Latest news with #AndrewTobin
ABC News
09-07-2025
- Business
- ABC News
Good weather leads to bountiful Spanish mackerel in Gulf of Carpentaria
After two years of disappointing catches, a bountiful Spanish mackerel season is underway in the Gulf of Carpentaria, and fishermen say it is good news for consumers. Fishers have struggled through two consecutive years of natural disasters, reducing the numbers of the popular fish. "It'll be a good one finally, particularly after a couple of years of floods in the Gulf," seafood retailer and commercial fisherman Andrew Tobin said. The good news for consumers, Mr Tobin said, was that prices would be stable, making the fish an affordable choice for local seafood lovers. "What you've been paying at the fish and chip shop or down at your local cafe or restaurant is unlikely to change much in the mackerel space," he said. Trawling the waters off the outback epicentre of fishing, Karumba, 400 kilometres north of Mount Isa, Mr Tobin said the quality of the fish this year was also good. "We operate in quite an isolated area, so the boats are very well equipped for looking after the fish really well," he said. "Processed on board, snap frozen to lock in that beautiful freshness that comes with wild-caught mackerel." Unlike on the east coast, Spanish mackerel fishers in the Gulf are not limited by catch quotas, but there are spawning closures that restrict when they can fish. Queensland Seafood Industry Association president Allan Bobbermen said losing access to the fishery for two to three weeks at the peak of the season did impact profitability, but he remained optimistic about the current season. "The evidence is there pointing towards an abundance of fish," he said. While the east coast fishery was popular, Mr Bobbermen said this season many operators chose to go to the Gulf instead. "We've had floods along the east coast of Queensland, unusual rainfalls, and I think that has changed the breeding habits of the fish," he said. Mr Bobbermen said even as the cost of living and comparative price of seafood squeezed consumer budgets, Spanish mackerel remained a favourite. "There's never any buyer resistance to wild-caught Spanish mackerel," he said. Karumba charter business owner Jemma Probert said the late wet season might keep the mackerel season going for longer than usual. "Barramundi held on a lot longer because we had that really late wet, which meant that your Spanish mackerel is late," she said. The season officially started for commercial fishers last week, but recreational fishers often see young mackerel in the Gulf as early as May. Ms Probert said she had already reeled in some cracker catches, and there were blue skies ahead for the season. "It will be a popular season."
Yahoo
13-02-2025
- Business
- Yahoo
ASX Ltd (ASXFF) (H1 2025) Earnings Call Highlights: Record Revenue and Strategic Advancements ...
Release Date: February 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. ASX Ltd (ASXFF) delivered record operating revenue for the first half, up 5.9% compared to the previous year. Underlying net profit after tax increased by 10.1%, driven by growth in net interest income. The company declared a fully franked interim dividend of $111.02 per share, reflecting a payout ratio of 85% of underlying impacts. ASX Ltd (ASXFF) made significant progress in its technology modernization program, with several project rollouts planned for the remainder of FY25. The company's balance sheet remains strong, with access to various funding sources, including a $300 million corporate debt facility and a $275 million corporate bond. Total expenses for the period were $220.3 million, reflecting a 0.2% decrease, but future expense growth is expected to be between 6% and 9%. The company incurred a significant item related to an onerous lease provision, impacting statutory net profit after tax. Electricity derivatives trading activity was down due to lower volatility in electricity prices, affecting revenue. ASX Ltd (ASXFF) faces regulatory challenges, including an ASIC investigation into a chess batch settlement incident. The company anticipates higher expenses in the second half of FY25 due to increased equipment costs and depreciation and amortization. Warning! GuruFocus has detected 7 Warning Signs with ASXFF. Q: Can you explain the discrepancy between the 20% increase in futures volumes and the 10.5% increase in revenues? A: Helen Lofthouse, CEO: The slower revenue growth is due to a change in product mix. The rates products, which have lower price points, saw strong growth. This affected the average fee due to product and cost mix, as well as rebates. Q: How should shareholders evaluate cost growth given the significant increase in CapEx and other expenses? A: Andrew Tobin, CFO: The onerous lease provision is a one-off item due to early lease termination. Despite this, we maintained flat cost growth compared to last year, focusing on workforce optimization and strategic procurement. Q: Is the decline in electricity derivatives revenue due to seasonality or other factors? A: Helen Lofthouse, CEO: The decline is primarily due to lower volatility in electricity prices, though there is some seasonality. We expect the electricity market to grow due to ongoing electrification. Q: With the first half costs being lower, are you expecting to hit the top or bottom end of your guidance for the second half? A: Andrew Tobin, CFO: We are comfortable with our guidance range of 6-9% expense growth. Known factors like depreciation and technology investments will increase costs in the second half, but we are not refining guidance yet. Q: Can you discuss the revenue opportunity for the new debt market activity services? A: Helen Lofthouse, CEO: While we have forecasts, we will share more as they become material. The service launches in the second half, but significant revenue impact is not expected immediately. Q: Are there any headwinds from potential policy changes in clearing and settlement services? A: Helen Lofthouse, CEO: The pricing policy for cash equities clearing and settlement services is being formalized. We don't expect material revenue impact, but it will continue to constrain pricing flexibility. Q: Can you elaborate on the spread increase from 10 to 15 basis points for participant balances? A: Andrew Tobin, CFO: The increase is due to emerging opportunities as interest rates and curves move. The spread is not locked in and depends on market conditions. Q: How is ASX positioned in terms of funding for its capital profile? A: Andrew Tobin, CFO: We have significant funding flexibility with retained earnings, a $275 million corporate bond, a $300 million undrawn bank facility, and a $60 million equipment financing lease. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
13-02-2025
- Business
- Yahoo
ASX Ltd (ASXFF) (H1 2025) Earnings Call Highlights: Record Revenue and Strategic Advancements ...
