Record profits; Petrol spikes to over $1.60/litre
Record profits; Petrol spikes to over $1.60/litre Petrol Prices; Used vehicle market; Business Indicators Fuel prices: Last week the national average price of unleaded petrol rose by 1.7 cents a litre to 132.8 cents per litre (c/l) according to the Australian Institute of Petroleum. Pump prices have spiked to over $1.60 a litre as discounting…
Why extra super payments will come from you
There’s something odd about those television and internet advertisements telling us we are getting more super. The money seems to come from nowhere. “Pretty soon,” explains the woman getting onto an escalator, “the amount of super paid on top of our wages will go up”. Fair enough, but the increases in compulsory super contributions will…
Investing in realigned companies
In an interview with the Australian Financial Review, Vince Pezzullo, Deputy Head of Equities, praised businesses like Qantas, Flight Centre and Boral for their willingness to reinvent themselves in response to the global pandemic. COVID and associated market disruption rocked global markets in March last year but the rebound was just as sudden. Those who…
Weakest annual growth in business loans in 9 years.
Private Sector Credit; COVID-19 business survey Lending: Private sector credit (effectively outstanding loans) rose by 0.2 per cent in January (consensus: +0.3 per cent) to be up 1.7 per cent over the year. Business credit fell by 0.1 per cent to be up 0.5 per cent over the year – the weakest annual growth rate…
Harvey Norman H1 earnings up 116 per cent
SYDNEY, AAP – Harvey Norman continues to enjoy soaring sales through the pandemic after posting a 116 per cent rise in first-half earnings. The furniture, electrical and whitegoods retailer on Friday reported first-half sales climbed 25 per cent and contributed to a net profit after tax of $462.03 million. Consumers have spent plenty of money…
Emissions rise as virus restrictions ease
CANBERRA, AAP – Australia’s emissions rose slightly last quarter, driven by a transport rebound as coronavirus restrictions eased across the country. The government’s latest emissions data covering the September quarter reveal a 1.7 per cent increase compared to the previous period. Emissions decreased by 4.4 per cent in the year to September, largely thanks to…
Stockland enjoys bumper land sales
MELBOURNE, AAP – Listed property giant Stockland is capitalising on increased confidence in the east coast housing market, inking thousands of residential sales and increasing its half-year dividend. The company reported a statutory profit of $350 million for the half year to December and will pay shareholders 11.3 cents per share. Its residential development division…
Qantas suffers $1 billion loss in pandemic
CANBERRA, AAP – Australia’s flagship airline Qantas suffered a billion dollar-plus loss in profits in the first half of its trading year, dogged by both domestic and international travel restrictions due to the coronavirus pandemic. The airline endured an underlying loss before tax of $1.03 billion and a $6.9 billion drop in revenue, noting the…
Criminal charges laid against Allianz and AWP
Allianz Australia Insurance Limited (Allianz) has been charged with seven counts, and AWP Australia Pty Ltd (AWP) with one count, of making false or misleading statements regarding the sale of Allianz domestic and international travel insurance products. ASIC alleges that between 2016 and 2018, Allianz and AWP published information online, including on Allianz’s domestic, basic…
Oil Search suffers loss, improves safety
CANBERRA, AAP – Shares in Australian share-listed Oil Search, which operates all of Papua New Guinea’s oilfields, has jumped over seven per cent despite posting a huge loss in 2020. Releasing its annual results on Tuesday, Oil Search said it suffered a $US320.7 million ($A405.3 million) loss for the full 2020 year. This was a…
