Snippets Corner: 20 November 2009 – ANZ, NHR
November 19, 2009
Australia and New Zealand Banking Group Limited (ANZ) announced it has agreed to sell its Custodian Services business in Australia and New Zealand to J.P. Morgan. ANZ said the transaction continues the process of refocusing ANZ’s Institutional business on its core banking priorities in Australia, New Zealand and Asia. The company added that J.P. Morgan Worldwide Securities Services is ideally placed to service Custodian’s clients with its comprehensive suite of custody and securities products and solutions. ANZ said the transaction is expected to be complete before the end of CY09, subject to regulatory approvals, and would be followed by the progressive transfer of business and staff within 2010.
National Hire Group Limited (NHR) said it expects that NPAT for the first half of the 2010 financial year will be in the range of $2 million to $5 million compared with $15.3 million the first half of the 2009 financial year. This estimate remains subject to completion of asset sales in Coates Hire in line with current expectations, audit review of the first half financial statements and reasonable trading conditions for the balance of the period.
National Hire Group Limited (NHR) said it expects that NPAT for the first half of the 2010 financial year will be in the range of $2 million to $5 million compared with $15.3 million the first half of the 2009 financial year. This estimate remains subject to completion of asset sales in Coates Hire in line with current expectations, audit review of the first half financial statements and reasonable trading conditions for the balance of the period.
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