LA Private

February 29, 2024

Harvey Norman’s profit slumps

A slide in sales and profits was always on the cards after Harvey Norman (ASX:HVN) provided updates in recent months about the sales performance in what was a tough six months to the end of December. The final update in January showed a slowing in the rate of fall in sales, with the drop for

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South32 agrees to $US1.65 billion sale of Illawarra Metallurgical coal mine

South32 (ASX:S32) has agreed to sell its Illawarra Metallurgical Coal mine and processing plant, located south of Sydney, to Indonesian and Australian buyers for up to $US1.65 billion. The buyers include the Indonesian-controlled Golden Energy and Resources, which controls Stanmore Resources, and M Resources, controlled by Australian coal trader and investor Matt Lattimore. Additionally, Sinar

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Mosaic Brands sees turnaround

Underperforming women’s wear retailer Mosaic Brands (ASX:MOZ) regards the six months to December as a ‘turning point’ for the embattled group. Retiring CEO Scott Evans stated in commentary that the group is now in a better position than it has been for a while, with net profit after tax rising 38% to $5.4 million. There

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Ramsay Healthcare: Once-off windfall, but challenges persist

In the interim results of Ramsay Healthcare (ASX:RHC), while the sale of its Asian private hospitals joint venture provided a substantial one-off profit, the broader business faced significant challenges over the past six months. The sale of the joint venture led to a notable boost in statutory profit, soaring to an impressive $758.5 million from

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Stocks of the Hour: Ardea Resources, Thor Energy, Helix Resources

To register for Friday’s webinar click here. Ardea Resources (ASX:ARL) provides an update on progress with the Consortium, comprising Sumitomo Metal Mining and Mitsubishi Corporation, following the signing of a non-binding MOU. The Consortium and Ardea have agreed on the scope of work and budget for the Kalgoorlie Nickel Project (KNP) Goongarrie Hub Definitive Feasibility

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ASX down 0.16%: retail sales grow by 1.1% in January

In January, retail sales increased by 1.1%, falling short of the expected 1.5% growth, indicating volatility in spending patterns. Despite a rise to $35.7 billion in sales, the year-on-year increase was only 1.1%, reflecting weak performance relative to the country’s rapid population expansion. Meanwhile, Bitcoin achieved a record high in Australian dollars, hitting $97,000 on

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