Amazon to build a robot warehouse in western sydney | ASX Market Update

  • Jun 30, 2020 AEST
  • Team Kalkine

Employment in Australia is picking up gradually after the massive losses triggered by COVID-19 lockdowns. According to the Australian Bureau of Statistics (ABS), between mid-May to mid-June, the total payroll jobs rose by 1.0%, although they were still 6.4% down by mid-March. The recovery in payroll jobs between mid-April to mid-June signifies about 30% of the employments primarily lost. Moreover, between mid-May to mid-June, the easing in lockdown restrictions witnessed payroll jobs rising rapidly for the under 20s, up by 4.1%.

Collins Foods shares have jumped more than 17 per cent after the company said its underlying full-year profit rose 5.1 per cent to $47.3 million. Revenue for the 53 weeks to May 3 climbed 8.9 per cent to $981.7 million, as Australians flocked to its trusted KFC brand during unsettled times. Its statutory profit was down 20.1 per cent to $31.3 million, mainly reflecting the impact of new accounting standards regarding leases. Chief executive Drew O'Malley said that KFC Australia has once again shown that it is a safe and trusted brand that customers can rely on during uncertain times. At 1136 AEST, Collins Foods shares were up 17.3 per cent to $9.81.

Online retail giant Amazon is building one of the largest warehouses in Australia in its latest efforts to expand its operations in the country. Construction on the 200,000 square metre robotics fulfilment centre has already begun at Kemps Creek in Sydney's west, close to the under-construction Western Sydney airport. The advanced storage and distribution facility is expected to create 1,500 warehouse jobs, in addition to 700 jobs during its construction. Amazon has opened more than 50 robotics fulfilment centres around the world but this will be the first in Australia.

#Amazon #Employment #Australia #Kalkine

 


Disclaimer
The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK