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APPOINTMENTS
By · 1 Mar 2012
By ·
1 Mar 2012
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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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Frequently Asked Questions about this Article…

BoQ has appointed Anthony Rose as its new chief financial officer after Stuart Grimshaw became chief executive. Rose was previously CFO of Suncorp’s banking arm and replaces Ewan Cameron, who had been CFO since May last year. For investors, this signals BoQ is reshaping its finance leadership as part of broader executive changes that could influence strategy, reporting and financial oversight.

Anthony Rose joins BoQ from the banking arm of Suncorp where he served as chief financial officer. His track record at a major banking group gives investors confidence in his experience managing bank finances and reporting, which can be important for BoQ’s financial stability and credibility with shareholders.

APG has retained its year-to-June net profit forecast of $6 million to $8 million. For the December half it reported a net profit of $925,000, and earnings per share for the half rose to 0.52 from a loss of 1.22 a year earlier. The company says expansion into Queensland and NSW will help cushion it against weather-driven volatility in individual markets.

APG’s expansion into Queensland and New South Wales is intended to diversify its geographic exposure. For everyday investors, that means the company expects to be less vulnerable to unusual weather in any single market, which could help stabilise future earnings.

Symex Holdings booked impairment charges and asset write-downs of $19.2 million in the December half, which contributed to a projected net loss of $20.6 million. The company cited higher raw materials costs that pressured retail product sales and increased competition that weakened competitiveness in its oleochemicals division.

CMA Corp posted a net loss of $19 million in the December half, an improvement from a $132 million loss a year earlier. The company said constrained finances prevent it reaching full operating economies, and ongoing litigation with John Holland over alleged contract non-fulfilment has added to poor performance—factors investors should monitor for potential cash and legal risk.

AJ Lucas recorded a net loss of $13.6 million in the December half, mainly due to onerous financing costs. The company finalised a $36 million rights issue this week, which boosts recent capital raised to $50 million overall and is intended to strengthen its balance sheet.

Monitor BoQ’s execution under its new CFO and broader executive changes, APG’s seasonal results and how expansion affects earnings stability, Symex’s progress on cost pressures and asset write-down impacts, CMA’s legal exposure and cash constraints, and AJ Lucas’s use of the recent capital raising to reduce financing stress. Quarterly updates and management commentary will be key for assessing short‑term risks and recovery prospects.