4.2 percent last year to over 10.1 million vehicles, sales revenue increased by 2.8 percent to 202.5 billion euros and operating profit rose by 1.0 billion euros to a record 12.7 billion euros.

  • BMW speeds ahead to another record year in 2014 AFP - Thu, Mar 12, 2015 12:37 PM AEDT
    BMW speeds ahead to another record year in 2014

    BMW, the German top-of-the-range car maker, said Thursday it achieved its fifth record year in succession in 2014 on the back of buoyant demand for its vehicles. "We continued to perform well during the past year, achieving new highs for sales volume, revenues and group earnings," boasted chief executive Norbert Reithofer. BMW said it sold a total 2.118 million vehicles worldwide in 2014, 7.9 percent more than in the previous year. Underlying or operating profit grew by 14.3 percent to 9.118 billion euros, "thanks primarily to sales volume growth and a high-value model mix," BMW said.

  • Lufthansa says profits to take off again in 2015 AFP - Thu, Mar 12, 2015 8:36 AM AEDT
    Lufthansa says profits to take off again in 2015

    German airline Lufthansa said Thursday it expects to see a "tangible" improvement in its underlying earnings this year after profits nosedived in 2014. "Lufthansa expects to post a tangible improvement in its operating result, though this will continue to be saddled by fleet re-equipment project costs," the airline said in a statement. Last year, Lufthansa's profits nosedived, hit by various factors, including changes in the value of a convertible bond it had issued in 2012, and losses on its options for fuel price hedging. Strike action by its pilots also weighed on earnings.

  • Deutsche Post says e-commerce boosted profits in 2014 AFP - Wed, Mar 11, 2015 10:23 AM AEDT
    Deutsche Post says e-commerce boosted profits in 2014

    German postal and logistics giant Deutsche Post said Wednesday it met its earnings targets last year thanks to the strong performance of its international express and German parcel business and remains confident for the current year. "Despite a still challenging environment we delivered a solid performance in 2014, by building on our strong market position in e-commerce and emerging markets," said chief executive Frank Appel. Sales growth was "supported by steady volume and revenue gains in the international express and German parcel businesses in particular," the statement said. The former state monopolist has been able to make up for the decline in its traditional letter delivery business expanding its online commerce and parcel delivery.

  • Virgin Atlantic posts STG14.4m profit AAP - Tue, Mar 10, 2015 1:33 PM AEDT
    Virgin Atlantic posts STG14.4m profit

    Virgin Atlantic has reported its first profit since 2011 and the airline's founder Sir Richard Branson says he's looking forward "to the next 30 years". The carrier is reporting a pre-tax profit of STG14.4 million ($A28.25 million) for the year ending December 31, 2014, representing an improvement of STG65.4 million on the previous year's financial performance. Sir Richard has hailed staff for doing "a great job in turning around the airline". Chief executive Craig Kreeger says the results mark the conclusion of the recovery period, putting "firm foundations in place for the future".

  • Prudential logs soaring profits as boss steps down AFP - Tue, Mar 10, 2015 10:25 AM AEDT
    Prudential logs soaring profits as boss steps down

    British insurance giant Prudential, whose boss Tidjane Thiam is leaving to join Swiss bank Credit Suisse, on Tuesday posted soaring annual profits and sales. Net profits surged 65 percent to £2.216 billion ...

  • RWE says earnings hit by falling power prices AFP - Tue, Mar 10, 2015 9:09 AM AEDT
    RWE says earnings hit by falling power prices

    RWE, Germany's second-biggest power supplier, said Tuesday that its earnings were hit by falling electricity prices last year. RWE said in a statement that its recurrent net income -- from which the dividend is paid -- fell by 44.6 percent to 1.282 billion euros ($1.38 billion) in 2014. RWE said it would propose an unchanged dividend of 1.0 euro per share for 2014. The "crisis in conventional power generation continues," said chief executive Peter Terium.

