BRIEFS

PMP retaining the contract means the printing and distribution business will continue printing Woolworths catalogues — a contract it has held for about 10 years and which is described as one of the largest commercial print contracts in Australia. For everyday investors, retention suggests ongoing revenue stability from a long-term client.

Keeping a major, long-standing contract with Woolworths supports PMP's revenue predictability in commercial printing and distribution. While the article doesn't detail financial terms, continued work on one of Australia’s largest print contracts is generally positive for operational stability.

IAG sold the Independent Commercial Brokers business for about £10 million (A$15.4 million) to its existing management team as part of IAG’s wider exit from loss-making UK businesses. The sale is consistent with IAG streamlining operations in markets where it has faced losses.

The company announced the sale but said details were yet to be finalised. Investors should note the headline price (~£10 million / A$15.4 million) and that the transaction is part of IAG’s strategy to exit unprofitable UK operations.

APT Projects, an Elders subsidiary, will sell 30,000 hectares of pulpwood timber plantations in the Ord River irrigation area. The standing timber is owned by MIS (managed investment scheme) investors in those schemes, not by Elders itself.

Elders said it is not selling its own assets but will receive a fee for facilitating the sale of the MIS-owned standing timber. The agreement also provides for the conditional sale of MIS-grower-owned Indian sandalwood standing timber to the same associated entities.

ANZ sold its Eftpos terminal leasing unit in New Zealand to global payments company VeriFone Systems for an undisclosed sum. Eftpos NZ employs about 160 staff who will be transferred to VeriFone as part of the transaction.

Brambles bought container supplier Pallecon for €135 million (A$170 million). Pallecon supplies bulk containers across Europe, Australia and New Zealand for food, cosmetics and chemicals. Brambles said the purchase will be funded from existing bank borrowing facilities.