InvestSMART
The Intelligent Investor Growth Fund is listing on the ASX. Initial Offer closes Friday.

Briefs

MINING

MINING

Glencore bid

Shares in Minara Resources soared after Swiss commodities producer and marketer Glencore offered to mop up the 27 per cent stake in the nickel miner it did not already own. Minara shares closed up 23.5? at 87.5? after more than 35.93 million shares changed hands. The price is just above Glencore's intended offer of 87? a share in cash.

WASTE

Transpacific slump

Transpacific Industries has posted a full year net loss of $296.5 million, promising to make tough decisions to improve performance. The waste management and industrial cleaning services company said its results were down from a $59 million profit the previous year, after booking a total non-cash write-down of $340.7 million.

AVIATION

Strong headwinds

Full year profit at Regional Express Airlines has fallen due to high fuel prices, natural disasters and the ending of tax incentives. The airline reported net profit of $17.59 million for the 12 months to June 30, down 28.5 per cent from the prior corresponding period.

EMPLOYMENT

Restructure costs

Strong demand for recruitment in the mining and resources sectors helped boost revenue for Skilled Group but profit plunged 75 per cent on restructuring and other costs. Net profit for the year to June 30 for the employment agency was $3.14 million, down from $12.7 million.

FINANCE

Loans extended

Mortgage borrowers are keeping their loans for longer as shrinking consumer confidence bites, Mortgage Choice says. Clients of the broker are extending the life of their loans, with the average life of existing loans at five years in 2010-11, up from 3? years five years ago.

EQUIPMENT HIRE

Profits soar

National Hire Group has more than tripled its full year profit and expects further growth in 2011-12. The company reported a net profit after tax of $26.5 million for the year to June 30, up 359 per cent from $5.8 million in the previous corresponding period.


Join the Conversation...

There are comments posted so far.

If you'd like to join this conversation, please login or sign up here

Related Articles