National Australia Bank Ltd
(ASX:NAB) CEO Cameron Clyne has today announced that Peter Thodey as been appointed to the new role of executive general manager of specialised group assets, affective from September 1.
The new role is solely dedicated to managing the professional and orderly exit from the discontinued businesses that sat within nabCapital.
The bank says that as Peter will be based in London, and his exclusive focus will be on this portfolio, he will step down from the group executive committee.
NAB says Colleen Harris will become executive general manager of human capital strategy and will assume Peter’s current responsibilities in addition to her existing portfolio. NAB’s 2008 net profit remained relatively unchanged from the year before.
Construction company Leighton Holdings Ltd (ASX:LEI) has won a contract worth US$381 million at the Khalifa Port and Industrial Zone, by the Abu Dhabi Ports Company.
Leighton subsidiary Al Habtoor Leighton Group will carry out the scope of work which includes the construction of the on-shore port facilities which involves the construction of 47 buildings and associated infrastructure works.
Leighton says work has already commenced and the project is due for completion by September 2011.
Managing director of the Al Habtoor Leighton Group, David Savage says Abu Dhabi continues to offer strong new work prospects, particularly in large-scale infrastructure, and it is likely to be the group’s most important market for the foreseeable future.
And looking back over the company’s profits, Leighton Holdings 2008 net profit was its best in five years.
Waste management company Transpacific Industries Group Ltd (ASX:TPI) says it now expects operating profit in fiscal 2009 to be nine per cent lower than fiscal 2008.
Earnings before interest, tax, depreciation and amortization, is expected to be approximately $447 million.
Transpacific says reported earnings before interest, tax, depreciation and amortization is expected to be around $455.7 million, including $8.7 million in profit from its purchase of Transpacific convertible notes reported in the company’s first half results.
The company forecast a 25 per cent decline in earnings for the second half of this year from $255.7 million recorded in the first half.
With profit in the second half impacted by significant items and one-off charges of around $210.3 million.
Transpacific Industries Group’s profits have been increasing year on year for the past four years.
