Latest news with #Australasia
The Herald
11 hours ago
- Business
- The Herald
Harmony's $1bn (R18bn) copper deal a 'sweet spot' for the company
South Africa's biggest gold producer Harmony Gold estimates that by the 2035 financial year, 45% of its production will come from Australasia after agreeing to buy Australia's Mac Copper for $1bn (R18.42bn). The MAC Copper acquisition is its second foray into copper after buying the Eva Copper project in Queensland in 2022, a mine that is likely to produce up to 60,000 tonnes of the metal a year from 2029. CEO Beyers Nel said MAC Copper's CSA Copper mine in New South Wales, which produces 40,000 tonnes of the metal a year, represented a 'sweet spot' for the group. 'There is a scramble for copper mines in the market at the moment, people pay top dollar. But we believe because this mine is a deeper mine — it is more of a mine that suits Harmony's skills set — it potentially kept other bidders out of the mine. 'It is too big for the juniors and probably too small for the majors. The 40,000 tonnes of copper from a size point of view is ideal and a sweet spot for a company like Harmony to take it. It is production from day one because it is an operating mine. It is also in a tier-one mining jurisdiction; New South Wales in Australia is a good place to mine,' said Nel. Nel said the shift enhanced profitability, reduced geographical concentration risks, and positioned Harmony to deliver sustainable long-term returns. He said the mine also presented near-term copper into Harmony's production mix as opposed to its Eva project in Australia and Walfi-Golpu, a gold/copper project in Papua New Guinea (PNG) it jointly owns with Newmont Corp. He said the Walfi-Golpu project had been frustratingly slow. However despite violence at Barrick Gold Corporation's Porgera Gold Mine in Papua New Guinea's Enga province, the area was calm. 'I would not say there are problems there. It is calm. People sometimes throw one blanket over Papua New Guinea and think what is happening at Porgera with Barrick is happening everywhere in Papua New Guinea. That is not the case. Where our mine is, things are calm and the communities are supportive of the mine,' he said. The Harmony share traded 6% lower after the announcement this week. Nel said the market still needs to digest the deal. 'It is still $1bn, it's a lot of money. It is typical that when a big transaction takes place that the buying company's share price comes under pressure. 'We are not fixated about the day trade, we think this is a good asset for Harmony's skills set and we can add a lot of value to it, there is a lot of blue sky, upside potential beyond the current mine life. We are very bullish about the copper price long term. if you think about the global energy transition and supply and demand. We need to look at the long-term perspective.' TimesLIVE
News.com.au
22-05-2025
- Business
- News.com.au
Inside Kamala Harris' wild card Aussie gig
Former US presidential candidate Kamala Harris is headed to the Glitter Strip as the wild card headline speaker for a property conference, prompting heightened security measures for the 4000 real estate agents attending the annual event. Harris, the Democrat's 2024 candidate who lost to Republication president Donald Trump in November, will take the stage at the two-day Australasian Real Estate Conference (AREC) in her first speaking engagement in Australia. While organisers have hailed the engagement a coup, Harris will be accompanied by a full security detail, with every guest to be screened and scanned by either US Secret Service or venue staff. Harris, who served as the 49th Vice President of the United States and is considered a potential contender for California's next governor, was described as a 'trailblazer' in AREC's promotional material. But her announcement as keynote for the Aussie property fest at the Gold Coast Events Convention and Exhibition Centre on Sunday has drawn mixed reactions. Some commenters have referenced Harris' 'word salad' style of indirect answers during the presidential campaign and at international speaking engagements since then. Delegate numbers are also down by about one-fifth from last year's sellout crowd of 5000. AREC organisers would not disclose Harris' fee for participating in a moderated conversation, while delegates will pay between $995 to $1,695 for a two-pass including access to the main arena where she will appear. Harris will be one of 32 speakers, including Buying in Beverly Hills star Mauricio Umansky, entrepreneur Steven Bartlett, sports coach and mentor Tim Grover and Aussie swim sensations Emma McKeon and Ariarne Titmus. The swimming golden girls will address the audience on mental toughness and overcoming setbacks, the role of teamwork and support systems and how to turn competition into motivation. 'We have always had a reputation for delivering the highest quality and sought after speakers, making it the standout event in the southern hemisphere for our industry. This year's line-up has surpassed our expectations,' founder John McGrath said. Mr Umansky, who founded The Agency and starred on Real Housewives of Beverly Hills, will be the keynote speaker on day two of the conference and will share his secrets around topics such as personal branding, building and maintaining client relations, negotiating skills and selling luxury real estate. 'Mauricio will bring a wealth of knowledge in managing high performing teams as he has built an iconic personal brand across the competitive markets of Los Angeles, Miami and New York,' Mr McGrath said.
