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  • M2 Telecommunications Acquires Time Group | Online Stockmarket Trading Update
    addition the customer contracts acquired are largely single product customers presenting excellent cross sell opportunities for our Inside Sales Team Established in 1999 M2 Telecommunications Group Ltd MTU is Australia s largest network independent provider of telecommunications services M2 employs more than 400 people nationwide across the Melbourne headquarters and offices in Hobart Sydney Brisbane Perth and Wollongong M2 also provides fixed line 3G mobile and broadband services in New Zealand M2 s retail business division operates under the leading brands of Commander Southern Cross Telco and in New Zealand Black White Within the retail division M2 offers a suite of telecommunications services equipment personalised service and value added offerings targeted principally at the small and medium sized business market Through the M2 Wholesale division M2 provides wholesale fixed line mobile and data telecommunications services to small and medium sized telecommunications service providers and Internet Service Providers ISPs www m2wholesale com au http www traderdealer com au fundamentals mtu Tags acquisition M2 Telecommunications MTU Phones Telecommunications Time Group ASX Company News Austal Secures Two US Naval Ship Contracts ASX Company News Leighton Secures Another Middle East Contract This entry was posted on Tuesday February 28th 2012 at 6 00 am and is filed under ASX Company News You can follow any responses to this entry through the RSS 2 0 feed You can leave a response or trackback from your own site Leave a Reply Click here to cancel reply Name required Mail will not be published required Website RSS Feed Twitter Follow Us Sign up to our free weekly e newsletter Feel inspired Start trading Recent Post Markets Cap Best January Performance for Over a Decade Weekly Market Wrap The Covered Call Collar Part 3 1 of Options Trading for All Types of Market Environments Stock Market Analysis Markets

    Original URL path: http://blog.traderdealer.com.au/2012/02/28/asx-company-news-m2-telecommunications-acquires-time-group/ (2013-02-03)
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  • M2 Telecommunications | Online Stockmarket Trading Update
    offices in Hobart Sydney Brisbane Perth and Wollongong M2 also provides fixed line 3G mobile and broadband services in New Zealand M2 s retail business division operates under the leading brands of Commander Southern Cross Telco and in New Zealand Black White Within the retail division M2 offers a suite of telecommunications services equipment personalised service and value added offerings targeted principally at the small and medium sized business market Through the M2 Wholesale division M2 provides wholesale fixed line mobile and data telecommunications services to small and medium sized telecommunications service providers and Internet Service Providers ISPs www m2wholesale com au http www traderdealer com au fundamentals mtu Tags acquisition M2 Telecommunications MTU Phones Telecommunications Time Group Posted in ASX Company News No Comments Dividends M2 Telecommunication Ex Dividend On 1 10 2010 Tuesday September 28th 2010 M2 Telecommunication MTU will go ex dividend on 1 10 2010 The current dividend payment is 5 cents and it is 100 franked The record date is 8 10 2010 and the dividend will be paid on 29 10 2010 Based on the full year payment the dividend yield is 4 4 Current Yield 2 2 Franking 100 DRP Discount Not Available M2 Telecommunication Yield has been calculated on the closing price on the 23 9 2010 Current yield is based on the current dividend payment only Tags Dividends Ex Dividend M2 Telecommunications MTU Posted in Upcoming Dividends No Comments M2 Telecommunications Acquire Bell Networks Voice and Data Wednesday June 16th 2010 Diversified telecommunications services provider M2 Telecommunications Group Ltd s wholly owned subsidiary People Telecommunications Pty Ltd MTU has today executed a binding asset sale agreement to acquire the business assets of Bell Networks Voice Data Pty Ltd M2 will acquire the small and medium business SMB customer contracts of Bell Networks and assets required to continue to operate and expand the business The Assets acquired directly correspond with M2 s core SMB market focus The base consideration for the Assets is 4 015 million less certain adjustments payable in cash comprising of an upfront and deferred payment which is subject to certain performance conditions relating to the performance of the Assets over an agreed period Bell Networks also has an opportunity to receive additional bonus consideration based on the performance of the Assets in the 12 months post completion The Assets will contribute approximately 13 million in annual recurring customer revenues and are expected to deliver Earnings Before Interest Tax Depreciation and Amortisation EBITDA of more than 2 million annually This represents a purchase multiple of approximately two times EBITDA The asset sale agreement is subject to certain conditions precedent and the transaction is expected to complete on 1 August 2010 Chairman Craig Farrow stated M2 has seen Bell Networks strong expansion through the M2 Wholesale business through which we have had a long association We look forward to the opportunity to offer existing Bell Networks customers the M2 suite of products including ADSL2 3G mobile broadband and bundled offers

