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9 News
a day ago
- Business
- 9 News
Long-running Aussie bakery chain to be put up for sale
Your web browser is no longer supported. To improve your experience update it here A stalwart in the Australian food industry will be put up for sale after weighing down its parent company to the tune of more than $12 million last financial year. Retail Food Group announced its 2024-25 financial results this morning, revealing it had lost $14.9 million – a far cry from the $5.8 million net profit after tax the year before – and that it is looking to sell Brumby's Bakery. The group announced in a letter to stakeholders that a divestment process is under way for the bakery chain, but there were "no guarantees it will result in an acceptable offer". Retail Food Group is looking to sell the Brumby's Bakery brand. (Brumby's Bakery/Instagram) The company plans to focus on expanding other brands under the RFG umbrella, after revealing the long-term decline of the Brumby's brand had cost the company $12.2 million last year. Brumby's opened its first store in Melbourne's east in 1975 and has hundreds of franchises across Australia and New Zealand. It was acquired by RFG in 2007. "Based on a review of our strategic growth pillars, we have announced that we are exploring options for the sale of the Brumby's Bakery business and are shifting the focus of our company store operations towards Beefy's Pies and Firehouse Subs to support their rapid expansion," RFG chief executive Matt Marshall said. Brumby's Bakery opened its first store in 1975. (Brumby's Bakery/Instagram) The group announced in February 2025 it would launch US sandwich brand Firehouse Subs in the Australian market within the next 12 months, with the hope to exceed 165 stores in the long term. Australia's largest multi-brand retail food and beverage franchise owner, RFG owns several Aussie chains including Gloria Jeans, Donut King, Beefy's Pies and Crust Gourmet Pizza. business national Australia finance money Consumer Stock Exchange CONTACT US Auto news: Honda here to stay in Australia, announces growth plans.
Business Wire
08-07-2025
- Business
- Business Wire
AEGIS Markets Seamlessly Handles Record Trading Volumes in Response to Geopolitical Activity
THE WOODLANDS, Texas--(BUSINESS WIRE)--AEGIS SEF, LLC ('AEGIS Markets'), a CFTC-regulated bilateral marketplace for commodity hedging, today announced the successful handling of record-setting trading activity during 2Q2025, driven by heightened market volatility linked to recent geopolitical events in the Middle East. 'AEGIS Markets' electronic platform executed a record number of trades,' said Andrew Furman, President of AEGIS Markets. Despite unprecedented volume and extreme price fluctuations, AEGIS Markets demonstrated resilience, efficiency, and scalability, enabling hundreds of commercial end users and dealers to execute swaps in crude oil, natural gas, and NGLs as markets fluctuated. 'AEGIS Markets' electronic platform executed a record number of trades,' said Andrew Furman, President of AEGIS Markets. 'Our platform once again proved its value, allowing commercial end users and their dealers to transact in a moment that truly mattered with greater speed, accuracy, and control than legacy methods like phone, chat or email ever could.' During the volatile 12-day conflict in the Middle East, the platform facilitated daily and monthly trading records that were previously set in 1Q, while maintaining real-time visibility, recordkeeping, auditability and control for users. 'On days like these, execution precision and operational efficiency are non-negotiable,' said Matt Marshall, President of AEGIS CTA, a registered Broker Firm on AEGIS Markets. 'The Marketplace was indispensable in enabling us to gather bids, execute trades, and service our clients with confidence and speed.' AEGIS Markets continues to expand its institutional capabilities, recently launching its Dealer Dashboard in February, which has further enhanced real-time trade monitoring, risk tracking, and position visibility for dealers. Platform growth has reached a milestone with a record of 37 active Dealers, reinforcing AEGIS Markets' growing role as the industry's preferred venue for bilateral OTC commodity trading. 'When markets are moving fast, there's no time to manually enter trades or scramble for CFTC SDR reporting compliance,' said Kwame Etwi, Manager of Operations for AEGIS Markets. 'Our straight-through processing and robust API integrations eliminate those burdens—freeing dealers to stay focused on the markets and their customers rather than manual processes.' Highlights from 2Q 2025: About AEGIS Markets AEGIS SEF, LLC d/b/a AEGIS Markets ('AEGIS'), a wholly owned subsidiary of AEGIS Hedging Solutions, LLC, is registered as a Swap Execution Facility ('SEF') under the authority of the Commodity Futures Trading Commission ('CFTC') pursuant to Section 5h (7 U.S.C. 5h) of the Commodity Exchange Act ('CEA') and Part 37 (17 C.F.R. Part 37) of the CFTC Regulations thereunder. All matters pertaining to the use of the Order Book, Request for Quotes (RFQ), or Offline Execution Functionality (OEF) of the AEGIS-SEF Platform to solicit bids/offers for, and execute, uncleared bilateral swaps are expressly subject to the rules set forth in the AEGIS-SEF Rulebook. This material is not required to be, and has not been, filed with the CFTC. Consequently, the CFTC has not reviewed or approved this material.
