Commonwealth Bank continues to face a backlash among home loan customers, with the banking major

seeing its satisfaction banks, undermining their efforts last year to win over customers througratings slip
further during January.
The moved capped off further losses for most of the major h a series of cuts to fees.
National Australia Bank managed to hold its ground in terms of customer satisfaction during January. While
NAB continues to lag its rivals on satisfaction, it has made the most gains over the past 12 months
mostly on the back of using discounted mortgages to win over customers. The latest customer
satisfaction figures don't take into account NAB's recent aggressive marketing push, where the bank
said it was ´breaking-upµ with its rivals.
ANZ led the major banks lower falling 1.2 percentage points, outpacing CBA's 0.8 percentage point fall,
figures complied by Roy Morgan Research show.
For ANZ most of the fall came from non-home loan customers while the CBA fell further with their home loan
customers.
CBA came under fire in November when it lifted its standard mortgage rate by 45 basis points, almost
double the increase in the cash rate announced by the Reserve Bank.
The drop in satisfaction means more than a loss of pride for CBA. About half its executives have long-term
bonuses worth millions of dollars linked to improved ratings.
ANZ continues to lead the major banks on satisfaction with a rating of 75.4 per cent at the end of January.
Westpac, which last year overtook CBA for the second spot in satisfaction, dropped 0.2 percentage points
in January to 74.1 per cent.
CBA is third at 72.7 per cent, while NAB which rose 0.1 percentage points during January is 71.8 per cent.
Bendigo Bank and Members Equity are equal highest ranked of the banks both on 87.1 per cent.
CBA's decision on interest rates is clearly starting to bite with home loan customers, where satisfaction is
down 7.5 percentage points since October.
The reaction of the other major banks' home loan customers has been far less severe with the ANZ down 1.1
percentage points over the same period. Westpac's ranking among mortgage customers is down 1
percentage points while NAB is up 0.2 percentage points.
The loss of polularity can seriously affect sales
and profit, especially with banks as an
incredibly large number of people are with
a bank and opinions on popularity can
travel extremely quickly throughout alot of
people. This issue is both internal and
external, in the fact that the popularity drop
is an external cause, however the reason
that the popularity dropped is an internal
one. The loss of customers due to popularity
is quite a hurtful loss as the competing
businesses usually gain these loses, feeding
them more profit and you less.
NAB customers who made purchases or moved money between accounts during the bank's computer system failure late last
year may still have errors in their accounts, according to a document obtained by BusinessDay.
Although NAB has fixed duplicate transactions caused by its own error, the internal document shows customers who reacted to
the computer breakdown in November by repeating transactions may still need to inform the bank of any unintended
transactions. ´We are unable to clearly identify where customers have tried to correct their own account,µ according to a
document called Interest and Fee Refunds Processing Issue.
The statement is in answers to an internal question: ´My customer moved money around between their accounts in an attempt to
correct - how are we ensuring they are not out of pocket?µ
NAB suffered a failure of its mainframe computer system for customer transactions ² known as its core banking system ² from
November 24 to December 7.
The failure, triggered largely by human error, made NAB customer accounts inaccessible for days and forced the bank to open
branches beyond normal hours in order to give customers access to their funds.
A spokesman for NAB today said the current issue is only for customers who haven't yet come forward to explain intentions behind
their purchases or money transfers made at the time of the outage.
´Where a customer has initiated multiple payments or transactions, it is only the customer who is able to advise us if they intended
for the payments to be made multiple times or only once,µ said spokesman George Wright.
In some instances customers repeated transactions because they realised that the first transaction was not processed correctly,
Mr Wright said. ´Where customers have advised us that this has occurred, we have worked with them to rectify it,µ he said.
Since December NAB has ´reimbursed the vast majority of customers who have suffered any financial loss as a result of the
processing issue,µ said Mr Wright.
_
  

The internal document, updating customer service workers on the latest progress of the computer problem saga, was dated
February 25, and marked ´for internal use onlyµ. It also outlined NAB criteria for repayment rates.
