South32
BHP spinoff South32 has cut third-quarter production at several businesses but remains on track to meet its full-year guidance across all its units.
The company improved alumina production 6.9 per cent in the three months to March 31 and lifted metallurgical coal, but energy coal production was down 15.9 per cent, nickel was down 8.5 per cent and silver was down 12.7 per cent.
Manganese alloy production was down 56 per cent, with drops also reported in manganese ore, aluminium and lead.
South32 said it is on track to meet its FY16 production guidance and reduce controllable costs by $US300 million ($A385 million).
Ten Network
The Ten Network has made a first-half profit of $13.4 million thanks to a 7.8 per cent lift in revenue and the sale of its US outdoor advertising business.
The net profit for the six months to March 29 compares to a $264.4 million loss for the prior corresponding period, with total revenue lifting to $349.6 million from $324.3 million.
Ten reported a $24.8 million gain from the sale of Eye US and said it had cut net debt to $20.2 million following the capital injection it received from Foxtel taking a stake in the business.
There was no interim dividend.
Iluka Resources
Mineral sands miner Iluka Resources has posted an 11 per cent decline in March quarter revenue due to lower zircon and ilmenite sales and falling prices.
Iluka reported revenue of $102.1 million for the three months ended March 31, down from $115.2 million a year ago as market conditions for its products remain subdued.
Production for the quarter was up 39.5 per cent at 233,200 tonnes.
Wesfarmers
Coles has lifted third quarter food and liquor sales 5.9 per cent, but owner Wesfarmers says only an early Easter prevented sales declining at its Target department stores.
Food and liquor sales for the three months to March 31 rose to $7.518 billion, from $7.097 billion for the prior corresponding period, while total Coles sales improved 3.2 per cent.
Sales at Target improved 2.3 per cent to $678 million, but Wesfarmers says that was only due to an early Easter and that adjusted comparable store sales dipped 0.8 per cent.
Brambles
Logistics firm Brambles has lifted revenue, on a constant currency basis, by eight per cent to $US4.36 billion ($A5.60 billion) for the nine months to March 2016.
The group’s actual sales revenue was flat at $US4.03 billion.
In a statement to the ASX Brambles said it expects eight to 10 per cent constant currency growth in revenue and underlying profit for the year to June 30, putting expected profit at between $US1.02 billion and $US1.04 billion.
Priceline
Priceline owner Australian Pharmaceutical Industries has lifted first-half profit 7.7 per cent to $22.9 million.
Net profit for the six months to February 29 was up on $21.3 million for the prior corresponding period, with revenue rising 4.4 per cent to $1.79 billion.
The interim dividend was up 0.5 cents to 2.5 cents per share, fully franked.
Aurizon
Rail freight operator Aurizon’s coal haulage volumes have remained flat, while iron ore volumes have fallen slightly.
Aurizon hauled 49.4 million tonnes of coal during the three months to March 31, compared to 49.6 million tonnes in the same period a year ago. Iron ore volumes dropped 3 per cent to six million tonnes.
The company has maintained its recently trimmed fiscal year guidance for coal volumes to be between 204 million and 209 million tonnes, while iron ore volumes are expected to remain stable.
Aurizon had swung to a $108 million half-year net loss on the back of higher-than-estimated impairments, as mining customers cut back volumes and slash spending amid a prolonged downturn.
AAP
