IN BRIEFS

MINING

MINING

Ivanhoe on go

Ivanhoe Australia will continue spruiking its assets to potential joint-venture partners, under a plan to save more than $75 million in capital expenditure and up to $46 million in overheads over the next two years. The decision comes after completion of a company-wide review sparked when Rio Tinto assumed a controlling stake this year.

BUILDING

Adelaide rosy

Building materials group Adelaide Brighton is optimistic of increasing full-year earnings despite the challenges in the residential and commercial property markets. It posted a net profit of $67.5 million for the half-year to June 30, up 9.8 per cent, which it called a solid result in difficult conditions.

FUNERALS

Expansion eye

Australia's biggest funerals operator is hunting acquisitions after lifting interim profit by 40 per cent. Despite fewer memorials, InvoCare boosted net profit to $20.3 million in the half-year to June 30, from $14.5 million in the previous corresponding half. InvoCare attributed the profit rise to the success of Bledisloe Group, the New Zealand funeral operator acquired last year.

BROKERS

BBY stocks up

Brokerage BBY has signed an agreement to acquire smaller rival Cameron Stockbrokers. The transaction, for an undisclosed amount, will involve about 20 of CSL's client advisers folding into BBY.

PROPERTY

Dexus focuses

Property group Dexus has finished a strategic review to sell overseas assets to focus on Australian offices. For the year to June 30, it reported net profit of $181.1 million, down from $553 million the year before.

DIGITAL

Broadband lift

Acquisitions lifted full-year revenue at iiNet by 19 per cent to $831 million. Profit rose 11 per cent to $37 million. The broadband provider declared a final dividend of 8?.

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