The bank said it would use a 20 per cent per year interest rate refund rate on most consumer accounts.
´Interest is being determined based on transactions, rather than the customer's account balance,µ the document said. ´We will
be refunding reference fees incurred on impacted business accounts between 24 November and 7 December 2010.µ
The bank said a minimum interest adjustment payment of $1.00 will be credited.
´We will not be recouping any favourable interest credited to customers or where debit interest was less due to a favourable
account position,µ the document stated.
NAB said, however, no interest adjustments have been made to accounts where customers have financially benefited from the
processing issues.
Separately, sources close to the bank said NAB had formed an internal task force called La Renaissance to investigate on the
cause of the outage late last year.
The document says NAB is ´reviewing all events related to this incident and are committed to taking all necessary actions to
prevent this from happening again.µ
This glitch cost NAB quite alotin many different aspects
over the period that their atm machines were faulty.
One of the main costs was that instead of simply
having atm machines for after hours, NAB had to
employ more staff after hours in order to keep the
customers happy. This cost them more money while
their competitors continued without a problem. This
event may have also lead to some distrust and
negative feedback or popularity from their
customers, which would also hurt their sales. This issue
was internal however it was somewhat unavoidable
as technology has a tendancy to fail if not
implemented correctly
'BE Insurance Group Ltd has posted a 17 per cent drop in full year net profit but expects a higher insurance
profit margin in 2011.
'BE said net profit for the year to December 31 was $US1.28 billion, down from $US1.53 billion in calendar
2009.
There was a substantial reduction in net investment income in 2010 due to under-performance of its equity
portfolios and lower interest yields on its cash and fixed interest portfolios, the company said.
The full year insurance profit margin was 15 per cent, outside 'BE's target range of 16 to 18 per cent.
That was because of lower investment yields on lower insurance funds, increased premium taxes and the
high frequency of weather related and earthquake catastrophe claims, the company said.
'BE has forecast an insurance profit margin of 15 to 18 per cent in 2011.
It declared a final dividend of 66 cents per security, 10 per cent franked.
Net earned premium in 2010 was $US11.4 billion, down 20 per cent from the previous corresponding period.
'BE has forecast net earned premium growth of between 22 per cent and 25 per cent, based on
profitability from acquisitions and new reinsurance arrangements.
Gross earned premium is forecast to grow by 19 to 22 per cent.
The gross investment yield was 2.9 per cent in 2010, down from 4.5 per cent in the previous year.
'BE has forecast a gross investment yield of 3.3 per cent to 3.5 per cent in 2011.
"We have upgraded our premium growth targets following a further review of recent acquisitions and new
distribution channels," chief executive Frank O'Halloran said.
"The acquisitions and other initiatives in place to increase profitability are likely to see our insurance profit
increase by a minimum 22 per cent in 2011.
"Our targets are subject to the usual caveats relating to claims, interest rates, equity markets and foreign
exchange as well as receipt of regulatory approvals for recent acquisitions."
Insurance is a risky business, and the
businesses are still expected to pay out
even if they have lost a considerable
amount of money. The many external issues
that threaten australian businesses have
recently unleashed their powers upon
Australia, causing many to claim their
insurance, costing 'BE quite alot of money.
This could however be good in the long run,
as it could attract more customers due to its
loss in profit to help its customers
SUPERMARKET giants Woolworths and Coles are pushing
corner shops, milk bars and cafes out of the market by
selling milk at $1 a litre, an opposition backbencher says.
'ueensland Liberal MP Scott Buchholz told parliament small
businesses in his electorate had suffered a 30 per cent
drop in trade since milk became available for $1 a litre in
the big supermarkets.
He said dairy farmers were also suffering and the nation
needed to ensure big business did not destroy small
business, including dairy farmers.
"We operate in a free market and it's the right of any
company to turn a profit ... but not at the hands of smaller
business," Mr Buchholz said.
He said farmers were struggling to make ends meet and they
needed to be protected along with corner shops, milk
bars and cafes.
