Snippets Corner: 08 December 2009 – GCS, CND, ILF, ISF, WCB
December 7, 2009
Global Construction Services Limited (GCS) said that it had been awarded a $75 million contract for work to be done on the construction Western Australian Department of Health’s Fiona Stanley Hospital Project. The construction work for the building, currently managed by Brookfield Multiplex, is related to formwork and concrete installation over the next two years. “Revenue will be booked in the next three financial years, FY10-FY12, providing GCS with an outstanding platform to drive strong growth over the period,” GCS Group Managing Director Enzo Gullotti said.
Clarius Group Limited (CND) forecast profit guidance for the half year ending 31 December 2009 in the range of $1.1 million - $1.4 million, before one off items. The recruitment service provider posted an NPAT of $1.9 million the previous corresponding period and $1.3 million in the half year ending 30 June 2009. Clarius said it was seeing positive signs that demand is increasing, albeit modestly. The company said it managed the remain profitable through the reduction in costs and that borrowings and interest cost had been significantly reduced following an institutional placement and rights issue.
ING Real Estate Community Living Group (ILF) said it had entered an agreement to sell its 49% interest in the US Seniors Meridian portfolio and 50% interest in its Canadian Long Term Care Regency portfolio to its existing joint venture partner, Chartwell Seniors Housing Real Estate Investment Trust. ILF said the sale price was US$110.5 million and C$79.5 million respectively, however net proceeds would be just US$32.6 million and C$9.3 million. The funds would be used to reduce debt the goup said.
Isoft Group Limited (ISF) said it had secured three new contracts for German healthcare providers valued at $2.2 million per year. The Australian software provider said that one of its contracts, with Diagnostische Zentrum am Vincentinum, represented the first time the software would be used as ‘software as a service’.
Warrnambool Cheese and Butter Factory Company Holdings Limited (WCB) said it has received a confidential unsolicited and indicative takeover offer from a third party. WCB said its board has informed the third party that the proposal does not incorporate appropriate value of the company and it cannot be recommended to shareholders in its current form. The company added that it has recovered all of the milk supply volume lost in early 2009 and the Allansford plant is currently operating close to full capacity. WCB said global dairy prices have recovered more than 50% in Australian dollar terms since August 2009.
Clarius Group Limited (CND) forecast profit guidance for the half year ending 31 December 2009 in the range of $1.1 million - $1.4 million, before one off items. The recruitment service provider posted an NPAT of $1.9 million the previous corresponding period and $1.3 million in the half year ending 30 June 2009. Clarius said it was seeing positive signs that demand is increasing, albeit modestly. The company said it managed the remain profitable through the reduction in costs and that borrowings and interest cost had been significantly reduced following an institutional placement and rights issue.
ING Real Estate Community Living Group (ILF) said it had entered an agreement to sell its 49% interest in the US Seniors Meridian portfolio and 50% interest in its Canadian Long Term Care Regency portfolio to its existing joint venture partner, Chartwell Seniors Housing Real Estate Investment Trust. ILF said the sale price was US$110.5 million and C$79.5 million respectively, however net proceeds would be just US$32.6 million and C$9.3 million. The funds would be used to reduce debt the goup said.
Isoft Group Limited (ISF) said it had secured three new contracts for German healthcare providers valued at $2.2 million per year. The Australian software provider said that one of its contracts, with Diagnostische Zentrum am Vincentinum, represented the first time the software would be used as ‘software as a service’.
Warrnambool Cheese and Butter Factory Company Holdings Limited (WCB) said it has received a confidential unsolicited and indicative takeover offer from a third party. WCB said its board has informed the third party that the proposal does not incorporate appropriate value of the company and it cannot be recommended to shareholders in its current form. The company added that it has recovered all of the milk supply volume lost in early 2009 and the Allansford plant is currently operating close to full capacity. WCB said global dairy prices have recovered more than 50% in Australian dollar terms since August 2009.
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