Snippets Corner: 19 January 2010 – CPU, CLH, ASZ, PEA, BKW
January 18, 2010
Computershare Limited (CPU) today foreshadowed a 20% climb in earnings per share for the six months to 31 December 2009 when compared to both halves of the prior financial year. The share registry company, however, struck a more cautious tone in its outlook, saying that a number of significant transactions took place that were unlikely to be repeated in second half of FY10.
Collection House Limited (CLH) shares jumped at the open of trade after the receivables manager said reported earnings for the six months to 31 December, 2009 would be significantly higher than for the previous corresponding period (“pcp”). The company said after tax profit was likely to be at least 55 per cent higher than for the pcp, while pre-tax operating profit is anticipated to rise over 30%. Collection house said the key to growth in first half profit has been its discipline and sharp focus on the business. The company said it also elected to reduce bank indebtedness rather than pay too much for purchased debt, while still being able to maintain revenues.
ASG Group (ASZ) said it has secured a three-year contract, with two one-year extension options, to provide additional IT services to the Department of Education in Western Australia with a total contract value in excess of $23 million. The company said it would provide Oracle Applications Management, Database Administration and Server Operations for all critical corporate applications including HR/Payroll and Finance. In addition to this contract announcement, ASG said it has a project pipeline of more than $500 million.
Pacific Energy Limited (PEA) announced that its subsidiary, Pacific Energy Pty Limited has signed a six-year electricity supply contract with Regis Resources Limited (RRL) to build, own and maintain the Duketon Gold Project Power Station in Western Australia. Pacific Energy said the project has a potential mine life of 10 years. The company added that it continues to progress a number of contract negotiations for the supply of electricity to various other mining and other resource projects which are expected to be signed in the coming months.
Brickworks Limited (BKW) announced the settlement of stage two of its Eastwood brickworks site in NSW to AVJBOS Eastwood Developments Proprietary Limited for $17.5 million. The company said the settlement is part of a $70 million sale, which commenced in September 2007 with the sale of stage one for $35 million. Brickworks said the sale of the 14.7 hectare site would be complete on 3 March 2010 following exchange of unconditional contracts, which would provide a further $17.5 million payment. The company said proceeds of the sale would be used to fund expansion of the building products business.
Collection House Limited (CLH) shares jumped at the open of trade after the receivables manager said reported earnings for the six months to 31 December, 2009 would be significantly higher than for the previous corresponding period (“pcp”). The company said after tax profit was likely to be at least 55 per cent higher than for the pcp, while pre-tax operating profit is anticipated to rise over 30%. Collection house said the key to growth in first half profit has been its discipline and sharp focus on the business. The company said it also elected to reduce bank indebtedness rather than pay too much for purchased debt, while still being able to maintain revenues.
ASG Group (ASZ) said it has secured a three-year contract, with two one-year extension options, to provide additional IT services to the Department of Education in Western Australia with a total contract value in excess of $23 million. The company said it would provide Oracle Applications Management, Database Administration and Server Operations for all critical corporate applications including HR/Payroll and Finance. In addition to this contract announcement, ASG said it has a project pipeline of more than $500 million.
Pacific Energy Limited (PEA) announced that its subsidiary, Pacific Energy Pty Limited has signed a six-year electricity supply contract with Regis Resources Limited (RRL) to build, own and maintain the Duketon Gold Project Power Station in Western Australia. Pacific Energy said the project has a potential mine life of 10 years. The company added that it continues to progress a number of contract negotiations for the supply of electricity to various other mining and other resource projects which are expected to be signed in the coming months.
Brickworks Limited (BKW) announced the settlement of stage two of its Eastwood brickworks site in NSW to AVJBOS Eastwood Developments Proprietary Limited for $17.5 million. The company said the settlement is part of a $70 million sale, which commenced in September 2007 with the sale of stage one for $35 million. Brickworks said the sale of the 14.7 hectare site would be complete on 3 March 2010 following exchange of unconditional contracts, which would provide a further $17.5 million payment. The company said proceeds of the sale would be used to fund expansion of the building products business.
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