Big businesses such as Woolworths and Coles
are hurting other businesses with their low
prices on products compared to their
competitors and will eventually push them
out of business. While these low prices might
be good for the customers now, ultimately
we will lose the small businesses that keep
this competition, because if these smaller
business go the larger companies will
become a monopoly, giving us no choice
in the prices they set, and no lower prices to
find.
COMPLAINTS about phone and internet companies jumped by 9 per cent late
last year despite promises that telcos would improve customer service.
The increase has been attributed mainly to frustrated Vodafone customers.
The Melbourne suburb of Doreen inexplicably has the country's worst service,
with nearly 13 complaints per 1000 compared with seven complaints per
1000 residents in Docklands and Chippendale, Sydney, the next most
complained-about suburbs.
Of 83 complaints by Doreen residents between last July and December, most
were about mobile phone bills and mobile coverage, followed by
complaints about landline connections, faults and billing. The
Telecommunications Industry Ombudsman (TIO) says the area's population
has grown rapidly in the past four years.
Around the country, 87,264 individual complaints were made in the six months,
6957 more than in the first half of the year, according to the TIO's latest
update. Of these, 5370 were from Vodafone customers complaining about
poor reception, long waits, broken promises and difficulty contacting the
company.
''I am frankly disappointed with the increase,'' Ombudsman Simon Cohen said.
''While there have been some specific issues with « Vodafone, we haven't
continued to see a decrease from our other providers.''
These complaints are largely Vodafone's fault,
as they haven't done anything about the
poor reception. This issue causes Vodafone
to lose customers and as a result, profit.
Since Phone manufacturers generally sell
their phones with the Service provider,
Vodafone's loss of customers also affects
them. This could caus them to stop selling
their phones to Vodafone, hurting their
business even more
PENNY-PINCHING on its cost base, from energy use to the number of times staff handle fruit and vegetables, has not
been enough to stop Woolworths recording its slowest rate of profit growth in more than a decade.
Hampered by rapid falls in the price of food, electronics, liquor and apparel, Woolworths yesterday posted a 6 per
cent rise in first-half net profit to $1.16 billion as group revenue rose 4 per cent to $28.3 billion.
This marked the softest profit growth for Woolworths in 12 years and ended its decade-long record of double-digit
earnings increases.
Woolworths yesterday reaffirmed its guidance of 5 to 8 per cent profit growth for this financial year.
As it awaits a shift in the fortunes of the national economy and a return to the historic inflation trend, Woolworths has
widened its growth options by paying $340 million for leading mail-order wine business Cellarmasters and
stepped up activity in its growing hardware chain, due to open this year.
Woolworths shares initially retreated on news of the interim earnings result, but closed 35¢, or 1.3 per cent, higher at
$26.85 as chief executive Michael Luscombe painted a more positive picture of trading over the first two months
of this year.
''So the first eight weeks in all of our businesses we've improved our sales running rate, except for one, over the rate
that we were achieving for the half and in December in particular,'' he said.
Despite the positive momentum since the Christmas sales period, Mr Luscombe said growth would be hampered by
unprecedented price deflation combined with a greater than expected drag on discretionary spending
caused by higher interest rates and weak consumer confidence.
''Deflation, quite frankly, is something I can't remember the last time I experienced it in my retail career,'' Mr Luscombe
said.
''The deflation effect has been intensified by a sustained strong Australian dollar and high levels of price competition.''
He said that overlaying these extraordinary economic conditions was unseasonal weather in the December quarter.
Woolworths' flagship apparel and merchandise business, Big W, recorded a 17.1 per cent fall in earnings before tax
and interest to $125 million.
Sales for the division were down 2.8 per cent to $2.39 billion.
Woolworths declared a 7.5 per cent increase in interim dividend to 57¢ a share - with a record date of March 25 -
payable on April 29.
Woolworths declining rate of profit is
affected by many issues, allot of which
aren't really mentioned in the article
above. Most of these are probably small
internal issues that have built up to
destroy this companies profit. As a result
Woolworths have had to cut costs in
almost all areas which could reflect in
quality of goods and services in there
business, and result in a loss in customers.
