Briefs

APPOINTMENTS

APPOINTMENTS

BoQ snares Rose

Bank of Queensland's new chief executive, Stuart Grimshaw, has appointed Anthony Rose as the lender's chief financial officer. Mr Rose was previously the chief financial officer at the banking arm of Suncorp. The appointment follows BoQ last week bolstering its executive ranks with key appointments to its business and retail banking operations. Mr Rose replaces Ewan Cameron who has been the bank's CFO since May last year.

ENERGY

APG braves heat

Australian Power & Gas has retained its year to June net profit forecast of $6 million to $8 million despite unseasonably warm weather holding its December half net profit to $925,000. Earnings per share for the half rose to 0.52? from a loss of 1.22? a year earlier. Its expansion into Queensland and NSW will give it some protection from weather extremes in individual markets in the future, it said.

WRITE-DOWNS

$19m Symex loss

Symex Holdings has booked impairment charges and asset write-downs of $19.2 million in the December half, tipping it to a net loss of $20.6 million. Raw materials costs pressured retail product sales, it said, while rival products undermined the competitiveness of its oleochemicals division.

RECYCLING

CMA shredded

Metals recycler CMA Corp continues to struggle, posting a net loss of $19 million, in the December half, down from the $132 million loss a year earlier. Constrained finances continue to prevent it from achieving maximum operating economies, it said, with litigation with John Holland over alleged contract non-fulfilment adding to its poor performance.

BUILDING

AJ Lucas in red

Onerous financing costs kept builder and driller AJ Lucas in the red in the December half, with a net loss of $13.6 million, only slightly better than the $17.9 million loss a year earlier. The company this week finalised a $36 million rights issue raising, boosting to $50 million the amount raised in recent months as it seeks to strengthen its balance sheet.

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