Australand profit slashed by property downturn
July 28, 2008
Australand Property Group has reported a 79% fall in first half profit after the company wrote down the value of some projects due to the downturn in the residential real estate market.
GPT accounts for changes and costs
GPT Group says finance costs tied to the changes in its credit ratings by ratings agencies have been accounted for in the assumptions underlying its guidance.
Takeover talk not surprising: GPT chief
GPT Group chief executive Nic Lyons says it's not surprising the property trust has been the target of takeover talk, given its strong portfolio of assets.
GPT cuts income guidance to $464m
GPT Group cut its guidance for full-year operating income to $464m from $633m due to the deterioration in global credit markets.
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GPT slashes earnings forecast
Property trust GPT Group cuts its guidance for full-year operating income to $464 million from $633 million.
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Qantas passenger revenues up 4.3%
Qantas says its May group passenger numbers increased by 3.9 per cent over the previous year.
Orica to demerge consumer products
Orica Ltd plans to demerge its consumer products business into a separate company and raise up to $900 million through an entitlement offer.
GPT aims to raise $900m from hotel...
Listed property trust GPT Group has put its landmark tourism and hotel portfolio, featuring some of Australia's key resorts, up for sale.
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GPT operating profit up
GPT Group has reported a 14.5 per cent fall in annual earnings and says it expects to maintain distributions in 2008, given challenging market conditions.
Lend Lease revises expectations
LEND LEASE has joined the growing list of property groups to issue a 10 to 15 per cent profit downgrade for 2008-09 and to flag asset sales - this time due to the collapsing British housing market.
Transurban tolls and fees pay off
Toll road operator Transurban Group has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States.
Australian merchant bank Babcock and...
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Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
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AP - Mike Babcock's new contract allows the oldest of his three children to graduate from the same high school she's attending. And if all goes well with the Detroit Red Wings...
Telstra to outdo profit guidance
Telstra is expected to do better than its guidance when it reveals its annual profit results this week, as it increases revenue from its Next G mobile services.
Qantas full-year profit up 44%
Qantas has increased its full year profit by 44.1 per cent but says it is starting to feel the effect of higher fuel costs amid an uncertain economic outlook.
Transurban toll revenue jumps
Toll road operator Transurban has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States, helped by higher traffic volumes and toll increases.
Westpac office trust valuations down
Westpac Funds Management's office trust says $31.3 million has been wiped from the valuation of its portfolio during the second half of the 2008 financial year.
Qantas gets more passengers
Qantas says its passenger numbers in May increased by 3.9% over the previous year.
Telstra jumps Optus in mobile revenue
Telstra Corp Ltd's mobile phone revenue has surged, extending Australia's biggest telecommunications company's lead over rival Optus in the segment.
Tolls boost Transurban revenue
Transurban reports an increase in annual revenue from tolls and fees on its roads in Australia and the US.
Crown reports $370.1m in profit
Casinos operator Crown Ltd says its Australian casinos have been trading satisfactorily since the start of the 2008/09 financial year.
Qantas profit up but outlook uncertain
Qantas expects a 41 per cent fall in profit this financial year as the airline faces the headwinds of rising fuel costs and a slowing global economy.
Wesfarmers expecting solid growth
Coles owner Wesfarmers has delivered a 33.6 per cent rise in annual profit and expects solid growth again this year despite a tougher economic environment.