Yahoo
24-06-2025
- Business
- Yahoo
U.S. Oil Producers Rushed to Hedge… Just in Time
U.S. oil producers flocked to hedge higher prices for their output for the rest of the year and early into 2026 as international crude oil prices surged earlier this month. Early on June 13 local time, Israel attacked Iranian nuclear facilities and military leadership in coordinated strikes that sent oil prices surging amid concerns that an escalating conflict could disrupt oil flows from the Middle East. On the night of June 12 and the following morning, Texas-based Aegis Hedging Solutions – a company with a platform for oil producers' hedging – registered its highest-ever number of hedge trades, Aegis Hedging's president Matt Marshall told Bloomberg. U.S. shale producers, who were under-hedged going into this spring, saw a major opportunity to lock in higher prices for the next few months as WTI crude prices surged out of the high $50s - low $60s per barrel price range and hit the $75 mark last week. Oil prices had lingered into the low $60s for the three months between early April and early June, as the U.S. tariff blitz and the OPEC+ production hikes weighed on market sentiment with fears of of March, a survey by Standard Chartered of 40 independent U.S. oil and gas companies revealed they had little protection, with a 2025 oil hedge ratio of just 21% for their combined 5.03 million barrels per day (bpd) of production and a 2026 hedge ratio of just 4%. To compare, the U.S. shale industry entered 2020 with an oil hedge ratio of 51.7%, which provided significant support when oil prices collapsed during the pandemic. As of the end of 2024, independent North American oil and gas producers had more than 80% of their first-half 2025 oil production unhedged, leaving them exposed as OPEC+ supply hikes and concerns about a global recession weighed on the market, data from Evaluate Energy showed in April. Hedging activity, however, spiked on June 12-13 to a record high on the Aegis Hedging platform as producers rushed to lock in higher prices in the short term amid the geopolitics-driven jump in WTI prices. Such war premium-related spikes in oil prices tend to lift the front of the futures curve more than contracts further out in time, unlike in price jumps related to fundamentals. In the case with the Middle East conflict, the hedging strategy was geared more toward the short term, Aegis Hedging says. 'In this case it was probably a six-month effect,' Aegis Hedging's Marshall told Reuters. 'Producers recognized that this could be a fleeting issue and so they saw a price that was above their budget for the first time in a few months, and instead of doing a structure that would give them a floor which is below market, they opted to be aggressive and lock in,' Marshall added. U.S. oil and gas executives polled in the Dallas Fed Energy Survey in Q1 indicated that their companies need an average $65 per barrel to profitably drill a new well. Oil companies that hedged production probably did so just in time. The tentative ceasefire between Iran and Israel, which was announced by U.S. President Donald Trump as "complete and total," has deflated the geopolitical risk premium and brought WTI oil back to $65 per barrel, roughly the level where it traded at before the Israeli strike on Iran. By Tsvetana Paraskova for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
20-06-2025
- Business
- Mint
Oil hedging volumes hit new records as US producers rush to lock in soaring prices
Hedging activity spikes as producers lock in higher prices US crude futures jump after Israel strikes Iran Oil producers need $65 a barrel on average to profitably drill HOUSTON, - Israel's surprise attack on Iran last week had oil prices spiking which sent U.S. producers scrambling to lock in the price gain, driving record hedging volumes that will help shield them from future price swings. West Texas Intermediate crude futures rose further this week, closing on Friday at around $75 a barrel. This prompted U.S. producers to secure additional price gains through 2026, having already driven hedging activity on the Aegis Hedging platform to a record high last Friday. Aegis Hedging, which handles hedging for roughly 25-30% of U.S. output, according to internal estimates, saw a record volume and greatest number of trades done on its trading platform on June 13. The U.S. produces some 13.56 million barrels per day of oil, according to the latest government figures. U.S. crude futures jumped 7% on June 13 to around $73 a barrel, after Israel struck Iran, the largest single day rise since July 2022. Prices had been hovering under where many producers would opt to hedge, hitting a four-year low of $57 a barrel in May as OPEC started hiking output while U.S. President Donald Trump waged a trade war. The jump on June 13 gave traders an opportunity to lock in prices for their barrels not seen in several weeks. When prices react to risk-related events - such as Israel's attack on Iran - as opposed to supply-and-demand fundamentals, the front of the oil futures curve rises more than later contracts, influencing whether producers opt for short- or long-term hedging strategies, according to Aegis Hedging. "In this case it was probably a six-month effect," said Matt Marshall, president of Aegis Hedging. Oil producers need a price of $65 a barrel on average to profitably drill, according to the first quarter 2025 Dallas Federal Reserve Survey. U.S. crude futures closed below $65 every day from April 4 to June 9, according to LSEG. "We stay disciplined and pay close attention to market volatility. We watch for accretive pricing to our existing hedges and layer in hedges to reduce risk to our asset revenue as well as meet our reserve-based lending covenants," said Rhett Bennett, chief executive at Black Mountain Energy, a producer with operations in the Permian Basin. A reserve-based lending covenant refers to a type of loan producers can obtain, based on the value of the company's oil and gas reserves. "Producers recognized that this could be a fleeting issue and so they saw a price that was above their budget for the first time in a few months, and instead of doing a structure that would give them a floor which is below market, they opted to be aggressive and lock in," said Aegis' Marshall. Aegis' customers often have hedging policies in which a certain amount of production must be hedged by a certain time in the year. "Producers had two months of hedges that they needed to catch up on," Aegis' Marshall said. Traders on June 13 exchanged the most $80 West Texas Intermediate crude oil call options since January on the Chicago Mercantile Exchange, expecting more upside to prices. A total of 33,411 contracts of August-2025 $80 call options for WTI crude oil were traded that day on a total trading volume of 681,000 contracts, marking the highest volume for these options this year, according to CME Group data. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
16-06-2025
- Business
- Bloomberg
Oil Price Surge Sparks Burst of Hedging Among Shale Drillers
The surge in oil futures spurred by the initial missile attacks in the Middle East last week triggered a wave of hedging by producers seeking to lock in the higher prices, keeping some traders up late into the night. AEGIS Hedging Solutions LLC, a Woodlands, Texas-based firm that helps about 350 oil producers with hedging, handled the largest volume and greatest number of trades in its history on the night of June 12 after Israel struck nuclear sites across Iran, according to President Matt Marshall. Trades lasted until 11 p.m. that night and resumed at 7 a.m. the following day, he said.
