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The owners of embattled Gold Coast theme park Dreamworld have secured a multimillion-dollar loan to ensure the attraction can survive the economic shocks induced by the coronavirus pandemic. In a statement provided to the Australian Stock Exchange on Friday, Ardent Leisure said it had secured $69.9 million in funding from the Queensland Government as the park continues to grapple with lower admissions. Ardent Leisure said the additional funding would allow Dreamworld and WhiteWater World to reopen by mid-September.
Insurance Australia Group’s profits have more than halved with catastrophic natural disaster events and the onset of COVID-19 denting the company’s 2020 financial year performance. At June 30, the country’s largest general insurance underwriter posted a net profit of $435 million, a 59.6 per cent fall compared with 2019’s full-year result of $1.1 billion. IAG noted the hit to its profits was a result of significant events in the second half of the financial year, including the financial impacts caused by the coronavirus pandemic and increased natural peril claims from large-scale bushfires and storms.
The Board of Freedom Foods Group Limited (ASX:FNP) has appointed agribusiness executive Michael Perich as Interim Chief Executive Officer. Earlier, the company was in the process of a detailed review of its operations as part of ongoing business operations and business planning process. Presently, the review is still under process, and by now, it is clear that there is a need for executive ownership and accountability to implement the operational turnaround. With a deep understanding of the business, Michael Perich’s appointment shall provide the required stability, focus and leadership to handle the issues reported in the past.
#FoodsGroup #Australia #ASX #Kalkine
