forecast

The Mining Business Outlook report, published by Newport Consulting, found that falling global commodity prices and increasing operating costs are influencing future investment into the industry.

• 56 percent of mining leaders still planned to spend on major capital expenditure
• 20 percent of mining projects stalled by industrial action from unions
• 24 percent of Australia's mining leaders were very optimistic (only half compared to previous year)

Australian outdoor goods and clothing retailer, Kathmandu (ASX:KMD) has lowered its profit forecast due to a weaker retail environment.

Australian fashion retail holding company, Premier Investments (ASX:PMV), which owns Just Group, Jay Jays, Peter Alexander and Portmans fashion labels have stated that they expect a 3 percent improvement in annual sales for Just Grop to $870 million. Profit forecast after tax for the 2010 fiscal year for Just group is $78 to $81 million. However, the company's Portmans fashion brand posted a $18.5 million loss.

Premier Investments Profits and Dividends

Australian insurance company, QBE Insurance (ASX:QBE) has issued a warning to the share market that its profit forecast is 40 percent lower than last year. As a consequence, company shares have fallen.

Profit Forecast Hit by Investment Losses

QBE Insurance has informed the market that heavy investment losses offset the 20 percent growth in insurance premiums and a 7 percent increase of insurance profit to US$820 million.

Australian automotive and accessories retailer, Super Cheap Auto Group (ASX:SUL) has said it expected a projected annual net profit of $38 million. The company's profit at the same time last year was $32.1 million, an increase of 18 percent.

Super Cheap Auto Company Results

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

Australia’s largest telecommunication carrier Telstra (TLS), continues to struggle as a large number of analysts downgraded its share this week. The downgrading took place at a time when the company is planning to offload fresh block of shares in the market. The $66 billion worth of Future Fund of commonwealth, which holds 10.9 percent ownership of Telstra, will be able to go on with selling its stake from Tuesday next week.