Australia Post set to lose $1.5 billion on letters
Australia Post chief Ahmed Fahour has framed the $1.5b in coming losses in its letters division as a “$3.5b turnaround”. Picture: David GeraghtyAUSTRALIA Post is back in the black, unveiling a $36 million profit a year after posting losses of $222 million.But what chief executive Ahmed Fahour has claimed as a triumph conceals the bare fact that our national carrier is still bleeding cash from its letters division.While total revenues were up 3 per cent to $6.6 billion in 2015-16 on the back of a..>> view originalStorm Financial heads breached law: court
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Prashant MehraAustralian Associated PressThe 2015/16 fiscal year will count as one of the worst for profit growth by Australian companies, so investors can't be blamed for hoping things will get a little better from here.With the August reporting season nearly wrapped, the overall trend is becoming evident: earnings for listed companies have declined by an average eight to 10 per cent on the previous year.Resources companies, weighed down by the collapse in commodities prices, accounted for much..>> view originalASX slips as profit season peaks, eyes turn to Federal Reserve
Profit season moved up a gear in its last big week as did the wild swings of the share prices of many reporting companies, however, the sharemarket ended the week stagnant in anticipation of a speech from US Federal Reserve chair Janet Yellen.The S&P/ASX 200 traded within the range of 5510 to 5570 points all week, but on Friday fell 0.5 per cent, or 26 points, to 5515.5, while the All Ordinaries ended 0.4 per cent, or 24 points, lower at 5607.4. The benchmark index closed just 0.2 per cent lowe..>> view originalMayne Pharma CEO Scott Richards backs growth over dividends
"We have relatively small businesses that are primed for growth in the world's biggest pharmaceutical market," Mayne Pharma CEO Scott Richards said. Jesse Marlow Mayne Pharma chief executive Scott Richards has a response ready for the inevitable questions he will get about when the fast-growing drug maker will pay dividends after delivering a 379 per cent lift in net profit to $37.4 million."We have relatively small businesses that are primed f..>> view original
Monday, August 29, 2016
Australia Post set to lose $1.5 billion on letters and other top stories.
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