Tabcorp Holding’s (TAH) core business is wagering and gaming in Australia. Tabcorp has the exclusive license in Victoria to sell totalizer bets through the brands TAB, Footybet and National Sportsbet. The gaming division owns and operates gaming machines in hotels and licensed clubs.

Tabcorp also owns and operates New South Wales only casino, Star City, plus Queensland casinos. After the Jupiters and TAB acquisitions, Tabcorp is the fourth largest global entertainment and gaming group.

Tabcorp has finally received approval from the Supreme Court of Victoria to split its business in two.

The company’s casino assets will be spun off into the separately listed company Echo Entertainment Group. Echo is expected to commence trading on Monday 6 June 2011 under the stock code EGP.

Tabcorp shares will continue to trade under the code TAH and will include the company’s wagering, gaming and keno business. Both companies are seen as takeover targets following the demeger, with Echo rumoured to be in the sights of casino business Crown Limited (CWN).

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Fortescue Metals Group (FMG) is an iron ore miner, with operations located in the lucrative Pilbara iron ore province in Western Australia.

The company is the third biggest iron ore miner in Australia behind BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) – two of the market’s leading blue chip stocks.

On 1 June, FMG CEO Andrew Forrest announced plans to step down from his role on July 18.

Forrest, who founded FMG in 2003, will assume the new role of company chairman at the board’s next meeting on August 18.

Chief Operating Officer Nev Power will become the new FMG CEO upon Forrest’s exit.

Separately FMG said it is targeting an annual iron-ore production rate of 155 million tonnes by mid-2013.  FMG was previously aiming to achieve the milestone by 2014.

The group said key contracts are in place and the strong price of iron-ore has provided it with the means to grow capital spending.

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Boral Ltd (BLD) provides building and construction materials in Australia, where it is the country’s largest supplier, as well as across the US and Asia.

On 11 May, BLD reaffirmed its full year profit guidance of between $160 million and $175 million.

BLD had weathered the impact of weather-related delays and a soft residential market in Australia.

The group was also benefiting from the soaring dollar, unlike some of its peers in the share market.

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Nufarm (NUF) produces agricultural fertilisers and chemicals used for crop protection internationally.

The company is also actively involved in the marketing and sale of branded, off-patent crop protection and seeds treatment products.

NUF was one of the shares to sell during the first half of 2010 amid poor results and earnings downgrades.

On 29 March, NUF reported a 1H11 operating net profit of $22.7 million.  This compares to an operating loss of $4.2 million loss a year earlier.

Including one-off costs and write-downs, Nufarm’s net loss came in at $40 million.  No interim dividend was declared.

Excluding glyphosate sales, group revenue rose 15% on-year to $694 million.  This was associated with a healthier gross margin as NUF sought to optimise its sales mix.

NUF was confident that positive climatic conditions in Australia and an improved operating environment will deliver a full year result significantly better than the prior year.

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