Posts Tagged ‘ASX company news’

Telstra faces $40m fine

Tuesday, May 25th, 2010

Telstra will have to pay a $40 million fee, if the Australian Competition and Consumer Commission has its way.

The consumer watchdog wants the telco to pay $1 million for each instance of its refusing to give a competitor access to Telstra-controlled telephone exchanges. Telstra is arguing the refusals were mistakes made by junior staff.

The ACCC and Telstra are currently battling it out in the Federal Court.

Telstra Share Price

Telstra Share Price

Telstra
ASX – TLS

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The Age: “Watchdog pushes for $40m penalty for Telstra”

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Macarthur Coal in trading halt

Wednesday, March 31st, 2010

Trading in Macarthur Coal has been suspended at the request of the company, which has been approached by a third party regarding a possible takeover.

The halt will last until April 6, or until an announcement is made to the market.

Yesterday Macarthur, (the world’s largest producer of low volatile pulverized injection coal for steel making) confirmed its full year sales forecast, which was unaffected despite fears of the potential impact Cyclone Ului threatened on its Dalrymple Bay shipments.

Macarthur Coal Share Price Chart

Macarthur Coal
ASX Code: MCC

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Profit plunge for Myer, but then again…

Thursday, March 11th, 2010

The cost of floating on the ASX has resulted in Myer posted a depressing 74.4% decline in first-half profit.

Profit for the period fell from $83.2 million to $21.3 million. On the other hand, if the IPO expenses are taken out, Myer actually increased profit by 38% and increased revenue by $1.8 billion. Not bad going.

Myer Share Price

Myer Holdings
ASX Code: MYR

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Better than expected earnings for Macarthur Coal

Friday, January 15th, 2010

Macarthur Coal has upgraded its first half earnings guidance and full year sales forecasts, following healthy sales in 2009.

First half profit is now pegged at between $37 million and $42 million, up from a forecast of between $30 million and $38 million.

Sales for the December 2009 quarter were the second highest in the company’s history, with production also helped along by favourable weather and faster cargo loading.

Forecasts for the second half of this year expect sales will be lower than in the first half.

Macarthur Coal
ASX Code: MCC

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The Age: “Strong sales drive Macarthur guidance higher”

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A wonderful year for GrainCorp

Thursday, November 26th, 2009

The year has been kind to GrainCorp, recovering from a $20 million loss last year to a return a full-year net profit of $63.2 million for the year ending September 30.

GrainCorp’s managing director referred to this as a “wonderful year for GrainCorp”, and shareholders receiving the fully franked dividend of 7.2c per share would probably agree.

Results from the merchandise operation were less impressive, with an EBIT loss of $23 million.

For the 09/10 year, the company expects lower port-related earnings. Strategically, half of GrainCorp’s future earnings will come from barley and wheat value adding through the newly acquired GrainCorp Malt business (formerly United Malt Holdings).

GrainCorp
ASX Code: GNC

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