THE worst fears of the nation's leading bricks-and-mortar retailers - that customers are increasingly deserting them for the internet - have been
realised after the world's biggest online retailer pinpointed Australia as one of its fastest-growing regions.
eBay chief executive John Donahoe has singled out Australia as one of the United States-based online auction website's high-growth markets,
trouncing the average turnover for the company's operations.
In a briefing with analysts to discuss eBay's fourth-quarter earnings performance, the CEO of eBay nominated Australia as a standout business
among its sprawling retail activities. eBay has nearly 100 million online users and shoppers.
Mr Donahoe said that in 2010 eBay lifted its global revenue by 9 per cent and gross merchandise volume by 11 per cent.
But he added that Australia, along with Britain and South Korea, had grown faster than that.
eBay chief financial officer Robert Swan also mentioned Australia as generating premium sales growth when discussing the online internet
retailer's international performance for the quarter.
The acknowledgment at eBay headquarters about the booming Australian business is certain to feed into the ire of local retailers who believe
their sales are leaking to popular online sites such as eBay, Amazon and others.
Last month a coalition of traditional retailers led by businessmen Gerry Harvey, Solomon Lew and department store owners Myer and David
Jones launched a public campaign to clamp down on what they view as a loophole that allows GST-free purchases on the web to a
value below $1000.
They blame the tax-free threshold in part for accelerating the exodus of shoppers from their bricks-and-mortar shopfronts to the internet, saying
the $1000 tax-free threshold available on the net - from overseas retailers - puts them at an unfair disadvantage.
The Retail Coalition, taking in Mr Harvey's Harvey Norman business, Mr Lew's family and public companies such as Just Jeans, Portmans and
Smiggle, Jacqui E, and stores Myer, David Jones and Borders, has taken out full-page newspaper ads drawing attention to the tax issue
and has called for reform.
Some of the retailers have also blamed online retail sites for gutting their business and threatening the jobs of Australian retail workers. The anger
peaked in the lead-up to Christmas with Mr Harvey singling out internet sales as swamping the gift-giving season.
A better picture of how retailers performed over December will begin to emerge today when Woolworths, the nation's biggest supermarket
chain, releases its second-quarter sales figures. Apart from its flagship food and grocery supermarkets, it also sells electronics and home
entertainment through Dick Smith and a range of merchandise through its Big W chain.
RBS analyst Daniel Broeren said his survey of retailers showed that the apparel, electronic and hardware segment reported December like-for-
like growth of minus 3.6 per cent, minus 4.2 per cent and minus 3.8 per cent respectively.
As expected, the fashion apparel and audio-visual categories proved the most challenging over December and the second quarter.
''The apparel segment, in particular, had a notable inventory build-up post Christmas - a concern given its short lifecycle. However, while
December sales have been soft, gross margins across all segments have been surprisingly robust, particularly in the electrical segment,
which has seen a positive margin trend,'' Mr Broeren said.
''Woolworths' exposure to discretionary spending remains comparatively low. However, we lower our earnings slightly, reflecting the challenging
apparel market and the likelihood that Dick Smith will underperform what was a reasonably challenging market «''
Investors will also look to Woolworths for guidance on increases in fruit and vegetable prices caused by the 'ueensland floods.
Even though internet shoping saves us all time
and money, it is hurting the brick and
mortar businesses that do not have the
technology or funds to advance to internet
shopping. Internet shopping could
potentially run these local retailers out of
business, and larger businesses wont have a
need for actual shops, leaving us with only
internet shopping, and even though
internet shopping is good, we still need the
actual stores that we can walk in, and
decide for ourselves what we want.
The flood-stricken coal industry is facing lengthy disruptions, with one miner saying it could take weeks to drain its pits of water and coal ports stopping export
shipments.
Floods swamped coking coal mines in 'ueensland in December, paralysing operations that produce 35 per cent of Australia's estimated 259 million tonnes of
exportable coal. Australia accounts for two-thirds of global coking coal exports, which are needed to make steel.
