http://www.news.com.au/business/money/story/0,28323,26288344-5016110,00.html
THE Reserve Bank is expected to lift interest rates on Tuesday adding $50 to the average monthly home loan repayment amid warnings the number of defaulters is set to surge.
For the first time, the bank will announce its latest decision on rates on Melbourne Cup day at 2.30pm - half an hour before the race on which Australians bet more than $100 million each year, The Sunday Telegraph reports.
Most financial experts are tipping a rise in the official cash rate of 0.25 per cent, but some economists said the rise could be 0.50 per cent - meaning a $100 increase in repayments on a $300,000 loan.
The news will be a hammer blow for many families struggling with repayments, with thousands predicted to fall deep into arrears.
New research conducted by analysts Fujitsu Consulting and seen by The Sunday Telegraph has concluded that the number of people who default on their mortgage payments will almost double from 25,000 today to 40,000 by the end of 2010.
First-home buyers, lured by government stimulus but caught by rising rates, pay freezes and reduced working hours, are predicted to account for nearly half the default increase.
"Many people are already having a tough time and paying their mortgage with their credit cards and rate increases of this magnitude will push thousands over the edge" says Martin North, managing director of Fujitsu Consulting.
"First-home buyers will be particularly hard hit because so many were caught up in the hype of the stimulus and talk of a rapidly rising market and didn't give enough thought to how they would cope with rising rates," he says.
Stronger than expected inflation figures released last week, plus news on Friday that the US has emerged from recession, have made a rate rise this week a certainty.
"A half-point hike can't be ruled out even if the odds are slim," says Shane Oliver, chief economist at AMP Capital.
Bill Evans, head of global economics at Westpac, says he believed rates could rise by 0.50 per cent on Tuesday.
"I think the RBA has a degree of urgency about it at the moment," he says.
"Rates are very low and it wants to get up to a more normal level as quickly as possible. It's better to announce a big hike now than wait until rates are higher and then jack rates up."
Financial markets are pricing in a steady increase in the cash rate, currently 3.25 per cent, to around 4.50 per cent by next June, and onwards to between 5 and 5.5 per cent by December, 2010.
If correct, this would push the typical standard variable rate at the big banks, currently around 6 per cent, to around 8.20 per cent and raise repayments on a $300,000 mortgage from $1798 to $2242 - an increase of $433 a month.
Similar increases have been factored into Fujitsu Consulting's modelling.
The company used data from its regular surveys of 26,000 homeowners and combined the results with various forecasts about how much rates will need to rise before borrowers can no longer afford repayments.
The modelling is based on three key assumptions: the cash rate rising to 5.25 per cent by December, 2010; unemployment rising by one per cent to seven per cent and inflation hitting 3.5 per cent over the same period.
But while this assumes rate rises spread evenly over the year, some economists believe the RBA could hike rates every month until the autumn.
Shane Oliver says the RBA will raise rates by 0.25 per cent on Tuesday and again in December and February (the RBA does not meet in January).
"As long as the economic data points towards a recovery then the RBA will want to get up to a cash rate of around five per cent by the end of next year and that requires seven quarter-point increases," Mr Oliver says.
Saul Eslake, economist with the Grattan Institute, is not convinced that rates will rise in December, but agrees that rates are heading up towards 4.5 per cent by the middle of next year - meaning a mortgage rate of 7.3 per cent.
"After the rate hike last month, the Reserve Bank said that it wanted to get rates back towards a 'neutral' setting, which has traditionally been five to six per cent," Mr Eslake says.
"But because banks have expanded their profit margins by at least one per cent for mortgages and two per cent on business loans, the RBA will not want to raise the cash rate too high because what it really focuses on is what borrowers are paying. The 'new neutral' is probably now between 4 and 5 per cent."
Most economists seem convinced a 0.25 per cent hike on Tuesday is a given, but they are split on when another rise will be. Unemployment data out November 12 will be a key factor.
Saturday, October 31, 2009
Friday, October 30, 2009
Wednesday, October 28, 2009
Australia's best property bargains named
http://www.apimagazine.com.au/
The Hobart suburb of Clarence City is Australia’s best property bargain according to a list of the country’s 100 hottest suburbs.
Investors can pick up an average house in Clarence City for just $178,000, according to a report in Australian Property Investor magazine.
It’s a "long-term hold" but the suburb will see significant growth in five to seven years, the report says.
The magazine asked Australia’s top property experts to list the hottest 100 suburbs for investors.
With an average median house price of $548,000 across the 100 locations, news.com.au identified the cheapest of those suburbs and they are listed below.
You can read the full list in the magazine, which is out today.
Also released today, the Australian Property Monitors quarterly house price series showed house price growth of 3.7 per cent over the September quarter.
Hottest suburbs with the lowest average house price
Queensland
Gympie $260,000
Ipswich $269,000
Kingaroy $270,000
Beaudesert $311,000
New South Wales
Gunnedah $208,000
Branxton $349,000
Granville $353,000
Shoalhaven $388,000
Tuesday, October 27, 2009
Fantastic Furniture sales up slightly
http://www.news.com.au/business/story/0,27753,26271325-31037,00.html
FURNITURE retailer Fantastic Holdings says its September quarter results are strong and the retail outlook for Australia is promising.
Fantastic said the group's like for like delivered sales have increased four per cent in September compared with the corresponding period to September 2008, while total sales rose 15 per cent.
Chairman George Bennett also reiterated recent guidance that pre tax net profit for the six months to December 2009 would rise between 65 to 75 per cent compared to $10.6 million in the prior corresponding period.
"We do not expect gains of this magnitude for the full year however, as the performance in the second six months of the 2009 financial year was much stronger than the first half," Mr Bennett said.
Managing director Julian Tertini said the retail outlook in Australia was "promising'' but warned there could be challenges ahead.
"With the winding down of government stimulus to consumers and the expectation of rising interest rates, there will be further challenges in the 2010 financial year," Mr Tertini said.
"However, if consumer sentiment continues to improve, optimism remains in financial markets, employment stays at reasonable levels and demand for housing remains strong, these factors will provide the Fantastic Holdings Group with significant opportunities to grow our customer base and achieve better economies of scale."
Fantastic in August 2009 posted a 32 per cent increase in annual sales to $402 million, compared to the prior financial year, and a flat net profit of $18.6 million.
Mr Tertini said in August that the result was boosted by improving consumer sentiment and contributions from the acquisitions of Le Cornu and Dare Gallery, and Fantastic's entry into Western Australia.برآورد120 میلیارد تومانی گردش مالی بازار بخاری های گازسوز در چهار ماه پایانی سال
با در نظر گرفتن میانگین قیمت 100 هزار تومانی برای هر دستگاه بخاری گازسوز و نیاز بازارهای کشور به 2/1 میلیون دستگاه از این کالا، گردش مالی بازار بخاری های گازسوز در چهار ماه پایانی سال حدود 120 میلیارد تومان برآورد می شود.» رئیس اتحادیه کشوری لوازم خانگی، ضمن بیان مطلب فوق، درباره وضعیت بازار لوازم خانگی به «سرمایه» اظهار کرد: «بازار لوازم خانگی در آرامش به سر می برد. تنها چند شرکت لیست قیمت برای بالا بردن قیمت برخی از این لوازم را داده بودند که با همکاری سازمان حمایت و سازمان بازرگانی استان تهران از این مساله جلوگیری شد.»
محمد طحان پور در مورد قیمت انواع بخاری در سال جاری گفت: «انواع بخاری گازی هم اکنون با همان قیمت های مرداد سال 87 عرضه می شود و یک ریال به کالایی که عرضه می شود، افزوده نشده است. تنها یک کارخانه پنج درصد افزایش قیمت بخاری را اعمال کرده بود که از طریق سازمان حمایت و سازمان بازرگانی استان تهران گرانی تذکر داده شد و مابقی کارخانه های بخاری ساز افزایش قیمت نداشته اند.»
رئیس اتحادیه کشوری لوازم خانگی با بیان این مطلب و با اشاره به افزایش12 درصدی قیمت انواع بخاری گازی در مرداد ماه سال گذشته افزود: «این افزایش قیمت توسط کارخانه های تولیدکننده به علت بالارفتن هزینه های تولید رخ داد.»
وی با اشاره به تولید سالانه حدود یک میلیون و 500 هزار دستگاه بخاری گازی خانگی در کشور افزود: «از این میزان تولید بخاری گازی خانگی، یک میلیون و 200 هزار دستگاه پاسخگوی نیاز داخلی بوده و 300 هزار دستگاه باقی مانده به کشورهای آسیای میانه، گرجستان، عراق و حتی کشورهای اروپایی و بخشی نیز به صورت
«CKd» به سودان صادر می شود.»
محمد طحان پور در مورد قیمت انواع بخاری در سال جاری گفت: «انواع بخاری گازی هم اکنون با همان قیمت های مرداد سال 87 عرضه می شود و یک ریال به کالایی که عرضه می شود، افزوده نشده است. تنها یک کارخانه پنج درصد افزایش قیمت بخاری را اعمال کرده بود که از طریق سازمان حمایت و سازمان بازرگانی استان تهران گرانی تذکر داده شد و مابقی کارخانه های بخاری ساز افزایش قیمت نداشته اند.»
رئیس اتحادیه کشوری لوازم خانگی با بیان این مطلب و با اشاره به افزایش12 درصدی قیمت انواع بخاری گازی در مرداد ماه سال گذشته افزود: «این افزایش قیمت توسط کارخانه های تولیدکننده به علت بالارفتن هزینه های تولید رخ داد.»
وی با اشاره به تولید سالانه حدود یک میلیون و 500 هزار دستگاه بخاری گازی خانگی در کشور افزود: «از این میزان تولید بخاری گازی خانگی، یک میلیون و 200 هزار دستگاه پاسخگوی نیاز داخلی بوده و 300 هزار دستگاه باقی مانده به کشورهای آسیای میانه، گرجستان، عراق و حتی کشورهای اروپایی و بخشی نیز به صورت
«CKd» به سودان صادر می شود.»
Sunday, October 25, 2009
To rent or to buy: weighing up the options
IT'S a lie to say that numbers don't lie. This is especially true in the real estate debate about whether you are financially better off renting or buying a house.
Crunching the numbers for this argument can produce almost any answer you like, depending on the assumptions made for factors such as interest rates, house prices, rental costs, investment growth and tax deductions.
And, of course, there's the matter of trying to save up the tens of thousands of dollars it usually takes to build a deposit.
The "rent money is dead money" line is a fair claim in many cases, but things can get murky when the money saved by renting is invested elsewhere typically shares or an investment property that have tax incentives.
It's easy enough to compare the basics. For example, Brisbane's median asking rent for a house is $360 a week, according to a report by Australian Property Monitors. (http://www.apm.com.au/)
The median house price for Brisbane is $419,000, says the Real Estate Institute of Australia. (http://www.reia.com.au/)
The interest cost of a $419,000 loan based on a 6.5 per cent interest rate is $524 a week, and for an 8.5per cent interest rate it is $685 a week. But the basics just don't tell the full story.
Damon Nagel, managing director of property investment firm Ironfish, says most people don't consider the long list of other factors that affect the renting versus buying decision.
He says people can benefit by owning investment property while themselves living in a rented residence, although these "rental investors" are uncommon.
"We have an absolute affinity with owning our own castle."
Home ownership offers a sense of security and the ability to change your living environment without seeking permission, Nagel says, which often outweighs any financial benefits.
He has calculated that a single person earning $70,000 a year who buys a $400,000 home with a 20 per cent deposit will spend $469 a week, based on a 6.5 per cent home loan rate and taking into account all the extras such as council rates and mortgage set-up costs.
But a renter in an equivalent $400,000 property would pay $420 a week a saving of $50.
"When interest rates go higher than 7 per cent, it's even more of a no-brainer to be a rental investor," Nagel says.
"The argument shifts back to buying your own home when rates are low."
"Renting may also be a good option for people who want to live in a suburb close to the city or the beach, but can't afford to buy a property in that area," he says.
"You could buy a property in an adjoining suburb which isn't as expensive but still has good scope for capital growth and rent that out while you rent a property in your preferred suburb."
Of course, the money saved by renting should be channelled into investment, he says.
"The most important thing is to be doing something proactive about creating wealth for you and your family. The biggest mistake people make is doing nothing."
AMP financial planner Darren James says people should remember that property is not a get-rich-quick strategy.
"At present the cost of borrowing is relatively low, but this environment won't last forever," says James, of MBA Financial Strategists. "Another factor that makes real estate risky in the short term is transaction costs.
"These tend to be pricey often thousands of dollars for stamp duty and agents' fees so buyers need to consider the financial implications," he says.
"Those wanting better short-to-medium-term investment returns could consider other strategies such as managed funds or putting money into a high-interest savings account. For those who are prepared to wait to reap the rewards, home ownership remains a reliable long-term investment.
