Sydney, July 31, 2007 (ABN Newswire) - Qantas Airways has plans to split itself into four separate businesses according to the Sydney Morning Herald. Citing no sources, the newspaper said the move is designed to unlock value following the infamous $9 billion failed takeover in May. Apparently the main airline and Jetstar will form one unit, with the other three units owning the planes, frequent flyer programme and the freight business. According to the paper, the airline will maintain 100 per cent ownership of the units, though outside investors could become involved. The restructure is expected to be announced when Qantas reports full-year results in mid-August. Qantas profits eased in 2006 after climbing to record heights the previous year.
Leighton Holdings has increased its stake in Macmahon Holdings to about 12 per cent according to the Australian Financial Review. Leighton reportedly bought most of the 41 million Macmahon shares that changed hands yesterday after the contractor announced Leighton had already bought a 4.9 per cent stake in the company. Macmahon also announced yesterday it had rejected Leighton?s proposal to take a significant stake in the company through a share placement. Macmahon Holdings saw earnings ease from the previous year's highlight to just over $7.5 million in 2006.
Lion Nathan reaffirmed its flat full-year forecast today, blaming commodity prices for the results. Australia's second largest brewer said it had aimed to achieve between 5-8 per cent revenue growth and 7-10 per cent earnings growth this year, but it's been unable to inject any fizz into the disappointing outlook. Lion Nathan posted record earnings in 2006
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