Briefs

Yancoal Australia posted a full-year profit after non-recurring items of $404.6 million, a 34% increase from $301.5 million in 2011. The Chinese-owned miner says it plans to cut costs and increase coal production following the stronger profit.

Yancoal joined the local Australian market last June after merging with Gloucester Coal, according to the report.

Treasury Wine Estates reported a net profit of $52.3 million for the six months to December 31, up 30.8%. Chief executive David Dearie has asked federal and state governments for support and more investment to help rebuild Australia’s reputation for quality wine and to revitalise 'brand Australia.'

Excluding one-off items, Treasury Wine Estates' profit for the six months fell 23.2% to $45 million, as noted in the article.

Construction firm Lend Lease sold its aged care business to private equity firm Archer Capital for $270 million as it narrows its focus to property and building.

The new owners, Archer Capital, say there will be no change to the level of care provided following the $270 million acquisition.

Statistics from the Australian Prudential Regulation Authority show households put $57 billion into deposit accounts in the past year.

According to the same APRA data cited in the article, Australians had $588 billion in the bank last month.