"At the end of the day, the unique needs of the people have to be taken into account, as well as time frames, tax effectiveness and an investor's attitude to risk."
Club Financial Services director David Garner believes in buying rather than renting.
"People might worry they will be in debt for 30 years, but the alternative is you rent for the rest of your life," he says.
While house price inflation will lower the relative size of the home loan over time, renters always have their costs adjusted upward.
"You are always paying a percentage of your income in rent," he says.
Garner says people who end up choosing the renting option need to make sure their savings are properly invested.
"Do people have the discipline to do that or does it just get blown on lifestyle?" he says.
"It's very rare that we would come across someone in a fantastic financial position who rents their home and has an investment property. Most people have equity in their own home."
Crunching the numbers for this argument can produce almost any answer you like, depending on the assumptions made for factors such as interest rates, house prices, rental costs, investment growth and tax deductions.
And, of course, there's the matter of trying to save up the tens of thousands of dollars it usually takes to build a deposit.
The "rent money is dead money" line is a fair claim in many cases, but things can get murky when the money saved by renting is invested elsewhere typically shares or an investment property that have tax incentives.
It's easy enough to compare the basics. For example, Brisbane's median asking rent for a house is $360 a week, according to a report by Australian Property Monitors. (http://www.apm.com.au/)
The median house price for Brisbane is $419,000, says the Real Estate Institute of Australia. (http://www.reia.com.au/)
The interest cost of a $419,000 loan based on a 6.5 per cent interest rate is $524 a week, and for an 8.5per cent interest rate it is $685 a week. But the basics just don't tell the full story.
Damon Nagel, managing director of property investment firm Ironfish, says most people don't consider the long list of other factors that affect the renting versus buying decision.
He says people can benefit by owning investment property while themselves living in a rented residence, although these "rental investors" are uncommon.
"We have an absolute affinity with owning our own castle."
Home ownership offers a sense of security and the ability to change your living environment without seeking permission, Nagel says, which often outweighs any financial benefits.
He has calculated that a single person earning $70,000 a year who buys a $400,000 home with a 20 per cent deposit will spend $469 a week, based on a 6.5 per cent home loan rate and taking into account all the extras such as council rates and mortgage set-up costs.
But a renter in an equivalent $400,000 property would pay $420 a week a saving of $50.
"When interest rates go higher than 7 per cent, it's even more of a no-brainer to be a rental investor," Nagel says.
"The argument shifts back to buying your own home when rates are low."
Tax deductions worth considering
The key factor is the tax deductions property investors can claim something that owner/occupiers cannot do. But a big benefit of being an owner/occupier is that you pay no tax on your property's capital growth.
"What you save on a swing you lose on the roundabout," he says.
So what is his verdict rent or buy? "It's a Russian roulette question. If I was young and starting out I would do a rental investment. If I had my own home I would keep my own home."
Making your first home an investment property is a strategy also recommended by the chief executive of property company Investa Solutions, Ian Lloyd.
"People tend to do things the traditional way and are scared of doing something a different way, but this strategy means you still own property, and at the worst you can go and move into your investment property," he says.
Young Australians can benefit from having a tenant help repay their property. "I'm trying to encourage my youngest son at 18 to buy his first property at 19 he will be able to set it up to work for him before he leaves university."
Lloyd says the tax deductions are usually the biggest when the investment property is new. "A lot of people forget that you can take your tax benefits in your weekly, fortnightly or monthly pay packet. You don't have to wait until tax time to get the benefit," he says.
An income tax variation form is available on the Tax Office website, although Lloyd suggests people get their accountant to have a quick look at this strategy.
"Another thing that people miss is the growth you are getting is on a very big asset," he says.
"It only has to go up 10 per cent on a $300,000 property and you have gained $30,000."
Renting a low-hassle option
Smartline Personal Mortgage Advisers managing director Chris Acret says renting can be attractive for people who want to avoid maintenance costs or want the flexibility to move without the costs and hassles associated with selling a property."Renting may also be a good option for people who want to live in a suburb close to the city or the beach, but can't afford to buy a property in that area," he says.
"You could buy a property in an adjoining suburb which isn't as expensive but still has good scope for capital growth and rent that out while you rent a property in your preferred suburb."
Of course, the money saved by renting should be channelled into investment, he says.
"The most important thing is to be doing something proactive about creating wealth for you and your family. The biggest mistake people make is doing nothing."
AMP financial planner Darren James says people should remember that property is not a get-rich-quick strategy.
"At present the cost of borrowing is relatively low, but this environment won't last forever," says James, of MBA Financial Strategists. "Another factor that makes real estate risky in the short term is transaction costs.
"These tend to be pricey often thousands of dollars for stamp duty and agents' fees so buyers need to consider the financial implications," he says.
"Those wanting better short-to-medium-term investment returns could consider other strategies such as managed funds or putting money into a high-interest savings account. For those who are prepared to wait to reap the rewards, home ownership remains a reliable long-term investment.
"At the end of the day, the unique needs of the people have to be taken into account, as well as time frames, tax effectiveness and an investor's attitude to risk."
Club Financial Services director David Garner believes in buying rather than renting.
"People might worry they will be in debt for 30 years, but the alternative is you rent for the rest of your life," he says.
While house price inflation will lower the relative size of the home loan over time, renters always have their costs adjusted upward.
"You are always paying a percentage of your income in rent," he says.
Garner says people who end up choosing the renting option need to make sure their savings are properly invested.
"Do people have the discipline to do that or does it just get blown on lifestyle?" he says.
"It's very rare that we would come across someone in a fantastic financial position who rents their home and has an investment property. Most people have equity in their own home."
مدیرعامل شرکت دخانیات ایران از گردش مالی 3 هزار میلیارد تومانی صنعت دخانیات کشور خبر داد و گفت: در حال حاضر 12 میلیون نفر مبتلا به سیگار در کشور وجود دارد.برآورد میزان مصرف سیگار در سال گذشته 60 میلیارد و 400 میلیون نخ بوده که این رقم در سالجاری با 2/1 درصد افزایش به 61 میلیارد و 200 میلیون نخ رسیده است.
