Shares in Australia's biggest listed gold producer could be trading on the Toronto Stock Exchange within a fortnight, after Newcrest Mining revealed it had won preliminary approval for the new listing. Newcrest chief executive, Greg Robinson, said the listing would allow Newcrest to be more easily compared to its rivals in the gold sector.
Stock market data provider IRESS Market Technology expects profit to be flat at best in 2012 after uncertain global markets contributed to an 18 per cent fall in profit for 2011. IRESS said trading so far in 2012 had been mixed. IRESS reported a net profit of $41.3 million in the six months to December 31, down from $50.5 million.
APA holds forecast
Pipeline owner and manager APA Group held unchanged its forecast of $530 million to $540 million for earnings before interest, tax, depreciation and amortisation for the year to June, even though its net profit for December half slipped 6 per cent to $66 million. The first half distribution has been raised to 17? from 16.5?.
Transfield Services has declared a steady 5?-a-share dividend after posting a net profit of $32.6 million for the six months to December, up 134 per cent. The higher profit had been flagged to the market earlier this month. For the year to June, the net profit is forecast to be at the lower end of the range of $130-135 million.
Little World up
Buoyant demand for its beer and cider pushed the net profit of Little World Beverages ahead by 32 per cent to $6.1 million in the December half. The new Geelong brewery is now expected to be commissioned in early 2013, while capacity expansions to its WA breweries will keep up with demand growth for the next 12-18 months, it said.
NAB opens in India
National Australia Bank has opened its first branch in India, as the lender starts expanding into Asia. NAB's chief executive of Asia, Rob Wright, said the launch of the branch was a considered step forward in NAB's commitment to the region.