Thursday 19 February 2009

Region. Record for new industrial supply

Last year represented a record in the level of new supply in Sydney’s industrial markets, predominantly delivered in the outer and south-west regions, according to Knight Frank’s Sydney Industrial Market report. The level of new supply in 2009 is forecast to be considerably lower than in 2008, with a significant proportion of scheduled projects deferred as their commencement date draws near. Sales activity declined across all Sydney regions during the second half of 2008 as investor sentiment was negatively affected by the downturn in the economic outlook. Sales activity over the last two quarters of the year was 76.54 per cent lower than the average level of activity in the corresponding periods since 2004

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Kings Park. Retailer's margins are thinner

The women’s fashion retailer, Noni B, at Kings park, said same store sales in the second half so far were ahead of a year ago, although margins were thinner. The company posted a first half net profit of $2.5 million, down from the $5.5 million it booked a year ago. First half revenue eased to $64.1 million, compared with $68.9 million a year ago, The Australian Financial Review reported.

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Camden. AGL has 90 per cent of shares

AGL, which announced a takeover bid for Sydney Gas Limited, a coal seam gas explorer at Camden now owns 94.5 per cent of the company’s shares and intends acquiring all of the remaining shares when its takeover offer expires on February 24.

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Rooty Hill. OneSteel cuts production

OneSteel, a steelmaker and iron ore miner, has announced a further 150,000 tonnes of fourth-quarter production cuts from its electric arc furnaces at Rooty Hill and Laverton, in Victoria, adding to a 300,000-tonne reduction announced in January, as the company braces for the current national downturn to worsen, said The Australian.

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Westmead. Hospitals to cut duplication

Ernst and Young will conduct a review into the duplication of corporate services between The Children’s Hospital at Westmead. and the adjacent Westmead Hospital in a bid to finding savings which could be gained through shared administration and running costs Following the review, an implementation plan will be completed by March.

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