Saturday, October 24, 2009
کارخانه های کبریت سازی کشور در آستانه ورشکستگی
سرمایه: روزانه حدود هفت میلیون قوطی کبریت در کشور مصرف می شود. بر این اساس با در نظر گرفتن حداقل قیمت20 تومانی هر قوطی کبریت، گردش مالی بازار کبریت در کشور روزانه 140 میلیون تومان و سالانه بیش از 51 میلیارد تومان محاسبه می شود. به گزارش خبرنگار ما، در حال حاضر هشت کارخانه کبریت سازی در استان های آذربایجان شرقی، خراسان، فارس و قزوین فعال هستند. یکی از تولید کنندگان و فعالان بازار کبریت کشور در رابطه با وضعیت این صنعت به خبرنگار ما گفت: «به طور کلی در طول 30 سال گذشته هیچ کارخانه جدید کبریت سازی در کشور احداث نشده است. در واقع گفته می شود ورود تکنولوژی های جدید صنعت کبریت سازی را در معرض نابودی قرار داده است
. از همین رو است که سودآوری صنعت مزبور با بیش از 90 سال سابقه فعالیت در کشور در حد صفر ارزیابی می شود. با این همه واردات کبریت به صورت غیرقانونی و قاچاق از پاکستان و چین در 15 سال گذشته یکی از بزرگ ترین معضلات این صنعت به شمار می رود به طوری که کبریت سازی کشور را در معرض ورشکستگی قرار داده است.» وی افزود: «ورود کبریت های کم کیفیت و غیراستاندارد، اغلب به بهانه ترانزیت از ایران صورت می گیرد و در استان های شمال غربی به قیمت بسیار پایین عرضه می شود. این امر علاوه بر اینکه موجب شده کارخانه های کبریت سازی تعدادی از خطوط تولید خود را تعطیل کنند، صادرات و حتی توزیع داخلی آنها را نیز کاهش داده است.»مدیر یکی از کارخانه های کبریت سازی نیز افزایش یک و نیم برابری قیمت مواد اولیه را از جمله مشکلات این صنعت عنوان کرد و گفت: «در حال حاضر قیمت هر قوطی کبریت کوچک برای تولید کننده حدود 10 تومان تمام می شود اما سودی که به او می رسد رقم بسیار ناچیزی است. این در حالی است که هر قوطی کبریت در بازار 20 تا 30 تومان به فروش می رسد.»
Friday, October 23, 2009
رابطه چین و آمریکا
هنوز به لحاظ نرخ ارز بازار، اندازه اقتصاد چین کمتر از یک سوم اقتصاد آمریکا است. سرانه تولید ناخالص داخلی چین یک چهاردهم آمریکا است. فاصله ميزان ابداعات بین دو کشور هنوز بسیار عظیم است. بودجه دفاعی آمریکا هنوز 6 برابر بودجه نظامی چین است. در مورد اوراق بهادار خزانهداری آمریکا هم باید گفت استفاده از آنها گزینه خوبی برای چین نیست چون کاهش ارزش دلار به اقتصاد خود چین آسیب خواهد زد. با کاهش هزینه مصرفکنندگان آمریکایی و رونق یافتن هزینه داخلی چینیها بهخاطر محرکهای اقتصادیشان، کسری عظیم تجاری آمریکا که مشکلساز شده بود در حال کاهش است. در چنین شرایطی خطری که گسترش بیش از حد اقتصاد چین در خارج ایجاد میکند این است که موجب افزایش اندیشه حمایتگرایی میشود آنهم در زمانی که نرخ بیکاری آمریکا به طرز دردناکی بالاست.
Wednesday, October 21, 2009
Monday, October 19, 2009
گردش مالی سالانه 500 میلیون دلاری بازار موتورسیکلت
طبق آمارهای اعلامی، سالانه 500 هزار دستگاه موتورسیکلت به موتورسیکلت های کشور افزوده می شود و هر دستگاه موتورسیکلت به طور متوسط سالانه
437 کیلوگرم منوکسیدکربن تولید می کند و با متوسط مصرف روزی سه لیتر بنزین، تقریباً یک هزار و 95 لیتر بنزین در سال توسط هر دستگاه موتورسیکلت مصرف می شود.
به گزارش خبرنگار ما، بازار موتورسیکلت در ایران از جمله بازارهایی است که علاوه بر گردش مالی سالانه حدود 500 میلیون دلاری، اشتغال زایی بالایی نیز دارد
،تردد 500 هزار دستگاه موتورسیکلت در تهران
به طور کلی طی 10 ، 15 سال اخیر به دلیل ضریب استهلاک پایین موتورسیکلت، سوخت ارزان، هزینه های بسیار پایین تعمیر و نگهداری و امکاناتی که یک موتورسیکلت می تواند به یک خانواده کشاورز روستایی (یا دهک های پایین درآمدی شهری) بدهد، در روستاها جایگزین مناسبی برای چهارپایان شده است، بر این اساس بازار موتورسیکلت 70 درصد پایین دست جامعه را هدف می گیردورود کشور چین به بازارهای جهانی موتورسیکلت، تاثیرات شگرفی بر قیمت این کالا گذاشته است»، تاکید کرد: «زمانی که چینی ها در بازار موتورسیکلت نبودند، تولیدکنندگان ایرانی قطعات موتورسیکلت را با قیمت های بسیار بالاتر از قیمت های فعلی خریداری می کردند، ولی زمانی که چینی ها وارد این بازار شدند، نه تنها تولید موتورسیکلت را به صورت نجومی افزایش دادند، بلکه به علت رقابتی که در داخل چین وجود داشت و امکاناتی که دولت چین در اختیار تولیدکنندگانش می گذاشت، شکستن قیمت و پایین آوردن نرخ ها برای پیدا کردن بازارهای جدید آغاز شد.»
وی افزود: «مثلاً انجین موتورسیکلت که هفت سال پیش با قیمت بالاتر از 300 دلار از چین و تایوان خریداری می شد، توسط چینی ها به 100 تا 120 دلار کاهش یافت. همچنین حجم تولید چین اگر در سال اول ورود حدود دو میلیون دستگاه بود هم اکنون به حدود 25 میلیون دستگاه رسیده که نه تنها بازار خودشان را ساپورت می کند بلکه نیاز بازارهای مصرف دیگر کشورهای جهان را نیز پاسخ می دهد.» وی افزود: «در حال حاضر 30 تا 35 درصد قطعات موتورسیکلت در بازار ایران وارداتی و مابقی تولید داخل است.»
437 کیلوگرم منوکسیدکربن تولید می کند و با متوسط مصرف روزی سه لیتر بنزین، تقریباً یک هزار و 95 لیتر بنزین در سال توسط هر دستگاه موتورسیکلت مصرف می شود.
به گزارش خبرنگار ما، بازار موتورسیکلت در ایران از جمله بازارهایی است که علاوه بر گردش مالی سالانه حدود 500 میلیون دلاری، اشتغال زایی بالایی نیز دارد
،تردد 500 هزار دستگاه موتورسیکلت در تهران
به طور کلی طی 10 ، 15 سال اخیر به دلیل ضریب استهلاک پایین موتورسیکلت، سوخت ارزان، هزینه های بسیار پایین تعمیر و نگهداری و امکاناتی که یک موتورسیکلت می تواند به یک خانواده کشاورز روستایی (یا دهک های پایین درآمدی شهری) بدهد، در روستاها جایگزین مناسبی برای چهارپایان شده است، بر این اساس بازار موتورسیکلت 70 درصد پایین دست جامعه را هدف می گیردورود کشور چین به بازارهای جهانی موتورسیکلت، تاثیرات شگرفی بر قیمت این کالا گذاشته است»، تاکید کرد: «زمانی که چینی ها در بازار موتورسیکلت نبودند، تولیدکنندگان ایرانی قطعات موتورسیکلت را با قیمت های بسیار بالاتر از قیمت های فعلی خریداری می کردند، ولی زمانی که چینی ها وارد این بازار شدند، نه تنها تولید موتورسیکلت را به صورت نجومی افزایش دادند، بلکه به علت رقابتی که در داخل چین وجود داشت و امکاناتی که دولت چین در اختیار تولیدکنندگانش می گذاشت، شکستن قیمت و پایین آوردن نرخ ها برای پیدا کردن بازارهای جدید آغاز شد.»
وی افزود: «مثلاً انجین موتورسیکلت که هفت سال پیش با قیمت بالاتر از 300 دلار از چین و تایوان خریداری می شد، توسط چینی ها به 100 تا 120 دلار کاهش یافت. همچنین حجم تولید چین اگر در سال اول ورود حدود دو میلیون دستگاه بود هم اکنون به حدود 25 میلیون دستگاه رسیده که نه تنها بازار خودشان را ساپورت می کند بلکه نیاز بازارهای مصرف دیگر کشورهای جهان را نیز پاسخ می دهد.» وی افزود: «در حال حاضر 30 تا 35 درصد قطعات موتورسیکلت در بازار ایران وارداتی و مابقی تولید داخل است.»
Sunday, October 18, 2009
In Australia, most of the Middle Eastern-born population live in Sydney (58.1%) or Melbourne (26.0%). Less than 5% reside in each of the other mainland state capitals, with less than 1% in each territory and Tasmania. Place of residence information for persons born in the six main countries of birth is presented below.
At the time of the Census almost three-quarters (72.8%) of those born in Lebanon resided in Sydney, with 19.6% in Melbourne. Similarly, people born in Iraq were mostly living in Sydney (62.2%) or Melbourne (24.5%).
Together, Victoria and New South Wales accounted for 90.8% of people born in Turkey with 46.4% in Melbourne, 37.1% in Sydney, 3.7% in the rest of Victoria and 3.6% in the rest of New South Wales. In contrast, people born in Iran had a more diverse residential distribution, with 50.6% living in Sydney, 18.3% in Melbourne, 9.4% in Perth, 7.6% in Adelaide and 5.4% in Brisbane.
People born in Israel were mostly living in Melbourne (40.8%) followed by Sydney (36.3%) while most of the Syria-born residents were in Sydney (62.1%) followed by Melbourne (26.0%).
At the time of the Census almost three-quarters (72.8%) of those born in Lebanon resided in Sydney, with 19.6% in Melbourne. Similarly, people born in Iraq were mostly living in Sydney (62.2%) or Melbourne (24.5%).
USUAL RESIDENCE, Persons born in Lebanon and Iraq, 2006
Together, Victoria and New South Wales accounted for 90.8% of people born in Turkey with 46.4% in Melbourne, 37.1% in Sydney, 3.7% in the rest of Victoria and 3.6% in the rest of New South Wales. In contrast, people born in Iran had a more diverse residential distribution, with 50.6% living in Sydney, 18.3% in Melbourne, 9.4% in Perth, 7.6% in Adelaide and 5.4% in Brisbane.
People born in Israel were mostly living in Melbourne (40.8%) followed by Sydney (36.3%) while most of the Syria-born residents were in Sydney (62.1%) followed by Melbourne (26.0%).
USUAL RESIDENCE, Persons born in Turkey, Iran, Israel and Syria, 2006
موتور محرکه اقتصاد آمریکا
شواهد حاکی از خروج کارخانجات آمریکایی از بدترین رکود چند دهه اخیر است. در هفته جاری گزارش درآمدی تولیدکنندگان آمریکا منتشر خواهد شد و سرمایهگذاران درخواهندیافت که کارخانجات این کشور در چه سطحی از بیداری قرار گرفتهاند.
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تولیدکنندگان بزرگی چون بویینگ، کاترپیلار و تریام نتایج درآمدی خود را گزارش خواهند داد. پیشبینی میشود این گزارشها نشان دهد شرکتها و مصرفکنندگان آمریکایی بار دیگر شروع به صرف هزینه کردهاند.
البته اقتصاد آمریکا به اندازه 20 سال پیش به کارخانجات خود وابسته نیست. بلکه این هزینه مصرفکنندگان است که موتور محرکه اقتصاد این کشور است، اما این اواخر هزینه مصرفکنندگان بهخاطر از بین رفتن مشاغل و تعطیلی کارخانجات کاهش یافت. اکنون سخن از احیای اقتصادی تولید محور به میان آمده است.
گزارشهایی که قرار است در این هفته منتشر شوند بهطور مستقیم بستگی به خریداران غذا، اسباببازی، پوشاک و سایر محصولات دارند، اما از سوی دیگر این کارخانجات تولیداتی را به فروش میرسانند که قشر متوسط جامعه اقدام به خرید آنها نمیکند. بنابراین آنها از برنامههای بزرگ محرک اقتصادی دولت مانند جادهسازی، بخش رو به رشد بهداشتودرمان و نیاز بخش نظامی به هواپیماهای باری بیشتر یا نیاز شرکتهای هواپیمایی به هواپیماهای بیشتر، منتفع میشوند.
