Earnings

Clothing retailer Kathmandu Holdings (KMD) joins Billabong and JB Hi-Fi in experiencing the holiday dilemma as the Kathmandu announced to expect its half year earnin

Shares of surfwear retailer Billabong International (BBG) plunged after announcing its half year earnings to fall between $70 million to $75 million from the $96.4 million in the prior corresponding period. The shares fell by 34.4 per cent to $2.39 at 1033 AEDT.

JB Hi-Fi (JBH) reported last night that it expects its half year earnings to decline by 5 per cent as its shares dropped by $1.96 or 13.1 per cent to $13.04 in the morning trade. The electronics retailer surprised the market by experiencing a downgrade on what is supposed to be the busiest time of the year.

Nufarm (ASX:NUF) remains upbeat for the new financial year as it forecast a boost in underlying earnings despite a loss of nearly $50 million due to one-off write-downs.

The farm chemicals group posted a net loss of $49.9 million for the 12 months to the end of July, up from a $22 million loss last year. Without the $148 million losses, however, underlying profit rose 68 percent to $98.2 million.

Pallet supplier Brambles (ASX:BXB) has won back a contract from US food manufacturer Con Agra and an extension of Brambles' contract with Dole Foods in Central America. The deal came after Bramble's US competitor iGPS failed to supply Con Agra with plastic pallets.

An iGPS supplier cited funding concerns and Chapter 11 bankruptcy for delays in supply.

Real estate developer Mirvac Group (ASX:MGR) said it was on track to hit between 12 to 14 percent earnings growth for 2011-2012. The company is positive on earnings forecasts after sales broke records for a weekend.

In Tuesday's third quarter operational announcement, Mirvac stated that a net profit and earnings per security (EPS) guidance between 10.4 and 10.6 cents per stapled security was expected for the year to end of June.

Westfield (ASX:WDC) confirms forecast earnings and will start developmens in the next two years. The company has also stated that its net operating income is in line with the first quarter share trading forecast.

Publisher APN News Media (ASX:APN) yesterday forecast first half of the year earnings of about $15 to $20 million reduction from the previous year. Queensland flooding and the Christchurch earthquake were cited by the company in March to have "significantly and negatively impacted" APN's first-quarter results.

At the company's annual meeting, APN chairman Gavin O'Reilly told shareholders that APN would rally with "a round of restructuring initiatives."

Airport operator, Map Group (ASX:MAP) has announced an increase of 12.1 percent in full year earnings at Sydney Airport. In 2009, EBITDA (Earnings before interest, tax, depreciation and amortisation) was $689.3 million, which rose to $773 million in the financial year ending December 31.

Full-year capital expenditure for Sydney Airport was $136.4 million, which was for two major projects: the international terminal redevelopment and runway safety works.

M2 Telecommunications (ASX:MTU) have released a strong earnings guidance for 2010/11. In a company statement released on Tuesday, M2 expects to reveal substantial growth since the last financial year.

M2 Telecommunications Earnings Guidance