Aug 18, 2017 Last Updated 2:35 PM, Aug 17, 2017

New Entry From the Editor :

Telstra cuts dividend outlook after disappointing FY performance

Telstra cuts dividend outlook …

AusBN - Telstra (ASX:TLS) has revealed its full-year (FY) profit dropped 33...

Contrasting fortunes for Origin and Woodside in FY results

Contrasting fortunes for Origi…

AusBN - Origin Energy has posted a full-year (FY) loss of AUS$2.2 billion a...

Report finds majority of top Australian firms ill-equipped for business in Asia

Report finds majority of top A…

AusBN - A report by think tank Asialink has found that a large majority of ...

Indonesia slashes Australia live cattle imports

AusBN – Indonesia’s biggest importer of Australian live cattle has cut its import quota by 80%.

Australia’s live cattle shipments to the country are expected to plunge following the cut, which will see the importer rely more on domestic supply.

In the third quarter Indonesia, which is Australia’s top live cattle market, will import 250,000 less head than they did in the previous quarter.

Australian Livestock Exporters’ Council CEO Alison Penfold said: “We were surprised and disappointed at the figure, it wasn’t what we expected.”

Agriculture minister Barnaby Joyce added: “It’s something I hope we can rectify soon.

“It is a volatile market and that’s why I think it’s so much better that we work toward an annual quota.”

@AusBNOnline

CPC reports a $27m turnaround

AusBN – Consolidated Pastoral Company is hoping that it’s recent A$27 million turnaround in financial fortunes will help it to attract new investors.

The company, which is Australia’s largest privately-owned cattle business, was led into the black by a combination of cost restructuring, strong growth in export markets and increased cattle prices.

A net profit of $1 million was reported by the company for the year ending in March 2015, which was up from the $26 million net loss recorded the previous year.

CEO Troy Setter said: "In July 2014 we were in a pretty tough position for the business.

"But we've [had] great teamwork to turn that around."

"We've had considerable interest in CPC from a variety of parties both offshore and domestic.

"We'll certainly have a look at Kidman, there's parts of it that interest us, but we were committed to raising equity well before Kidman came onto the market."

@AusBNOnline

CBH Group acquires Blue Lake Milling

AusBN – Blue Lake Milling has been acquired by Western Australia’s largest grain handler CBH Group.

Blue Lake Milling operates oat mills in both South Australia and Victoria and the CBH Group hopes this acquisition will help grow the oats industry in Western Australia.

The investment also provides the CBH Group with a chance to tap into the South East Asian oat market.

CBH CEO Andy Crane said: "We've had a long term strategy of always looking along the growers supply chain for where we can add value from our growers’ grains.

"Clearly we've been very involved in wheat and we've made the step into the malting industry with our new maltings in Vietnam and so oats was the next cab off the rank."

Crane went on to say that Blue Lake Milling was a perfect match for the company.

He said: "They are bringing some great expertise in how to process oats and fantastic customer relationships.

“They are providing products into some of the most well-known brands and that is something we can clearly expand.

"They are supplying the major supermarkets with some of their own brands and when you walk down the breakfast aisle you will see products that are containing oats that are coming from Blue Lake Milling.

"They have a very wide seep of products instant oats, quick oats and they even make pre-mixes and muesli for different customers, so a really accomplished business."

@AusBNOnline

This Month's Issue

AusBN Vol3 Iss1

Subscribe

rgn web banner

abn web banner