    Original URL path: http://blog.traderdealer.com.au/tag/m2-telecommunications/ (2013-02-03)
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  • MTU | Online Stockmarket Trading Update
    Director and CEO Vaughan Bowen said of the transaction The addition of the Clear business to the M2 Group is another extremely positive step in further expanding our presence in the small and medium business telco market The Clear customer base is not only sizable but is of a very high quality We see considerable opportunity to add further value to the existing customers and in doing so expand both Clear s revenues and earnings contribution over the coming years M2 has secured the employment of all Clear senior operational management has today extended offers of continued employment to all other Clear employees and looks forward to welcoming the Clear employees as new members of the M2 team Established in 1999 M2 Telecommunications Group Ltd ASX MTU is Australia s largest network independent provider of telecommunications services M2 employs more than 400 people nationwide across the Melbourne headquarters and offices in Sydney Hobart Adelaide Brisbane Perth and Wollongong M2 also provides fixed line 3G mobile and broadband services in New Zealand M2 s retail business division incorporates Commander People Telecom M2 Telecom Southern Cross Telco and the recently acquired Clear Telecoms Within the retail division M2 offers a suite of telecommunications services equipment personalised service and value added offerings targeted principally at the small and medium sized business market The retail products are offered across Australia through M2 s national dealer and agent network comprised of the exclusive Commander dealer channel and the extensive People Telecom dealer channel www commander com www peopletelecom com au www sctelco com au www m2nz co nz www bw co nz www simplymobiles com au www greenmobiles com au Tags acquisition M2 Group MTU Telecommunications Posted in ASX Company News No Comments Dividends M2 Telecommunication Ex Dividend On 1 10 2010 Tuesday September 28th 2010 M2 Telecommunication MTU will go ex dividend on 1 10 2010 The current dividend payment is 5 cents and it is 100 franked The record date is 8 10 2010 and the dividend will be paid on 29 10 2010 Based on the full year payment the dividend yield is 4 4 Current Yield 2 2 Franking 100 DRP Discount Not Available M2 Telecommunication Yield has been calculated on the closing price on the 23 9 2010 Current yield is based on the current dividend payment only Tags Dividends Ex Dividend M2 Telecommunications MTU Posted in Upcoming Dividends No Comments M2 Telecommunications Acquires Clever Communications Friday April 16th 2010 Diversified telecommunications services provider M2 Telecommunications Group Ltd and its wholly owned subsidiary People Telecommunications Pty Ltd MTU have today executed a binding Asset Sale Agreement to acquire selected business assets of Clever Communications Australia Limited CVA M2 will acquire Clever s off net fixed mobile data and virtual private network customer contracts comprised of small and medium businesses which are highly complementary with M2 s core focus on the SMB market In addition to the abovementioned customer contracts M2 will acquire all property plant and equipment of Clever required to service the acquired customers M2 will also take on the Clever dealer and agent relationships responsible for marketing the acquired services to SMB s M2 will maintain a licence to use the Clever brand for a transitional period and will enter into a wholesale agreement with Clever to enable it to access to Clever s business grade wireless data service which is being retained by Clever M2 will pay an all cash consideration of 5 million less certain adjustments for the Clever business assets comprised of an up front and a deferred payment which are subject to certain performance conditions relating to the transition of the assets from Clever to M2 over an agreed transitional period The Asset Sale Agreement is subject to certain conditions precedent and the transaction is expected to complete on 1 May 2010 It is expected that the acquisition will deliver M2 a minimum additional annualised Earnings Before Interest and Tax Depreciation and Amortization EBITDA of 2 3 million representing a purchase multiple of 2 2 times EBITDA M2 s Managing Director and CEO Vaughan Bowen said of the acquisition The purchase of this component of the Clever business is a logical addition to M2 s core SMB operation and one which we expect to be a valuable contributor to Group earnings The majority of the customers acquired are being supplied business data services which we will transition to our national business grade data network creating economies of scale through greater utilisation of our network Furthermore we expect the Clever dealer and agency network to provide us with a considerably expanded channel of specialist data sales experts and systems integrators which will enable us to further expand the customer base on our data network Established in 1999 M2 Telecommunications Group Ltd ASX MTU is Australia s largest network independent provider of fixed line mobile and data telecommunications services M2 is head quartered in Melbourne and employs approximately 400 people nationwide M2 also