فعالیت کارخانجات آمریکایی جهش یافته است. طی ماههای اخیر مجموع تولیدات کارخانهای کشور بهبود یافته است و روز جمعه شرکت جنرال الکتریک اعلام کرد که در فصل گذشته سود حاصل از تولید این شرکت تا 4 درصد رشد داشته است. در سایه بحرانی که کارخانجات آمریکا را زیر بار فشارها خرد کرد، اکنون یک رشد اندک در سود حاصل از تولید آنها میتواند به مثابه نوک پیکانی باشد که روند صعودی قابل توجهی را در رشد بخش کارخانهای نشان میدهد. از زمانی که رکود اقتصادی در دسامبر سال 2007 پا گرفت، دو میلیون شغل در بخش کارخانجات آمریکا از میان رفت و احتمالا زمان طولانی لازم است تا تولیدکنندگان به نقطه پیش از بحران بازگردند.
توماس دستربرگ، رییس یک سازمان تحقیقات در زمینه سیاستهای اقتصادی به نام ام ای پی آی میگوید: «ما به نقطه صفر رسیدیم و از آن نقطه بازگشتیم.» قرار است شرکتهای کوچکتر نیز که مواد اولیه تولید میکنند گزارشهای درآمدی خود را ارائه دهند. اگر آنطور که پیشبینی میشود بخش کارخانجات در حال احیا باشد، با بهبود فعالیتهای کارخانجات تولید مس، سیمهای مسی، لولهها و سایر مصالح ساختمانی، پنجرهای جدید به روی سرمایهگذاران بخش مسکن آمريكا گشوده خواهد شد.
Saturday, October 17, 2009
Facebook users
http://blog.nielsen.com/nielsenwire/wp-content/uploads/2009/03/nielsen_globalfaces_mar09.pdf
http://www.nickburcher.com/2009/03/facebook-usage-statistics-by-country.html
Australian Facebook Demographics
According to CheckFacebook.com, over 6.4 Million Australian use Facebook, which represent a huge 38.48% of the Australian online population
In terms of demographics, the Australian Facebook population is made of 55.6% of female and 44% of Male.
In terms age, Facebook remains a generation Y social network. The biggest segment is the 25-34 years old with 29.3% followed by the 18-24 with 28.8%.
The 35 years + segment currently accounts for 30.4% of the Australian Facebook population and is according to Nielsen Online, the fastest growing segment.
Top 30 countries with highest number of Facebook users per head of population in July 2008:
| Rank | Country | Latest Population figure | No. of Facebook Users | % Facebook penetration |
| 1 | Iceland | 320,500 | 150,280 | 46.89% |
| 2 | Norway | 4,813,000 | 1,937,320 | 40.25% |
| 3 | Denmark | 5,511,451 | 2,109,900 | 38.28% |
| 4 | Canada | 33,618,000 | 11,556,180 | 34.37% |
| 5 | UK | 61,612,300 | 17,540,660 | 28.47% |
| 6 | Chile | 16,895,000 | 4,480,480 | 26.52% |
| 7 | Hong Kong | 7,008,900 | 1,755,580 | 25.05% |
| 8 | Australia | 21,730,255 | 5,409,900 | 24.9% |
| 9 | Sweden | 9,264,000 | 2,139,720 | 23.1% |
| 10 | Singapore | 4,839,400 | 1,096,680 | 22.66% |
| 11 | Luxembourg | 491,700 | 100,880 | 20.52% |
| 12 | Belgium | 10,741,000 | 2,190,380 | 20.39% |
| 13 | Finland | 5,332,029 | 1,051,400 | 19.72% |
| 14 | USA | 306,227,000 | 59,977,740 | 19.55% |
| 15 | Switzerland | 7,705,800 | 1,407,780 | 18.27% |
| 16 | Cyprus | 801,600 | 143,380 | 17.89% |
| 17 | New Zealand | 4,304,509 | 768,100 | 17.84% |
| 18 | Malta | 412,600 | 71,320 | 17.29% |
| 19 | The Bahamas | 342,000 | 56,280 | 16.46% |
| 20 | Puerto Rico | 3,982,000 | 651,580 | 16.36% |
| 21 | Italy | 60,090,400 | 8,882,260 | 14.78% |
| 22 | Israel | 7,390,600 | 1,091,520 | 14.77% |
| 23 | France | 65,073,482 | 9,579,240 | 14.72% |
| 24 | Turkey | 71,517,100 | 10,477,320 | 14.65% |
| 25 | Croatia | 4,432,000 | 639,300 | 14.42% |
| 26 | Slovenia | 2,053,355 | 294,500 | 14.34% |
| 28 | Ireland | 4,517,800 | 639,020 | 14.14% |
| 29 | Maldives | 309,000 | 42,260 | 13.68% |
| 30 | Trinidad & Tobago | 1,339,000 | 182,480 | 13.63% |
There are now 27 countries with over 1 million people using Facebook. Here are the latest statistics for March 2009 (taken from the Facebook interface):
| Country | Facebook users 30/12/08 | Facebook users 17/03/09 | % growth Dec 08 - Mar 09 |
| USA | 42,078,960 | 55,329,460 | 31.5% |
| UK | 14,937,810 | 17,765,160 | 19% |
| Canada | 10,862,040 | 11,655,980 | 7.3% |
| Turkey | 7,394,340 | 9,957,180 | 25.5% |
| France | 6,587,240 | 8,742,900 | 32.7% |
| Italy | 5,585,700 | 8,678,000 | 55.4% |
| Australia | 4,330,040 | 5,152,960 | 19% |
| Colombia | 3,632,760 | 4,508,960 | 24.1% |
| Chile | 4,153,020 | 4,341,240 | 4.5% |
| Spain | 2,596,080 | 3,948,300 | 52.1% |
| Argentina | 2,255,300 | 3,353,280 | 48.7% |
| Venezuela | 1,874,220 | 2,578,540 | 37.6% |
| Indonesia | 897,040 | 2,236,380 | 149.3% |
| Sweden | 1,696,700 | 2,097,840 | 23.6% |
| Denmark | 1,776,260 | 2,093,900 | 17.9% |
| Belgium | 1,655,940 | 2,043,380 | 23.4% |
| Mexico | 1,440,640 | 1,932,940 | 34.2% |
| Norway | 1,456,140 | 1,884,800 | 29.4% |
| Germany | 1,255,480 | 1,772,380 | 41.2% |
| Hong Kong | 1,458,520 | 1,683,980 | 15.5% |
| Switzerland | 1,122,900 | 1,391,220 | 23.9% |
| India | 1,071,280 | 1,367,560 | 27.7% |
| Greece | 999,580 | 1,360,620 | 36.1% |
| South Africa | 920,200 | 1,227,220 | 33.4% |
| Finland | 918,940 | 1,131,580 | 23.1% |
| Egypt | 822,560 | 1,125,900 | 36.9% |
| Malaysia | 850,420 | 1,069,260 | 25.7% |
Here are the Top 30 countries with highest number of Facebook users (2nd July 2009 - data from Facebook):
| Rank | Country | Number of Facebook users | 12 month growth % | 6 month growth % |
| 1 | USA | 69,378,980 | 149.5% | 64.9% |
| 2 | UK | 18,711,160 | 67.5% | 25.3% |
| 3 | Turkey | 12,382,320 | 257.4% | 56.1% |
| 4 | Canada | 11,961,020 | 24.3% | 10.1% |
| 5 | France | 10,781,480 | 338.1% | 63.7% |
| 6 | Italy | 10,218,400 | 1980.7% | 82.9% |
| 7 | Indonesia | 6,496,960 | 2997.3% | 624.3% |
| 8 | Australia | 6,053,560 | 88.2% | 39.8% |
| 9 | Spain | 5,773,200 | 729.6% | 122.3% |
| 10 | Colombia | 5,760,300 | 138.8% | 58.6% |
| 11 | Argentina | 4,906,220 | 1073.8% | 117.5% |
| 12 | Chile | 4,830,680 | 129.4% | 16.3% |
| 13 | Mexico | 3,644,400 | 249.5% | 153% |
| 14 | Venezuela | 3,578,740 | 270.2% | 91% |
| 15 | India | 3,236,140 | 354.8% | 202.1% |
| 16 | Germany | 3,136,680 | 407.5% | 149.9% |
