Business News

Construction and maintenance company, Transfield (ASX:TSE) have announced its half year financial results for 2013 to its shareholders and investors on the Australian stockmarket.

• Transfield Services posted a $247 million Loss for the 6 months.
• Transfield chief executive Graeme Hunt said, " We are cutting parts that are not aligned with strategy or do not meet our margin, capital or growth criteria."

Oil Search (ASX:OSH) have announced its full year financial results for 2012 to its shareholders and investors on the Australian stockmarket.

• Oil Search have posted a Net Profit of US$175.8 million for the 2012 financial year, down 13 percent on $202.5 million in 2011.
• OSH revenue fell to US$724.6 million from US$ 732.9 million.

Australia's largest private hospital company, Ramsay Health Care (ASX:RHC) have announced its half year financial results for 2013 to its shareholders and investors on the Australian stockmarket.

• Ramsay Healthcare profit up 10.1 percent to $138.4 million in the financial half year from $125.7 million in the prior corresponding period.

Kerry Stokes' mixed mining and media business Seven Group (ASX: SVW) have announced its company financial results for the first half of 2013 to shareholders and investors on the Australian stock market.

• Seven Group Net Profit for the first half was $256.8 million, up from $52.1 million in the previous corresponding period.

Airline company, Virgin Australia (ASX:VAH) have announced its half year financial results for 2013 to its shareholders and investors on the Australian stockmarket.

• Virgin Australia Net Profit of $23 million for the half, down 56 percent from $52 million in the previous corresponding period.
• Virgin Australia's underlying profit before tax down to $61 million from $91 million. The first half of 2011-2012 gave Virgin an advantage after industrial action at Qantas.

Financial advisory WHK Group (WHG) have announced its first half financial results for 2013 to its shareholders and investors on the Australian stock market.

• WHK Group posted Net profit of $5.2 million, down 22 percent from $6.7 million on the previous corresponding period.
• WHK revenue fell 2 percent to $210.9 million.
• WHK Group also made 123 positions redundant at the cost of $3.2 million.

Insurance company, QBE Insurance Group (ASX:QBE) have reported its full year financial results to shareholders and investors on the Australian stock market.

• QBE Insurance Net Profit US$761 million up 8 percent from US$704 million in FY 2011.
• QBE full year insurance profit margin was 8 percent, up from 7.1 percent.

Iron Ore Mining company Atlas Iron (ASX:AGO)has announced its first half year results for 2013 to its shareholders and investors on the Australian stock market.

• Atlas Iron posted a full year Net Loss of $256 million, down from a $6.08 million profit in 2011.
• The financial loss includes $455 million in impairment charges on Atlas' undeveloped Horizon 1 and 2 project areas and other tenements.

Casino company Crown Casino (ASX:CWN) have reported their first half profit results to its shareholders and investors on the Australian stock market.

• Crown posted a $180.8 million Net Profit, down 34.1 percent from $274.4 million in the previous corresponding period.
• The result included a $74.3 million loss on Sydney and Queensland casino operator Echo Entertainment. Crown has a 10 percent stake in Echo.

Fuel distribution company, Caltex Australia (ASX:CTX) have announced its full year profit results for 2012 to its shareholders and investors on the Australian sharemarket.

• Caltex Australia Net Profit of $57 million, up from a loss of $714 million in the previous year.