provides fixed line and 3G mobile services in New Zealand Within its retail business division M2 offers a suite of unique bundled telecommunications services and value added offerings targeted principally at the small enterprise market distributed through an exclusive trans Tasman network of sales dealerships agencies and through targeted on line marketing ventures www m2 com au www simplymobiles com au www greenmobiles com au Tags M2 Telecommunciations MTU New acquisition Takeover Telecommunications Posted in ASX Company News No Comments M2 Telecommunication Ex Dividend On 16 3 2010 Tuesday March 9th 2010 M2 Telecommunication MTU will go ex dividend on 16 3 2010 The current dividend payment is 5 cents and it is 100 franked The record date is 22 3 2010 and the dividend will be paid on 14 4 2010 Based on the full year payment the dividend yield is 4 6 Current Yield 2 9 Franking 100 DRP Discount Not Available www m2 com au Yield has been calculated on the closing price on the 5 3 2010 Current yield

    Original URL path: http://blog.traderdealer.com.au/tag/mtu/ (2013-02-03)
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  • Phones | Online Stockmarket Trading Update
    M2 s CEO Geoff Horth said of the acquisition We are extremely pleased to have acquired the Time Group customer base We have worked closely with the owners of Time Group for several years through our M2 Wholesale division during which time we have seen their business grow in both scale and operational maturity The transaction has appeal to M2 for a number of reasons most notably that the assets will contribute to earnings for the 2013 financial year and were acquired for less than three times annual EBITDA consistent with the purchase price of other assets of this nature In addition the customer contracts acquired are largely single product customers presenting excellent cross sell opportunities for our Inside Sales Team Established in 1999 M2 Telecommunications Group Ltd MTU is Australia s largest network independent provider of telecommunications services M2 employs more than 400 people nationwide across the Melbourne headquarters and offices in Hobart Sydney Brisbane Perth and Wollongong M2 also provides fixed line 3G mobile and broadband services in New Zealand M2 s retail business division operates under the leading brands of Commander Southern Cross Telco and in New Zealand Black White Within the retail division M2 offers a suite of telecommunications services equipment personalised service and value added offerings targeted principally at the small and medium sized business market Through the M2 Wholesale division M2 provides wholesale fixed line mobile and data telecommunications services to small and medium sized telecommunications service providers and Internet Service Providers ISPs www m2wholesale com au http www traderdealer com au fundamentals mtu Tags acquisition M2 Telecommunications MTU Phones Telecommunications Time Group Posted in ASX Company News No Comments ASX Company News My Net Fone To Acquire Symbio Wednesday August 31st 2011 The Board of My Net Fone Limited MNF is very pleased to announce that Heads of Agreement have been reached and signed to acquire the Symbio Group of companies Symbio is an international telecommunication services provider based in Sydney Australia The purchase consideration is based on 4 times net earnings with an initial 2M payment upon completion of the purchase process and the balance to be payable according to forecast achievement in two tranches at the end of 2012 and 2013 financial years Symbio provides tailored IP voice carriage and solutions to its Australian and international customer base It has enjoyed impressive success in the Asia Pacific region and is aiming to capitalise on its unique abilities in Asia through its operation Symbio Wholesale in Singapore My Net Fone has worked closely with Symbio for many years on both product development and delivery of VoIP services This acquisition will strengthen My Net Fone s continued product innovation deliver significant cost savings in service delivery and provide a solid path to international growth My Net Fone is Australia s leading provider of fully IP based VoIP data and video services to residential and business enterprise customers The company is renowned for providing cost effective innovative solutions and services with high quality true

    Original URL path: http://blog.traderdealer.com.au/tag/phones/ (2013-02-03)
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  • Telecommunications | Online Stockmarket Trading Update
    direction It enables us to build a service for the Tasmanian Government which will be a platform for integrated communications for the future Cisco Managing Director of Public Sector in Australia Ken Boal stated Cisco shares the Tasmanian Government s vision to create a more efficient government and transform delivery of services to the community Cisco is delighted to work with Anittel and the Tasmanian Government providing a platform that supports Tasmania s public service and communities to connect and work together to create a better Tasmania Anittel provides Cloud Internet Telecommunication and IT services for organisation across regional and metropolitan Australia The company is expanding through organic growth and targeted acquisitions to offer scale geographic reach and expertise for existing and prospective customers www anittel