Medscape
21-05-2025
- Health
- Medscape
Skin Cancer Burden Highest in Older Men, Rich Countries
In 2021, skin cancer affected millions of older adults globally. Basal cell carcinoma (BCC) had the highest incidence, while squamous cell carcinoma (SCC) accounted for the greatest disability burden, and men and high sociodemographic index (SDI) countries, especially in Australasia and North America, bore a disproportionate share of cases and deaths. METHODOLOGY: Researchers analyzed data from the Global Burden of Disease Study 2021 database covering 204 countries from 1990 to 2021. The analysis included age-standardized rates (ASRs) of prevalence, incidence, deaths, and disability-adjusted life years (DALYs) per 100,000 population associated with skin cancer among adults aged 65 years or older. Disease burden was stratified by sex, age, year, and SDI. TAKEAWAY: In 2021, there were an estimated 153,993 new cases of melanoma, 1,463,424 of SCC, and 2,802,354 of BCC. BCC had the highest incidence rate (ASRs, 371.97), whereas SCC exhibited the highest prevalence (ASR, 236.91) and DALYs (ASR, 95.50). Men had a higher incidence than women, and population growth was the major driver of the increasing disease burden. The highest ASRs of melanoma incidence (158.10), prevalence (1165.26), deaths (27.83), and DALYs (502.22) were reported in Australasia. North America had the highest incidence and prevalence rates for keratinocyte carcinoma (KC). Australasia also recorded the highest SCC-related deaths (ASR, 15.37) and DALYs (ASR, 226.92). The highest BCC-related DALY rate (ASR, 1.21) was observed in North America. Melanoma-related death rates were more than five times higher in high SDI countries (ASR, 9.49) than in low-middle to middle SDI countries. Despite high SDI levels, the United States, Greenland, Sweden, and Switzerland had disproportionately high BCC-related DALY rates, while New Zealand, Australia, Norway, North Macedonia, and Slovenia had higher-than-expected melanoma-related DALY rates. IN PRACTICE: 'The findings of this study suggest that the global disease burden of skin cancer in adults 65 years or older is on the rise, particularly among male individuals and in countries with a high SDI level,' the study authors wrote. 'Our results underscore the urgency to enact prevention and treatment strategies tailored to high-risk older populations.' SOURCE: This study was led by Ruiyao Wang, MD, Department of Dermatology, The First Affiliated Hospital of Chongqing Medical University in Chongqing, China, and was published online on May 21 in JAMA Dermatology . LIMITATIONS: Limitations included underreporting of KC in major cancer registries, reliance on modeled estimates for countries with limited data, and the absence of race and ethnicity data. DISCLOSURES: This study received support from the National Natural Science Foundation of China and Chongqing Science and Technology Commission. The authors did not report any conflicts of interest.
Yahoo
20-05-2025
- Business
- Yahoo
Serko Ltd (ASX:SKO) Full Year 2025 Earnings Call Highlights: Strong Income Growth and Strategic ...
