Latest news with #Burson
West Australian
3 hours ago
- Automotive
- West Australian
Bapcor shares fall on weaker-than-expected sales, board exodus
Shares in Bapcor have shed nearly 30 per cent after the Autobarn owner revealed its second-half trading performance was weaker than expected in May and June. It has also been rocked by the shock exit of three board directors with explanation. The vehicle parts and accessories group — also behind the Burson, Autopro and Midas brands — blamed its weak second half on several factors, including significant disruption in the specialist wholesale segment due to consolidation of activities involving three businesses into its new Auto Electrical Group. In a trading update on Thursday, the group also said it continued to face a challenging retail environment, including lower spending on discretionary categories, competitor activity and changes to its promotional cycle. The group expects pro-forma net profit — which excludes one-off items — to come in between $81 million and $82m in the 2025 financial year, compared with the $94.8m reported the previous year. Revenue is likely to be 1.4 per cent lower to $1.94 billion. However, statutory net profit is forecast to come in between $31m and $34m, a turnaround on its $158.3m loss in the prior corresponding period. This followed a 'comprehensive review' of the company's balance sheet, which identified $43.3m to $45.3m in unaudited post-tax significant items in the second half, in addition to $4.7m recognised during the half-year. Bapcor shares were 28.6 per cent lower, or $1.46, to $3.65 just after 11am. Bapcor executive chair Angus McKay said significant work had been undertaken during the year to simplify the business, including 45 sites that have either moved or closed. 'These changes were disruptive but necessary as we strive to simplify operations to set us up into the future,' Mr McKay, former 7-Eleven Australia boss, said. 'The second-half trading result was also impacted by the continued challenging Australian retail environment and economic conditions in New Zealand.' At the same time, Bapcor also announced Mark Bernhard, Brad Soller and James Todd had resigned as directors. No reason was provided for the sudden departures, but Mr McKay thanked the directors for their service. Bapcor said a board refresh process was now being 'accelerated'. RBC Capital Markets analyst Jack Lynch said it was a 'challenging update' for Bapcor with soft trading performance across all segments. 'Analyst focus on the call will be on the trading outlook across segments, reasons for board changes and how recent balance sheet changes impact leverage ratios,' he said.
USA Today
4 days ago
- Sport
- USA Today
49 days till the Arizona Cardinals' 2025 season opener: Who has worn No. 49?
With 49 days till the Cardinals open the season against the Saints, we look at the players who have worn No. 49. We are counting down to the start of the 2025 regular season for the Arizona Cardinals and are exactly seven weeks away. They will open the season on the road against the New Orleans Saints on Sept. 7. That is 49 days away. As we count down the remaining days of the offseason, let's look at who has worn that number uniform over the years for the Cardinals. Who has worn No. 49? Cardinals players to wear No. 49 Outside linebacker Benton Whitley, added late last season, currently wears No. 49. It hasn't been used much. Burson was good. Kiesling is actually a Hall of Famer. Get more Cardinals and NFL coverage from Cards Wire's Jess Root and others by listening to the latest on the Rise Up, See Red podcast. Subscribe on Spotify, YouTube or Apple podcasts.
The Market Online
03-07-2025
- Business
- The Market Online
More Than 1 in 4 Canadian renters considered buying before signing current lease
54 per cent of renters in Canada say they plan to purchase a property in the future; nearly one third of whom plan to buy within the next two years. Nationally, 28 per cent of renters say they considered purchasing a property prior to signing or renewing their current rental agreement; 40 per cent are waiting for home prices to decline and 29 per cent are waiting for further interest rate cuts. More than half of tenants in Canada (52 per cent) spend more than 30 per cent of their net income on rental payments Royal LePage stock (TSX:BRE) last traded at C$14.81 This content has been prepared in collaboration with Royal LePage, a third-party issuer, and is intended for informational purposes only. As interest rates begin to ease and housing inventory grows across Canada, a new survey reveals that more than one in four renters (28 per cent) considered purchasing a home before signing or renewing their current lease. The findings, released by Royal LePage (TSX:BRE) and conducted by Burson, highlight a shifting real estate landscape where affordability is improving—but renters remain cautious and strategic. The survey, which polled 1,854 Canadian renters, found that while many are eyeing homeownership, a significant portion are holding off for now. Among those who opted to rent instead of buy, 40 per cent said they are waiting for property prices to decline, 29 per cent are hoping for further interest rate reductions, and 28 per cent are renting to save for a down payment. Waiting in the wings Despite current hesitations, more than half of renters (54 per cent) say they plan to buy a home in the future. Sixteen percent aim to do so within the next two years, while 21 per cent are targeting a purchase within two to five years. However, 31 per cent of renters say they have no plans to buy at all. Among them, 53 per cent cite insufficient income to afford homes in their desired neighborhoods, 40 per cent say renting is more affordable, and another 40 per cent prefer to avoid the responsibilities of homeownership. Rental prices easing, but affordability still a challenge Rental prices, which surged in 2022 amid rising mortgage costs, have been on a downward trend in recent months. According to the latest National Rent Report by and Urbanation Inc., the average rent for a one-bedroom unit in Canada dropped 3.6 per cent year-over-year to $1,857 in May 2025. Two-bedroom units saw a 4.6 per cent decline, averaging $2,225. Still, affordability remains a pressing issue. Rents are 5.7 per cent higher than two years ago and 12.6 per cent higher than three years ago. Over the past five years, average asking rents have increased by 4.1 per cent annually outpacing wage growth. The financial strain is evident: 37 per cent of renters spend between 31 per cent and 50 per cent of their net income on rent, while another 15 per cent spend more than half. To cope, 40 per cent have cut back on groceries, 30 per cent have reduced savings contributions, 21 per cent are accumulating credit card debt, and 20 per cent have taken on second jobs or side hustles. Policy and the path forward Housing affordability remains a top concern for Canadians and a key focus for the newly elected federal government. Promised measures include boosting housing construction, simplifying development approvals, and offering financial incentives like GST breaks for first-time buyers. When asked which policies would most improve rental affordability, 56 per cent of renters supported building more affordable housing, 47 per cent favored stronger tenant protections, and 42 per cent called for stricter rent control. The survey, conducted online between June 2 and June 9, 2025, included a robust sample from major cities and provinces across Canada. While the data offers valuable insights, it is based on a non-probability sample and does not carry a margin of error. As the housing market continues to evolve, renters across Canada are weighing their options carefully balancing hope, strategy, and financial reality in their pursuit of homeownership. Royal LePage is a provider of services to real estate brokerages, with a network of approximately 20,000 real estate professionals in over 670 locations nationwide. Royal LePage stock (TSX:BRE) last traded at C$14.81. Join the discussion: Find out what everybody's saying about this stock on the Royal LePage Bullboard, and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein.
