Briefs

Breville up 40%

Breville Group has increased its full year profits by 40.5 per cent, despite subdued consumer demand. The kitchen appliances maker reported a net profit of $31.7 million, up from $22.6 million in the previous year. Sales revenue was $393.6 million, down slightly from $394.4 million.

PAPER

Losses blow out

Troubled paper merchant PaperlinX has reported a full-year loss almost three times the size advised to the market. In July, the company said it expected a loss of $40 million for the 2010-11 financial year. Instead, the company's vulnerability to the high Australian dollar and the economic downturn in Europe and the US resulted in a $108 million loss.

WEALTH

IOOF delivers

IOOF Holdings kept its promise to investors, delivering a 29 per cent rise in annual net profit. The wealth manager posted a net profit of $99.5 million for the year to June 30, up from $77.37 million a year earlier when profit quadrupled due to its merger with Australian Wealth Management.

ENERGY

ROC in the red

Oil and gas producer ROC Oil has posted a small half-year loss due to higher taxes, levy charges and derivative losses. Net loss for the six months to June 30 was $US6.6 million ($6.3 million), compared with a profit of $US6.7 million ($6.4 million) for the same period last year.

PROPERTY

Retirees lift FKP

FKP Property Group reported an underlying profit of $121 million for the year to June 30, up 11 per cent on the 2010 result. Earnings were in line with guidance and were underpinned by strong contributions from its residential communities and retirement divisions. Investors were paid a distribution of 3? per security.

MINERAL SANDS

Iluka back in black

Iluka Resources has reported a return to profitability in the first half of 2011 and says pricing is expected to be good in the period ahead. The mineral sands miner said net profit for the six months to June 30 was $145.9 million, from a $6.6 million loss in the previous corresponding period.

TAKEOVERS

Macarthur cleared

Japan's Fair Trade Commission will not challenge the proposed $4.7 billion takeover of Macarthur Coal by Peabody Energy and ArcelorMittal. The offer was conditional on clearance from the commission.

PROPERTY

Investa ahead

Investa Property Group reported a net profit of $143.9 million for the latest year, up from $42.5 million last time. The fund's operating income was $135.6 million, compared with $151.2 million in the previous financial year.