| 17 | Philippines | 2,719,560 | 1572.1% | 596.1% |
| 18 | Belgium | 2,372,460 | 346.2% | 43.3% |
| 19 | Sweden | 2,287,240 | 100.3% | 34.8% |
| 20 | Hong Kong | 2,087,580 | 149.1% | 43.1% |
| 21 | Malaysia | 1,995,040 | 342.8% | 134.6% |
| 22 | Denmark | 1,961,880 | 152.4% | 10.5% |
| 23 | Norway | 1,853,840 | 58.4% | 27.3% |
| 24 | South Africa | 1,720,820 | 96% | 87% |
| 25 | Greece | 1,638,980 | 224.6% | 64% |
| 26 | Egypt | 1,618,040 | 106.5% | 96.7% |
| 27 | Switzerland | 1,491,940 | 280.1% | 32.9% |
| 28 | Israel | 1,433,540 | 142.2% | 66.4% |
| 29 | Singapore | 1,384,760 | 198% | 87.1% |
| 30 | Finland | 1,097,600 | 109.9% | 19.4% |
Thursday, October 15, 2009
Australia Post profit
Australia Post's pre-tax profit for 2008/09 of $380.9 million was down on the record high of $592.2 million booked in the previous financial year.
Net profit of $260.6 million was down from $432.2 million in the previous year, while revenue grew by 0.5 per cent to $4.97 billion.
For the first time in six years, the volume of all items sent through the post fell, to 5.3 billion from 5.6 billion in the previous year.
As well, letter volumes fell by 4.1 per cent in the year to 4.9 billion, and revenue, boosted by a 5 cent increase in the price of postage stamps, increased by just 0.7 per cent to $2.8 billion.
Australia Post's parcels and logistics business posted annual revenue of $1.3 billion, up 2.5 per cent on the previous year.
The popularity of parcels continues to increase due to improvements in tracking and security, the company said, which is highly valued by online traders.
Agency services and retail products, including passport applications and the sale of products from post offices, delivered revenue growth of 3.2 per cent to $736 million.
Mr John received total remuneration of $2.58 million for the year, down approximately 10 per cent on the previous year.
Net profit of $260.6 million was down from $432.2 million in the previous year, while revenue grew by 0.5 per cent to $4.97 billion.
For the first time in six years, the volume of all items sent through the post fell, to 5.3 billion from 5.6 billion in the previous year.
As well, letter volumes fell by 4.1 per cent in the year to 4.9 billion, and revenue, boosted by a 5 cent increase in the price of postage stamps, increased by just 0.7 per cent to $2.8 billion.
Australia Post's parcels and logistics business posted annual revenue of $1.3 billion, up 2.5 per cent on the previous year.
The popularity of parcels continues to increase due to improvements in tracking and security, the company said, which is highly valued by online traders.
Agency services and retail products, including passport applications and the sale of products from post offices, delivered revenue growth of 3.2 per cent to $736 million.
Mr John received total remuneration of $2.58 million for the year, down approximately 10 per cent on the previous year.
Friday, October 9, 2009
Timing it right to beat the property clock
http://www.news.com.au/business/money/story/0,28323,26163403-5013951,00.html
Timing it right to beat the property clock
 The timing of your property purchase can cost you thousands or make you a bumper profit / news.com.au |
BUYING in a boom or selling in a slump can cost you tens of thousands of dollars if you are on the wrong end of the deal, or it can set you up for a bumper profit if you get the timing right.
When to make your move, either as a vendor or buyer, is second in importance only to location, according to many property experts.
Even just a $20,000 overpayment on your purchase price can add another $40,000 in interest repayments over the life your mortgage.
Or losing out on a potential $20,000 in the sale price can mean another $40,000 loss in equivalent investment earnings or having to fork out more to borrow for your next property.
Within the property market there are many different economic forces at play and the face of a clock can be used to show where the market is at any given time.
Typically, there are good times to buy and bad and the same goes for selling. Knowing where you are in the property cycle can help you make the most of your sale or let you snap up a bargain purchase.
The two main positions on the property clock are undersupply and oversupply. Everything else is either leading in to one of these market conditions or coming out of it. But let’s start with undersupply.
12 o’clock
Undersupply, or midnight, is "party time" for investors and property sellers.
This is when demand from rental tenants and property buyers is so high that the number of properties available can’t keep up.
Landlords put their rents up and tenants just keep rolling in. As the rents get higher, the number of wannabe investors increases, as they see high rents as a good investment option.
At the same time owners who list their properties for sale also get a high number of bids and offers because there are a plethora of buyers out there bidding against each other.
Undersupply is caused by several factors, including strong immigration and population growth.
The construction cycle also has a role to play, as does the economy and the share market. When construction is down, the shortage, or undersupply of properties, gets worse.
And when the economy is strong and people are getting regular pay rises and secure work, this gives them extra confidence to borrow more and pay a higher price. The share market also joins in the mix of market forces.
When the share market is too risky – prices are unstable or falling (sound familiar?) – then people also switch out of shares and in to property, further increasing the number of buyers.
As more buyers flood the market they are forced to compete against each other and the only way to win in this situation is to pay a higher price.
