Energy
Oil Search (OSH) Favourable Pricing Drives Strong Final Quarter 25/01/2012 17:43
Fourth quarter production rose 8% to 1.6mmboe, mildly shy of expectations. The increase follows a 3Q11 impacted by a two...
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Fourth quarter production rose 8% to 1.6mmboe, mildly shy of expectations. The increase follows a 3Q11 impacted by a two week shutdown. Revenue jumped 26% to US$202m, well ahead of expectations on high oil and gas prices and volumes.
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AWE Limited (AWE) North West Natuna and Anambas PSC Purchases 25/01/2012 10:44
AWE has acquired 100% stakes in two offshore Indonesian Production Sharing Contracts (PSCs) including 76mmbl in recoverable oil from the...
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AWE has acquired 100% stakes in two offshore Indonesian Production Sharing Contracts (PSCs) including 76mmbl in recoverable oil from the Ande Ande Lumut (AAL) field. AWE's AAL share is 43mmbls equivalent to its net production interest under the terms of the PSC. The purchase price for the PSCs in the Natuna Sea is US$139m comprising assumption of US$100m in debt and payment of US$39m cash.
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more Energy reports Materials
Materials Resource Majors: a comparison 27/01/2012 18:37
In the last week we have written up December quarter production results for BHP, RIO, STO and WPL. But with...
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In the last week we have written up December quarter production results for BHP, RIO, STO and WPL. But with quarterly reports it's often easy to miss the forest for the trees. In response to this we include 10 year histories of revenue per diluted share broken down into commodity category. We match BHP with RIO, and WPL with STO, to put some perspective on production performances. Calendar year 2002 US$ revenue is indexed to 100 for ease of comparison.
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Mount Gibson Iron (MGX) Initial Impressions: 2Q12 production 25/01/2012 17:31
Shipments from Koolan Island declined from 873,000t to 727,000t primarily due to timing of shipments. The sea wall at Koolan...
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Shipments from Koolan Island declined from 873,000t to 727,000t primarily due to timing of shipments. The sea wall at Koolan Island is complete and first high grade ore is mined from the main pit. MGX says skilled labour shortages are affecting the company. The first shipment of iron ore from Extension Hill was made with 121,000t of lump iron ore shipped in the quarter. Tallering Peak performance was poor affected by skilled labour shortages and difficult mining conditions. Ore shipments declined 53% to 357,000t due to a 21% reduction in mined ore to 546,000t and a delayed shipment rolling to 3Q12.
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Alesco (ALS) Near term outlook ain't pretty 25/01/2012 17:23
Inline with guidance 1H12 NPAT fell 39.7% to $7.2m. Given the difficult trading conditions and significant operating leverage, the result...
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Inline with guidance 1H12 NPAT fell 39.7% to $7.2m. Given the difficult trading conditions and significant operating leverage, the result was never going to be pretty. In August ALS guided towards sales revenue declining 6% and NPAT to be down 26-39%. EBIT tumbled 40% to $15.3m, impacted by a $4.7m loss from Parbury and redundancy costs of $1.2m. While the result is within expectations, guidance for FY12 NPAT to fall 30-35% to between $9.95m-$10.7m is well below our expectations.
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Monadelphous (MND) Earnings upgrade 25/01/2012 11:48
At the November AGM, MND provided earnings guidance of at least 15% revenue growth with profit margins maintained. MND’s upgraded...
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At the November AGM, MND provided earnings guidance of at least 15% revenue growth with profit margins maintained. MND’s upgraded forecasts are for first half revenue growth of 24% and NPAT growth of between 21% and 27%. The company expects second half sales revenue to similar to the first half.
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more Industrials reports Consumer Discretionary
GUD Holdings (GUD) 1H12 hurt by weak consumer sentiment 24/01/2012 17:31
1H12 adjusted NPAT fell 13% on sales growth of 4%. The result was a little below our expectations reflecting tough...
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1H12 adjusted NPAT fell 13% on sales growth of 4%. The result was a little below our expectations reflecting tough retail conditions, weak demand for water products and low levels of major project activity for Dexion. Automotive put in a solid performance in a tough environment with EBIT up 4%. The interim dividend is up 1c to 30 cents per share fully franked.
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Flight Centre (FLT) Aussies snub a holiday down-under 24/01/2012 16:01
Numbers from The Bureau of Infrastructure, Transport and Regional Economics (BITRE) show ongoing growth in outbound passenger numbers so far...
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Numbers from The Bureau of Infrastructure, Transport and Regional Economics (BITRE) show ongoing growth in outbound passenger numbers so far in FY12. An ideal situation for FLT. Higher margin international flights and packages are more likely to require a travel agent compared to a straight forward domestic trip. The busy December period is crucial, and numbers from Sydney Airport - international passengers up 2.2% - is positive.
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Health Care
Health Care Healthcare set to report another strong consistent half 27/01/2012 16:16
With the 2011/12 interim reporting season approaching we look at the domestic healthcare stocks and what we expect individual companies...
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With the 2011/12 interim reporting season approaching we look at the domestic healthcare stocks and what we expect individual companies to report.
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Acrux Limited (ACR) Eli Lilly CEO comments on Axiron 25/01/2012 11:34
At a JP Morgan healthcare conference in San Francisco, the Chairman and CEO of Eli Lilly John Lechleiter, commented: ‘We’ve...
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At a JP Morgan healthcare conference in San Francisco, the Chairman and CEO of Eli Lilly John Lechleiter, commented: ‘We’ve been pleased with the uptake of Axiron since it was launched last spring. The most recent IMS data show we’ve achieved 10% share of market in total prescriptions and that over one in five new patient starts are going to Axiron.’ These are promising statistics and the fact Lechleiter mentioned them at the conference indicates the potential significance of the product to Lilly and so the likely prioritisation of the product by Lilly.
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more Health Care reports Financials
Commonwealth Bank (CBA) CBA vs NAB: Strong outlook but with different risk profiles 24/01/2012 17:57
Both CBA and NAB offer attractive upside, but the risk profiles of the two major Australian banks differ. The retail-focused...
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Both CBA and NAB offer attractive upside, but the risk profiles of the two major Australian banks differ. The retail-focused CBA is the most profitable of the four majors, with a sector-leading ROE of 19.5%, and benefits from the highest market capitalisation at $79bn. But CBA is also the most expensive on a PE and dividend yield basis, and we still argue this stock suits more conservative investors. Potential returns from Australia’s largest consumer bank are lower, but the lower risk profile and more stable dividends provide comfort in these uncertain times.
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National Australia Bank (NAB) CBA versus NAB: Strong outlook, but different risk profiles 24/01/2012 17:52
Both CBA and NAB offer attractive upside, but the risk profiles of the two major Australian banks differ. The retail-focused...
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Both CBA and NAB offer attractive upside, but the risk profiles of the two major Australian banks differ. The retail-focused CBA is the most profitable of the four majors, with a sector-leading ROE of 19.5%, and benefits from the highest market capitalisation at $79bn. But CBA is also the most expensive on a PE and dividend yield basis, and we still argue this stock suits more conservative investors. Potential returns from Australia’s largest consumer bank are lower, but the lower risk profile and more stable dividends provide comfort in these uncertain times.
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