Midway (ASX:MWY) 1H19 results & outlook

Midway (ASX:MWY) 1H19 results & outlook

Midway Limited (ASX:MWY) Managing Director and CEO Tony Price talks about the company's 1H19 results, performance of its acquisitions, strategy and outlook. Anna Napoli: Hello, I'm Anna Napoli for the Finance News Network and joining me now from Midway (ASX:MWY) is Managing Director, Tony Price. Tony, welcome to FNN. Tony Price: Thanks, Anna. Anna Napoli: First up, can you start with an introduction to the company? Tony Price: Midway Limited (ASX:MWY) is an integrated forestry business. The only one, fully integrated forestry business listed on the stock exchange. And by integrated I mean that we operate from on the cradle to grave basis. And that means that we plant trees, we tend trees, we harvest them, we take them to processing facilities, we market them, and then we also in some cases deliver the product all the way to the customer. We're one of the biggest exporters in Australia. And most of our product is delivered to customers in China and Japan. Anna Napoli: Let's talk about your first half 2019 results. What were some of the highlights? Tony Price: We basically generated a revenue of about $124 million. Which was up 45 per cent on the previous half year. That delivered an EBITDA of $12.2 million. Which was up 88 per cent. So all in all we had a good year. That was driven by a significant increase in sales price and also the tailwind of foreign exchange. Anna Napoli: Now to your operations. Can you tell us more, starting with production? Tony Price: We've got operations throughout Australasia. We have an operating business that manages plantations on our behalf and also on behalf of third parties. We also have a number of processing facilities, Queensland and two in Victoria. And more recently we've developed operations in Tasmania and also Western Australia. Anna Napoli: And how about pricing? Tony Price: Pricing has moved upwards significantly in the last two years. So 2018 calendar year, we were able to achieve 8 per cent price increase with our produ...
World News - Christchurch shootings: New Zealand to 'confront' Erdogan over remarks

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New Zealand's Prime Minister Jacinda Ardern said on Wednesday that Foreign Minister Winston Peters would travel to Turkey to "confront" comments made by Turkish President Recep Tayyip Erdogan on the Christchurch mosque shootings . In the wake of the twin attacks, which saw 50 killed and dozens injured, Erdogan said Turkey would make the suspected attacker pay if New Zealand did not. Some saw the move as an attempt to drum up support for his Islamist-rooted AK Party in March 31 local elections. Ardern added: "I do want to acknowledge we had a delegation from the Turkish government arrive very soon after (the attacks) to bring a message of solidarity to New Zealand and to those who have been affected by this terrorist attack." She made the comments at a news conference held after meeting with first responder paramedics where she thanked them for their actions in reaction to the shootings. Australian Brenton Tarrant, 28, a suspected white supremacist, was charged with murder on Saturday after a lone gunman opened fire at the two mosques during Friday prayers. The bodies of 30 victims had been approved for release to be reunited with their families, Ardern said. Burials for the victims began on Wednesday morning amid aggravation over the delay, as under Islam bodies are usually buried within 24 hours.
First funerals for victims of NZ's mosque attack

First funerals for victims of NZ's mosque attack

A father and son who fled the civil war in Syria for "the safest country in the world" were buried before hundreds of mourners Wednesday, the first funerals for victims of shootings at two mosques in New Zealand that horrified a nation known for being welcoming and diverse. The teen was a student at Cashmere High School and was compassionate and hard-working, according to the principal, who added the youngster was an excellent horse rider who aspired to be a veterinarian. Hamza's younger brother, Zaed, 13, suffered gunshot wounds to the leg in the attack and was seen being pushed around in a wheelchair during Wednesday's burial ceremony. Hundreds of people are at the services in Christchurch. Authorities spent four days constructing a special grave at a city cemetery that is designated for the Muslim burials. An Australian white supremacist killed 50 worshippers in two mosques last Friday. Four other victims: Junaid Ismail, Ashraf Ali, Liluk Abdul Hamid and another victim, whose identity has been suppressed by court order, were also buried with Islamic rites at the Memorial Park Cemetery Wednesday.
2mins
Burials begin for New Zealand mosque shooting victims

Burials begin for New Zealand mosque shooting victims

A father and son both wrapped in white. These are the first of fifty victims to be buried after New Zealand's deadly shooting. On Wednesday (March 20), the two were carried in open caskets on the shoulder of mourners to their freshly dug graves in a Christchurch cemetary, and laid to face Mecca. Heavily armed police stood watch but with flowers tucked into their revolver holsters and rifles. In Islam, bodies are usually buried within 24 hours, but there have been delays as police continue their investigation into Friday's events. New Zealand's worst mass shooting has been called a terror attack by New Zealand's Prime Minister Jacinda Ardern. She visited a Christchurch high school on Wednesday, where two boys had been killed in the attack.
2mins
Lipstick on a... cow?

Lipstick on a... cow?

Beauty treatments are not reserved for humans. DW visits a beauty pageant for dairy cows, and talks to a stylist who makes his clients udderly beautiful. The winners are not just cute but also very valuable as great mothers and milk machines.
 - Midway (ASX:MWY) 1H19 results & outlook
Midway (ASX:MWY) 1H19 results & outlook
World News - Christchurch shootings: New Zealand to 'confront' Erdogan over remarks
World News
Christchurch shootings: New Zealand to 'confront' Erdogan over remarks
 - First funerals for victims of NZ's mosque attack
First funerals for victims of NZ's mosque attack
 - Burials begin for New Zealand mosque shooting victims
Burials begin for New Zealand mosque shooting victims
 - Lipstick on a... cow?
Lipstick on a... cow?

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