Immuron deprioritises Covid-related R&D
ASX and NASDAQ-listed biotechnology company Immuron has deprioritised its SARS-Cov-2 R&D to focus on clinical development of more advanced-stage therapeutic drug candidates, it announced on Friday.
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Codan delivers record sales, profit and dividend
Defence radio and metal detection manufacturer Codan has delivered a record underlying profit of $100.5 million in the latest year, a three percent rise on FY21. This was achieved on sales up 16 percent to $506 million, partly reflecting the first year of the acquisition of the DTC and Zetron communications businesses. CEO Alf Ianniello…
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Australia may be heading for emissions trading between big polluters
By Ian A. MacKenzie, The University of Queensland Could Australia soon have a form of emissions trading? Yes, if Labor’s much-anticipated paper on fixing Australia’s mediocre emissions-reduction framework, released today, is any guide. At present, Australia relies on the controversial safeguard mechanism to encourage big emitters such as fossil fuel power plants and manufacturers to…
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Cleanaway’s growth spurt following failed takeover
Waste handling group Cleanaway has experienced strong growth following its partially failed $2.5 billion takeover of the Australian operations of the Suez company. While the takeover did not go ahead, Cleanaway emerged with ownership of Suez’s Sydney Resource Network assets, which have been integrated into the business helping boost net revenue in the latest year…
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Federal government takes step towards national EV strategy
The federal government has said it will release a discussion paper shortly as a step towards developing the country’s first National Electric Vehicle Strategy. In a statement on Friday from prime minister Anthony Albanese, it was said the strategy would be based on improving uptake of EVs and their affordability. According to the statement, only…
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Cochlear grows, but not the same as before Covid
Cochlear may have grown its sales from the depths of a Covid-19 slump in sales and surgeries to reach a new record level in FY 22, but the company has not returned to what it was before the pandemic. The maker of Cochlear implants reported sales revenue grew 10 per cent in the year to…
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Blackmores group revenue up 12.8 per cent
Vitamin producer Blackmores has seen group revenue rise 12.8 percent in Fy22 to reach $649.5 million with growth across the company’s three major brands. This delivered a rise in underlying operating EBIT profit of 19 percent to $56.6 million, with margins expanding 1.1 points to 53.4 percent. CEO Alastair Symington said the company had delivered…
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Woodside Hydrogen Refueller @H2Perth project awarded $10 million grant
The Western Australian government has announced $10 million in matched funding for Woodside Energy’s proposed Hydrogen Refueller project at its H2Perth site at the company’s Rockingham Industry Zone, aiming to establish a renewable hydrogen production, storage and refuelling facility. The “Hydrogen Refueller @H2Perth” project will support the use of hydrogen-fuelled vehicles by Woodside collaborators BGC…
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To hit 82% renewables in 8 years, we need skilled workers – and labour markets are already overstretched
In coming decades, Australia will invest around A$66 billion in large-scale renewables and $27 billion in rooftop solar and battery storage. This creates openings for industry development like the $7.4 billion market opportunity for an integrated battery supply chain and manufacturing which builds on our strengths, such as wind towers.
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Ridley’s strong performance following reorganisation
Animal feed manufacturer Ridley Corporation has reported strong performance in FY22 as it emerged from the rationalisation of its Australian production sites and benefitted from its growth strategy and focus on efficiency. The company reported operating profit from ongoing operations up 16 percent to $80 million on revenue up 13 percent to $1.05 billion, navigating…
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