Release Date: February 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. ASX Ltd (ASXFF) delivered record operating revenue for the first half, up 5.9% compared to the previous year. Underlying net profit after tax increased by 10.1%, driven by growth in net interest income. The company declared a fully franked interim dividend of $111.02 per share, reflecting a payout ratio of 85% of underlying impacts. ASX Ltd (ASXFF) made significant progress in its technology modernization program, with several project rollouts planned for the remainder of FY25. The company's balance sheet remains strong, with access to various funding sources, including a $300 million corporate debt facility and a $275 million corporate bond. Total expenses for the period were $220.3 million, reflecting a 0.2% decrease, but future expense growth is expected to be between 6% and 9%. The company incurred a significant item related to an onerous lease provision, impacting statutory net profit after tax. Electricity derivatives trading activity was down due to lower volatility in electricity prices, affecting revenue. ASX Ltd (ASXFF) faces regulatory challenges, including an ASIC investigation into a chess batch settlement incident. The company anticipates higher expenses in the second half of FY25 due to increased equipment costs and depreciation and amortization. Warning! GuruFocus has detected 7 Warning Signs with ASXFF. Q: Can you explain the discrepancy between the 20% increase in futures volumes and the 10.5% increase in revenues? A: Helen Lofthouse, CEO: The slower revenue growth is due to a change in product mix. The rates products, which have lower price points, saw strong growth. This affected the average fee due to product and cost mix, as well as rebates. Q: How should shareholders evaluate cost growth given the significant increase in CapEx and other expenses? A: Andrew Tobin, CFO: The onerous lease provision is a one-off item due to early lease termination. Despite this, we maintained flat cost growth compared to last year, focusing on workforce optimization and strategic procurement. Q: Is the decline in electricity derivatives revenue due to seasonality or other factors? A: Helen Lofthouse, CEO: The decline is primarily due to lower volatility in electricity prices, though there is some seasonality. We expect the electricity market to grow due to ongoing electrification. Q: With the first half costs being lower, are you expecting to hit the top or bottom end of your guidance for the second half? A: Andrew Tobin, CFO: We are comfortable with our guidance range of 6-9% expense growth. Known factors like depreciation and technology investments will increase costs in the second half, but we are not refining guidance yet. Q: Can you discuss the revenue opportunity for the new debt market activity services? A: Helen Lofthouse, CEO: While we have forecasts, we will share more as they become material. The service launches in the second half, but significant revenue impact is not expected immediately. Q: Are there any headwinds from potential policy changes in clearing and settlement services? A: Helen Lofthouse, CEO: The pricing policy for cash equities clearing and settlement services is being formalized. We don't expect material revenue impact, but it will continue to constrain pricing flexibility. Q: Can you elaborate on the spread increase from 10 to 15 basis points for participant balances? A: Andrew Tobin, CFO: The increase is due to emerging opportunities as interest rates and curves move. The spread is not locked in and depends on market conditions. Q: How is ASX positioned in terms of funding for its capital profile? A: Andrew Tobin, CFO: We have significant funding flexibility with retained earnings, a $275 million corporate bond, a $300 million undrawn bank facility, and a $60 million equipment financing lease. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