com au Tags Anittel Group AYG Government Contract Telecommunications Posted in ASX Company News No Comments ASX Company News Eftel Acquires Visage Telecom Tuesday August 7th 2012 Eftel Limited EFT signed an agreement to acquire all of the issued shares of VisageTelecom Pty Ltd an Australian voice product service provider to small and medium businesses This acquisition continues Eftel s strategy of identifying value adding synergistic businesses acquired with market competitive EBITDA multiples with relatively low investment payback timeframes creating immediate value to Eftel shareholders The consideration of 450 000 will be paid by way of cash instalments totalling 225 000 and the issue of Eftel shares valued at 225 000 at an issue price of 17 5 cents per share The Vendor of Visage and hence holders of the Eftel shares to be issued are interests associated with Sydney based John Beville a successful entrepreneur with varied business and investment interests The issued shares will be held in voluntary escrow for 12 months Eftel CEO Scott Stavretis commented This acquisition reinforces that the company can identify and acquire assets that offer immediate benefit to the bottom line at very reasonable valuations Our team is highly experienced and geared to manage acquisitions of this nature With that experience we are confident that we will successfully implement all synergies identified within 30 days Eftel Ltd is a multiple award winning Internet and telecommunications provider across the retail wholesale corporate and government sectors The retail division is a Top 10 Internet Service Provider offering a full suite of consumer Internet products www eftel com Tags acquisition EFT Eftel Phones Telecommunications Visage Telecom Posted in ASX Company News No Comments ASX Company News Singapore Telecommunications Acquires Eatability Friday July 27th 2012 Singapore Telecommunications Limited SGT wishes to announce that its Australian subsidiary Optus Mobile Pty Limited has entered into a conditional agreement to acquire 100 of the share capital of Eatability Pty Limited a company incorporated in Australia for an aggregate cash consideration of A 6 million The aggregate consideration for the Transaction was arrived at on a willing buyer willing seller basis based on inter alia an assessment of Eatability s assets and business prospects Upon completion of the Transaction Eatability will become a wholly owned subsidiary of Optus As at 31 December 2011 the unaudited net asset value of Eatability was approximately A 70 000 Eatability is the owner of the restaurant review portal eatability com au one of Australia s leading restaurant and review sites which also provides advertising to food and beverage operators www singtel com Tags acquisition Eatability SGT Singapore Telecommunications singtel Telecommunications Posted in ASX Company News No Comments ASX Company News iiNet Secures More International Bandwidth Wednesday July 25th 2012 iiNet Limited IIN has announced a significant international capacity supply agreement with Southern Cross Cables Limited for the upgrade from 20Gbps to 200Gbps of fully protected diverse path international bandwidth capacity The multi year agreement increases iiNet s international bandwidth capacity and strengthens the ability to provide increased levels of content applications and enhanced services in a cost effective manner in the move towards the NBN The agreement extends iiNet s relationship with Southern Cross Cables Limited supplier of the fastest and most secure international bandwidth from Australia and New Zealand into the USA iiNet s Chief Executive Officer Michael Malone said the agreement was further evidence of the benefits that come as a result of delivering on the iiNet strategy The continuation of our growth strategy following the acquisitions of TransACT and Internode has cemented our position as the second largest DSL provider in Australia This growth has translated into improved supply agreements and commercial returns making way for the delivery of even more innovative products and services Mr Malone said iiNet is Australia s second largest DSL Internet Service Provider ISP and the leading challenger in the telecommunications market It employs more than 2600 inquisitive staff across four countries and support over 1 7 million broadband telephony and Internet Protocol TV IPTV services nationwide www iinet net au Tags Broadband IIN iiNet Product Upgrade Telecommunications Posted in ASX Company News No Comments ASX Company News BigAir Group To Acquire Allegro Networks Wednesday May 23rd 2012 BigAir Group Limited BGL is pleased to announce that is has entered into a binding agreement to acquire all of the shares in Allegro Networks Pty Ltd and RadioCorp Pty Ltd The parties will now conclude the sale and purchase agreements on or before 31 May 2012 Commenting on the acquisition of Allegro BigAir Chairman Paul Tyler said The acquisition of Allegro is highly strategic and synergistic It cements BigAir s position as the leading operator in our two core markets the emerging corporate fixed wireless market and the tertiary student accommodation Internet market The acquisition is expected to deliver significant cost revenue and capital expenditure synergies In combining Allegro s retail corporate customers service offering and spectrum assets with BigAir s national network coverage and access to capital the customers of both organisations will benefit from the expanded service offering and network coverage and the combined engineering and commercial strengths of the two organisations BigAir will acquire Allegro for 7 5 million plus a FY2013 revenue based earn out of up to