Total Income: Increased by 27% to $90.5 million. Pre-Acquisition Business Income: Grew by 20% to $85.7 million. Free Cash Flow (Pre-Acquisition Business): Improved by $14.5 million to $7.4 million. Operating Expenses: Increased by 20% to $107.6 million. Total Spend: Increased by 10% to $92.7 million. EBITDAFI: Improved by $4.3 million to positive $2.8 million. Non-Cash Accounting Impairment: Reported at $5.1 million. Cash and Short-Term Deposits: $61.4 million with no debt. Completed Room Nights (CRNs): Grew by 29% to 3.3 million. Australasian Travel Revenue: Increased by 18%. FY26 Income Expectation: Between $115 million and $123 million. FY26 Total Spend Expectation: Between $127 million and $133 million. Warning! GuruFocus has detected 3 Warning Signs with ASX:SKO. Release Date: May 19, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Serko Ltd (ASX:SKO) achieved a 27% increase in total income to $90.5 million, driven by the integration of GetThere and growth in for business. The company generated $7.4 million in free cash flow from its pre-acquisition business, marking a significant improvement of $14.5 million year over year. for business saw a 29% year-over-year increase in active customers and completed room nights, indicating strong platform adoption. Serko Ltd (ASX:SKO) has a strong balance sheet with $61.4 million in cash and no debt, providing a solid foundation for future investments. The company is well-positioned to capture growth opportunities in the North American market, leveraging its strategic partnership with Sabre and the acquisition of GetThere. Operating expenses increased by 20% to $107.6 million, primarily due to lower capitalization and costs associated with the GetThere acquisition. Serko Ltd (ASX:SKO) reported a non-cash $5.1 million accounting impairment related to the GetThere acquisition, impacting financial results. The company experienced a temporary dip in conversion rates for for business in early Q4, although this was later addressed. Revenue contribution from the North American market is expected to remain modest in FY26, with some volume impact from US government policies. The integration of GetThere resulted in higher cash outflows for onboarding expenses, which are not expected to recur in FY26. Q: Could you talk about the growth in for business, particularly around customer acquisition and the source of customer growth? A: Darrin Grafton, CEO: The growth is driven by continuous experimentation in marketing messages and platform functionality. We are seeing strong top-of-the-funnel activity, with substantial improvements in customer acquisition processes. Shane Sampson, CFO: The customer mix remains consistent, with a significant proportion from Europe. We are seeing reduced churn and stronger new customer additions. Q: Can you provide a breakdown of the total spend between OpEx and CapEx for FY26? A: Shane Sampson, CFO: We estimate around $10 million for CapEx, with a conservative approach to capitalization. Most of the CapEx will be related to new platform development, estimated at $7 to $8 million. Total CapEx is expected to be around $10 to $12 million. Q: Could you clarify the income guidance for next year, especially regarding GetThere and the volume tier for for business? A: Shane Sampson, CFO: We expect to hit the volume tier in the first half of FY26, with modest impact on average revenue per completed room night. For GetThere, revenue is expected to be below $18 million but still in double-digit millions in New Zealand dollars. Q: What are your expectations for the ANZ business in terms of average revenue per booking (ARPB) and volume? A: Shane Sampson, CFO: We expect ARPB to be slightly below $6 due to a commercial opportunity that reduces costs and revenue. We anticipate relatively flat volume and revenue for ANZ, with no significant reductions observed despite industry commentary. Q: Can you discuss the integration and platform development for managed travel, and when do you expect the unified experience to be live? A: Darrin Grafton, CEO: We are focusing on platform spend and operational synergies. We aim to accelerate platform development with the right teams in place. Shane Sampson, CFO: We expect to spend $14 million on the platform, with flexibility to adjust as needed. The new managed travel experience is in development, but specific details and timelines are not disclosed at this time. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
RNZ News
19-05-2025
- Business
- RNZ News
Serko lifts income, bottom-line loss increases
Serko handles corporate travel management and expenses, and operates the for Business platform. Photo: Unsplash Travel software company Serko has lifted its income thanks to its partnership with global giant while its bottom-line loss deepened largely due to one-offs. Key numbers for the 12 months ended March compared with a year ago: Serko said the result was driven by ongoing demand and growth from for Business, with completed room nights and active customers both increasing 29 percent. Serko reported higher forward exchange contract losses and a $5.4 million non-cash accounting write-down, driving down its bottom-line. The company said its Australasian business was "solid", and included $4.8m of income from the acquisition of online booking platform GetThere. "Our pre-acquisition business generated positive free cash flow for FY25 of $7.4m, an improvement of $14.5m," chief executive Darrin Grafton said. "Serko is pursuing new growth, supported by targeted investment in its platform and North American expansion," he said. "We are in a strong position to do this, with continued income growth, cost discipline and an increase in our capability, including in data and AI." Serko forecast full-year income in 2026 to be between $115m to $123m, driven by its for Business earnings. It expected total spending to be between $127m to $133m. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