  • BP announces $12 bn investment in Egypt gas fields AFP - Fri, Mar 6, 2015 11:17 AM AEDT
    BP announces $12 bn investment in Egypt gas fields

    UK-based energy giant BP on Friday announced a total investment of $12 billion (11 billion euros) in developing gas fields in Egypt, calling it a "vote of confidence" in the country. "The ...

  • Allied Irish Banks posts first annual profit since 2008 AFP - Thu, Mar 5, 2015 7:09 PM AEDT
    Allied Irish Banks posts first annual profit since 2008

    Ireland's state-rescued Allied Irish Banks posted its first annual profit since 2008 on Thursday as income jumped and an improving Irish economy allowed for the reversal of write-downs. "Over a three year period we have delivered a circa 4.8 billion euros turnaround in the group's profit before tax," outgoing chief executive David Duffy said. Operating income was up 31 percent to 2.53 billion euros from 1.924 billion euros the year before. An improving Irish economy and rising house prices allowed it to write-back 188 million euros in bad loans compared to a provision of 1.9 billion euros in 2013.

  • Gemalto full year 2014 results ACN Newswire - Thu, Mar 5, 2015 12:19 PM AEDT

    - Full year revenue of EUR 2.5 billion, up +5%, and profit from operations up +10%, at EUR 383 million - Platforms & Services revenue passed the EUR 500 million mark - Strong demand in the United States, ...

  • Target to cut thousands of jobs in restructuring CNBC - Wed, Mar 4, 2015 7:46 AM AEDT
    Target to cut thousands of jobs in restructuring

    Target's chief executive said Tuesday the company will cut several thousand jobs within the next two years as part of a $2 billion cost-savings plan.

  • Target to cut thousands of jobs over next 2 years AFP - Tue, Mar 3, 2015 11:23 PM AEDT
    Target to cut thousands of jobs over next 2 years

    US retail chain Target said Tuesday it would slash thousands of jobs as it restructures to save $2 billion over the next two years. The company made the announcement during an investors meeting, without specifying the number of jobs that will be eliminated. "The restructuring will be concentrated at Target's headquarters locations," said the Minneapolis, Minnesota-based company in a statement. Target Corp., which bills itself as an "upscale" discount retailer, has nearly 1,800 stores across the United States.

  • Company gross profits fell 0.2% in Q4 AAP - Mon, Mar 2, 2015 11:34 AM AEDT

    Company gross operating profits fell 0.2 per cent in the December quarter, worse than analyst expectations, and were down 5.9 per cent in 2014. The estimate of income from sales by manufacturers was flat ...

  • Aussies splash out at Harvey Norman AAP - Sat, Feb 28, 2015 10:22 AM AEDT
    Aussies splash out at Harvey Norman

    Australians are splurging at Harvey Norman as their houses and share portfolios increase in value. The retailer is forecasting sales growth in its homemaker products this year thanks to improved consumer confidence following a 27.4 per cent boost to half year net profit. The robust result prompted the company to lift its interim dividend to nine cents and issue a special dividend of 14 cents per share. A strong housing market in Australia, record low interest rates, major infrastructure investment in NSW and stable consumer sentiment were pointing to positive trends, chairman Gerry Harvey said.

  • PaperlinX falls to $91m half year loss AAP - Fri, Feb 27, 2015 5:10 PM AEDT

    Packaging group PaperlinX has announced an even deeper half year loss stemming from problems in Europe, a week after its chief executive was sacked and replaced. The company behind industrial packaging, fine paper and signs blamed surprisingly poor market demand and unsustainably low prices in the UK and midwestern Europe for a loss of $90.8 million in the six months to December 31. The bad news comes nine days after the company sacked and replaced chief executive Andrew Price after just over a year in the top job. Chairman Robert Kaye said its poor performance in Europe had overshadowed its healthier operations in Australia, New Zealand and Canada.