Sydney, Sept 13, 2007 (ABN Newswire) -
The world's biggest explosives maker, Australia's Orica, has delivered significant
profit growth this year, with a global mining boom boosting its earnings. Chief Executive Graeme Liebelt says the company is satisfied with its progress and believes profits will be significantly ahead of last year. He also says Orica is interested in acquiring any chemical assets owned by conglomerate Wesfarmers. It's also looking at expanding across the globe including into Europe and China and was also attracted by opportunities in Brazil, Chile and Peru. Orica's profit highlight was in 2006 of just over $539 million.
Trucking magnate Lindsay Fox is likely to demand about $1 billion for his Linfox transport logistics empire from Qantas. Qantas management, are understood to favour buying Linfox as the first step to bolster its new stand-alone freight arm, before floating the combined entity as a separately-listed public company. Analysts yesterday indicated the cash-rich carrier would still be able to fund the purchase from its own resources and continue its billion-dollar share buy-back. Qantas has posted profits over the last five years.
CSR has announced that the $150 million institutional placement to partly fund the pending acquisition of DMS Glass has been successfully completed. The placement was supported by existing institutional shareholders and a range of new institutional investors. The move has resulted in the placement price being set at $3.06 a share with 49 million new shares to be issued. CSR's profits have been steady after a huge spike in 2003.
The full report is available at the following video and audio links.
Video Link
http://abnnewswire.net/fnnlnk/B70B2T4AAudio Link
http://abnnewswire.net/lnk/2X5MEA57Source: Finance News Network © 2007
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