    Original URL path: http://blog.traderdealer.com.au/tag/telecommunications/ (2013-02-03)
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  • Time Group | Online Stockmarket Trading Update
    a number of reasons most notably that the assets will contribute to earnings for the 2013 financial year and were acquired for less than three times annual EBITDA consistent with the purchase price of other assets of this nature In addition the customer contracts acquired are largely single product customers presenting excellent cross sell opportunities for our Inside Sales Team Established in 1999 M2 Telecommunications Group Ltd MTU is Australia s largest network independent provider of telecommunications services M2 employs more than 400 people nationwide across the Melbourne headquarters and offices in Hobart Sydney Brisbane Perth and Wollongong M2 also provides fixed line 3G mobile and broadband services in New Zealand M2 s retail business division operates under the leading brands of Commander Southern Cross Telco and in New Zealand Black White Within the retail division M2 offers a suite of telecommunications services equipment personalised service and value added offerings targeted principally at the small and medium sized business market Through the M2 Wholesale division M2 provides wholesale fixed line mobile and data telecommunications services to small and medium sized telecommunications service providers and Internet Service Providers ISPs www m2wholesale com au http www traderdealer com au fundamentals mtu Tags acquisition M2 Telecommunications MTU Phones Telecommunications Time Group Posted in ASX Company News No Comments RSS Feed Twitter Follow Us Sign up to our free weekly e newsletter Feel inspired Start trading Recent Post Markets Cap Best January Performance for Over a Decade Weekly Market Wrap The Covered Call Collar Part 3 1 of Options Trading for All Types of Market Environments Stock Market Analysis Markets Cap Best January for Over a Decade Stock Market Analysis Traders Take Profits Stock Market Analysis Markets Reach Bull Market Territory Stock Market Analysis US Markets Ease Near All Time Highs Markets Higher As

    Original URL path: http://blog.traderdealer.com.au/tag/time-group/ (2013-02-03)
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  • Austal Secures Two US Naval Ship Contracts | Online Stockmarket Trading Update
    Navy confirmed contracts for the first two of those 10 ships in December 2010 and March 2011 Additional options are expected to be awarded in the near future Austal is a global defence prime contractor The Company designs constructs and maintains revolutionary platforms such as the Littoral Combat Ship LCS and the Joint High Speed Vessel JHSV for the United States Navy as well as an extensive range of patrol and auxiliary vessels for defence forces and government agencies globally Austal also designs installs integrates and maintains sophisticated communications radar and command and control systems www austal com http www traderdealer com au fundamentals asb Tags ASB Austal Ship Building US Defence Stock Market Analysis Traders Hold Their Nerve ASX Company News M2 Telecommunications Acquires Time Group This entry was posted on Tuesday February 28th 2012 at 5 57 am and is filed under ASX Company News You can follow any responses to this entry through the RSS 2 0 feed You can leave a response or trackback from your own site Leave a Reply Click here to cancel reply Name required Mail will not be published required Website RSS Feed Twitter Follow Us Sign up to our free weekly e newsletter Feel inspired Start trading Recent Post Markets Cap Best January Performance for Over a Decade Weekly Market Wrap The Covered Call Collar Part 3 1 of Options Trading for All Types of Market Environments Stock Market Analysis Markets Cap Best January for Over a Decade Stock Market Analysis Traders Take Profits Stock Market Analysis Markets Reach Bull Market Territory Stock Market Analysis US Markets Ease Near All Time Highs Markets Higher As Investors Play Catch Up Weekly Market Wrap Investing in 2013 continued Part 9 Stock Trading Tips for All Types of Market Environments Stock Market Analysis Markets

    Original URL path: http://blog.traderdealer.com.au/2012/02/28/asx-company-news-austal-secures-two-us-naval-ship-contracts/ (2013-02-03)
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  • ASB | Online Stockmarket Trading Update