But as is the case with all market forces, there is always an opposite effect. While property sellers are partying, enjoying their inflated property prices, the opposite is happening for would-be buyers.
For buyers considering purchasing a property at 12 o’clock, it’s more likely to be a nightmare then a party.
3 o’clock
By now all those ripper high sale prices and rising rents are attracting every man, woman and dog to the property market.
Suddenly there are developers wanting to get a piece of the action building new projects to sell for high prices.
Soon new construction gets under way to help meet all this pent-up demand as the investors continue to want a slice of those big rental incomes and cashed up former home owners look to trade up to their next home – not to mention the backlog of first-home buyers.
However, gradually the number of new properties starts to catch up with the demand. At the same time, many buyers, despite their desire, are simply priced out of the market.
No matter how secure their job or how optimistic they are about borrowing more money, they simply can’t make the finances stack up.
Tenants, too, start to withdraw or at least say no to more rent increases and the whole market starts to ease back.
This is what’s called afternoon nap time, 3 o’clock.
The heat of the market and high prices have become overwhelming and people are starting to feel less confident.
Sellers lower their price ranges and buyers are fewer and farther between as they start to realise if they hold out a bit longer they might have more control over how much they pay.
This time is now one of evensupply, where the number of properties and the number of buyers are roughly matched.
There’s no frantic hurry to buy before the price goes even higher. In fact this is often when many buyers take a siesta.
6 o’clock
Unfortunately for the developers, speculators and the sellers, as the clock ticks down to 6 o’clock the tables have turned and there are now more properties than there are buyers.
This is the typical oversupply time, the bottom of the market and the bottom on the property clock.
This can often coincide with hard economic times and the tail end of high interest rates.
People no longer feel confident about borrowing too much and might feel their income or jobs are at risk.
For a seller this is definitely not the right time to put your house up for sale. Not only will there be few buyers willing to consider your property but their offers are also likely to be considerably lower than you expect.
But it is good news for buyers. With lots of properties to choose from and very few buyers to compete with, you now have the highest chance of snapping up a bargain.
This is also the time when investors have to discount their rents and the attraction of residential property as an investment starts to lose its shine.
During the next three years or so it’s a buyers’ (and a renters’) market.
9 o’clock
Guess what? It’s time to wake up and get real.
Property prices have sunk so low that people have decided not to sell. All those highrise units and new housing estate homes have been sitting floundering on the market with no buyers. Suddenly the developers are getting realistic and stop building.
They also start to face up to their losses and it becomes a case of a little less cash in the bank or a lot more debt on the books if they don’t sell for what they can get.
Prices come down and, hey presto, the buyers come back. As the property clock heads up to 9 o’clock so do the prices.
Gradually activity returns. This usually coincides with improved economic conditions and improved consumer confidence.
The economy, the workforce, the consumers are all back on a roll and things are looking up again. And before you know it, it’s midnight again!
Wednesday, October 7, 2009
Australians threatening their health by downing 773 drinks a year
http://www.news.com.au/story/0,27574,26181107-36398,00.html
HUNDREDS of thousands of Australians would be saved from alcohol-related disease if the nation's thirst for booze dried up by a third, a new report has found.
On average, Australians down 773 standard drinks a year - the equivalent of 703 pots of beer, 552 stubbies, 93 bottles of wine or 39 bottles of spirits.
On average, each Australian drinks 9.8 litres of pure alcohol a year - more than Americans (8.4 litres), Canadians (8 litres), Swedes (6.6 litres) and Norwegians (6.4 litres).
If the average intake could be cut to 6.4 litres - about 505 standard drinks, or 459 pots - more than 380 deaths would be avoided each year.
Cutting the nation's alcohol thirst would also save the health sector $789 million and the leisure industry $435 million, according to the report.
HUNDREDS of thousands of Australians would be saved from alcohol-related disease if the nation's thirst for booze dried up by a third, a new report has found.
On average, Australians down 773 standard drinks a year - the equivalent of 703 pots of beer, 552 stubbies, 93 bottles of wine or 39 bottles of spirits.
On average, each Australian drinks 9.8 litres of pure alcohol a year - more than Americans (8.4 litres), Canadians (8 litres), Swedes (6.6 litres) and Norwegians (6.4 litres).
If the average intake could be cut to 6.4 litres - about 505 standard drinks, or 459 pots - more than 380 deaths would be avoided each year.
Cutting the nation's alcohol thirst would also save the health sector $789 million and the leisure industry $435 million, according to the report.
Sunday, October 4, 2009
Australia's second-largest wine business, Hardy Wine Company
US-BASED Constellation Brands, which owns Australia's second-largest wine business, Hardy Wine Company, has swung back into profitability and reaffirmed its full-year earnings guidance following a $US100 million ($A113.8 million) profit for the latest quarter. Group sales fell 8 per cent to $877 million, or down 3 per cent in constant-currency terms.
Thursday, October 1, 2009
Harvey Norman optimistic despite trading loss
Gerry Harvey yesterday said retail giant Harvey Norman has suffered the worst of the financial crisis and the company is entering the recovery with a strong balance sheet, despite recording a trading loss for the 2009 financial year.
Harvey said he was "cautiously optimistic" about the company's future, due to more franchising operations and confidence in the company's relationships with suppliers.
Harvey Norman recorded a trading loss of $49.3 million, which the company said is mostly due to poor conditions in Ireland, while net profit from continuing operations "attributable to members" after tax declined 40.2% to $214.35 million.
Total net profit after tax and minority interests of the underlying business operations fell 15.2% from $295.14 million to $250.42 million.
Total revenue from continuing operations was $2.5 billion for the 2009 financial year, a decrease of 1.3% from last year's $2.53 billion. But Harvey said in a statement the company is looking forward to stronger growth in the current financial year.
"We have a strong balance sheet and cash flow and we are well placed to continue to grow our core business," he said in the company's annual report, which was released yesterday.
"While we hold the [number one] position in the markets of white goods and technology products, our market data confirms that we are dominant in the key product areas of audio, computers and visual products such as notebooks and flat panel televisions," he said.
"Strategies and directions are in place to maintain and grow this position in the 2010 financial year."
Harvey's comments come after new figures from the Australian Bureau of Statistics yesterday revealed that retail sales jumped 0.9% to $19.8 billion during August, after a decline in July as the effect of the Government's stimulus programs declined.
Harvey's own pay jumped 18% to $736,855, while his wife and chief executive Kay Page saw her base pay increase 36% to $947,375. But unlike last year, she did not receive a cash bonus of $500,000
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