Hi Dubai
24-06-2025
- Business
- Hi Dubai
UAE Set to Lead Middle East FinTech Growth, Reveals FinTech 2025 Industry Report by Emirates NBD and PwC
Emirates NBD has launched its 2025 report, From Code to Capital: The UAE's FinTech Revolution, spotlighting the country's rapid rise as a regional FinTech powerhouse. Released in collaboration with PwC and previewed at the Dubai FinTech Summit, the report outlines key trends shaping the sector, including digital adoption, AI integration, and a surge in venture capital investment. According to the report, UAE FinTech startups attracted $265 million in funding in 2024—accounting for nearly one-third of the country's total startup capital. The sector is forecast to grow from $3.16 billion in 2024 to $5.71 billion by 2029, fueled by supportive regulation, public-private partnerships, and increasing consumer demand. Neeraj Makin, Group Head of Strategy at Emirates NBD, said the funding reflects investor confidence and positions the UAE to become a leading destination for FinTech innovation. The report points to a mature ecosystem backed by diverse talent, scalable infrastructure, and a clear pathway for startup exits. The study also underscores the role of artificial intelligence in reshaping financial services, from personalised offerings to enhanced risk management. Emirates NBD's own AI-driven transformation has improved efficiency and operational control. Miguel Rio-Tinto, the bank's Chief Digital and Information Officer, noted that collaboration between traditional banks and startups—through open APIs and innovation sandboxes—is vital for sustained progress. PwC's Stephen Anderson highlighted the UAE's position at the forefront of financial transformation, driven by strategic vision and technological advancement. News Source: Burson
Calgary Herald
19-06-2025
- Business
- Calgary Herald
More than half of Canadian renters eager to buy a home: Royal LePage
Article content More than half of Canadian renters are eager to buy a home, and the conditions for doing so have improved as interest rates decline, supply increases and affordability improves in many markets across the country. Article content Still, many would-be buyers are holding out for interest rates and prices to drop further before jumping into the market. Article content Article content A recent Royal LePage survey conducted by Burson said that 54 per cent of renters plan to buy property in the future, 16 per cent are planning to do so in the next two years and 21 per cent plan to buy in the next two to five years. Article content Article content 'We continue to see that many tenants are motivated to get a foot on the property ladder. In Canada's least affordable cities, entry-level opportunities have improved significantly, with home prices off last year's peaks, incomes up and borrowing costs trending lower,' Phil Soper, chief executive of Royal LePage, said in the report. Article content Article content While 28 per cent of Canadians who currently rent said they considered buying a property before signing or renewing their current lease, there are a few things keeping them on the sidelines. Article content Asked what factors influenced their decision to keep renting (respondents could choose more than one answer), 29 per cent said they were waiting for interest rates to lower and 40 per cent said they're waiting for property prices to decline. Article content 'History suggests they may be disappointed,' Soper said. 'Over the past 75 years, Canadian home values have risen approximately five per cent annually, running consistently ahead of inflation. The window of opportunity may be narrower than it appears, and strategic buyers are beginning to move.' Article content Article content Of those who currently rent, 28 per cent said they are working towards buying a property and continuing to rent allows them to save up for a down payment. Article content Article content Even in a softening market, affordability remains a long-term challenge for renters. Rents have declined for eight consecutive months, but, according to the report, asking prices have risen by an average of 4.1 per cent annually over the past five years, outpacing wage growth. Article content Across Canada, 15 per cent of tenants said they spend more than 50 per cent of their net income on rental payments. Atlantic Canada had the highest number of respondents who spend more than half of their net income on rent, at 31 per cent, followed by British Columbia (23 per cent), Alberta (18 per cent) and Ontario (15 per cent). Article content But homeownership isn't a goal for everyone. Overall, 31 per cent of renters said they don't plan to buy a home. For many respondents, who could pick more than one answer, the decision is financially motivated.