    Asian region manufacturing base and also supports service and maintenance work The company is retaining its large commercial vessel manufacturing capability in Australia Austal has significant intellectual property in the design and construction of commercial vessels which provides cost and performance advantages to both Austal and our customers Mr Bellamy said The acquisition of the Asian shipyard will have no adverse effects on Austal s Australian and US operations with both manufacturing facilities currently under contract for several significant multi vessel multi year defence programs Austal is a global defence prime contractor The Company designs constructs and maintains revolutionary platforms such as the Littoral Combat Ship LCS and the Joint High Speed Vessel JHSV for the United States Navy as well as an extensive range of patrol and auxiliary vessels for defence forces and government agencies globally Austal also designs installs integrates and maintains sophisticated communications radar and command and control systems www austal com http www traderdealer com au fundamentals asb Tags acquisition ASB Austal Marine Vessels Ship Building Posted in ASX Company News No Comments ASX Company News Austal Receives Order For 14 million Ferry Sunday June 12th 2011 Austal ASB confirms an unconditional contract has been signed for the supply of a 41m aluminium passenger ferry The value of the order is approximately 14 million Due for delivery in the second quarter of 2012 the high speed ferry will be built at Austal s Henderson Western Australia shipyard Austal Chief Executive Officer Andrew Bellamy noted that the timing of this contract was favourable This contract will enable Austal to retain its core capabilities in its highly skilled staff which will assist in the planned objective of refocussing the Henderson yard s capabilities towards the manufacture and support of defence vessels Further details cannot be released at this time due to a customer confidentiality agreement www austal com http www traderdealer com au fundamentals asb Tags ASB Austal Ferry New contract Ship Building Posted in ASX Company News No Comments ASX Company News Austal Recieves Fourth US Navy Order Monday March 21st 2011 The USA division of Australian headquartered Austal Limited has been awarded a fixed price incentive contract by the U S Navy for the construction of Austal s fourth 127 metre trimaran hullform independence class Littoral Combat Ship LCS 8 The contract for LCS 8 is worth USD 368 592 125 and is the second ship awarded under Austal s recently announced LCS 10 ship block buy contract Austal s Chief Executive Officer Andrew Bellamy said the award of this second ship under the 10 ship block buy contract further affirms the United States Navy s commitment to the LCS program and underscores their confidence in Austal to construct these vital ships Mr Bellamy quoted from today s press release from the U S Navy which stated that LCS is needed to fill critical urgent warfighting requirements gaps that exist today LCS is required to establish and maintain U S Navy dominance in the littorals and sea lines of communication choke points around the world Construction of Austal s LCS 8 will commence in January 2012 at its shipyard in Mobile Alabama where work is presently underway on the following U S Navy vessels Coronado LCS 4 scheduled for launch in summer 2011 Spearhead JHSV 1 scheduled for launch in mid 2011 and delivery in December 2011 and Vigilant JHSV 2 scheduled for launch late 2011 and delivery in mid 2012 Over the course of the next 12 months Austal will also commence the construction of LCS 6 the first vessel awarded under the LCS 10 ship block buy contract and JHSVs 3 4 and 5 www austal com http www traderdealer com au Fundamentals asb Tags ASB Austal Marine Services Ships Posted in ASX Company News No Comments Stock Market Analysis Australia s GDP Growth Rate Slows Thursday December 2nd 2010 There are two key reports out yesterday that indicate the strength of the Aussie economy GDP and its trading partner China PMI Australian GDP The Australian Bureau of Statistics ABS show that GDP growth over the third quarter 3Q10 came in at 0 2 percent and the June quarter was revised to 1 1 percent We expected the 3Q10 GDP growth to fall with net exports providing a bigger drag than expected Economic growth in Australia has fallen sharply with the economy expanding by 2 7 percent in the 12 months to September versus economist forecasts of 3 4 percent before yesterday A slump in net exports was the main drag on the economy costing 0 4 percentage points from the quarterly figure Chinese PMI Also in the news was the PMI data showing that Chinese factories ramped up production in November for a 21st consecutive month through increasing output and growth in export orders but they still face pressure from rising input costs The Official Chinese data showed the purchasing managers index PMI jumped to a 7 month high of 55 2 in November up from 54 7 the previous month Inflation continues to be a problem for the Chinese economy and that data will do little to ease concerns of investors over another rate hike in China before the end of the year The government has already increased bank reserve requirements five times this year as well as restricting bank lending in an attempt to dampen inflation The Australian Economy The Australian economy remains heavily reliant on the commodities sectors with the demand for Australian resources from China and India remaining strong which is underpinning growth in the Australian economy through the mining sector Elsewhere the agricultural sector was the biggest contributor to GDP growth in the quarter growing by 21 5 percent and adding 0 4 percentage points to the GDP figure Household spending held up The Reserve Bank RBA should be happy with the recent strong employment figures and how this data confirms the job growth and the commodities boom remains robust and that consumers are continuing to save probably

    Original URL path: http://blog.traderdealer.com.au/tag/asb/ (2013-02-03)
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