About 200,000 people scattered across an area the size of France and Germany combined have been affected by the flooding in 'ueensland. Damage from
the floods, the worst in the state in 50 years, has been estimated at $5 billion.
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=



 
 
Gladstone, one of 'ueensland·s largest coal terminals, has stopped exports and the largest in the state is at just 60 per cent capacity, ripping nearly two million
tonnes of coal a week from the global supply.
About 40 mines in 'ueensland have been affected by flooding and several have said they cannot meet their contracts.
The Blackwater coal rail system is inundated, cutting off the major supply line to the port of Gladstone in central 'ueensland, the fourth-largest coal export
terminal in the world.
¶¶We are not getting any coal from the Blackwater line, so we are not receiving any coal at the moment,·· a spokeswoman for Gladstone port said today. ¶¶We
can·t ship coal out.··
The terminal normally exports 1.3 million tonnes of coal a week. Staffing has dropped by 50 per cent and others are being encouraged to take leave and help
families that may have been affected by floods. Other coal terminals have also been hit hard.
The Dalrymple Bay coal terminal, 'ueensland·s largest, has been running at between 60 and 70 per cent capacity since January 1, spokesman Andrew Garratt
said. ¶¶It·s certainly an impact to global supply and an impact on miners,·· he said.


 
 
London-listed Anglo American, one of the nation's top four miners of steel-making coal, said it was preparing to pump water out of its flooded mines but that it
was too early to say when its collieries could resume operation.
"Our focus is currently on mobilising our people and other resources and de-watering flooded coal pits, which we estimate will take some weeks," Seamus French,
head of the group's metallurgical coal division, said in a statement.
Anglo has about seven coal mines in 'ueensland, which accounts for most of Australia's coking-coal exports.
Anglo's major rivals, Rio Tinto, Xstrata and BHP Billiton, have also been hit by the floods, and all have made force majeure declarations, which companies can
evoke to temporarily release them from delivery obligations.
The flooding is already receding in some coal fields, but all four major producers still face supply disruptions and cannot say when operations would return to
normal.
"It's impossible to say at present (how long coal operations will be down). If there are no further weather events, things could be back to normal within a month,
however we are only at the start of the wet season," Colin Hamilton of Macquarie Commodities Research in London told Reuters in an email.
In 2008, flooding kept some mines out of action for as much as six months, but others were able to start producing within four to six weeks, said Andrew Harrington,
an analyst at Patersons Securities in Sydney.
Mines then turned up output to recoup losses and ended the year about 10 per cent below where they otherwise would have been.
"This time around, it's happening a lot earlier, it looks a lot worse, and we're still seeing more rainfall," said Harrington.
  

Floodwaters have begun to slowly recede in some districts in 'ueensland, but were still rising in some areas further south, including around the town of St George.
In Rockhampton, a cattle town of 75,000, muddy flood waters had dropped a few inches overnight despite more heavy rains but it will take days before
a cleanup can begin. On pockets of higher land, camels and horses grazed on people's front lawns, while residents relied on boats to fetch supplies.
The majority of homes are built on stilts in the flood-prone area, so water had not entered living spaces in most cases and generators were providing power.
Hospitals in central 'ueensland have also been stockpiling anti-venom, media reported, after snakes sought refuge in homes, including the deadly brown snake.








Three people have been killed in the floods and hundreds left homeless. The economic cost of the inundation, which some scientists are linking to global warming
and rising sea temperatures, is already estimated at around $5 billion.
Roads, rail lines and bridges have been submerged, and authorities are waiting for the waters to recede before they can assess how much vital infrastructure
needs rebuilding.
Australian stocks have been trading flat over the past days, undermined in part by worries about the impact of flooding on mining profits.
Dalrymple Bay Coal Terminal, in the country's largest coal export port, was getting coal from inland mines today, but warned future deliveries could dry up unless
mines started reopening by the weekend.
"If there is an issue with mine production and we are drawing down our stockpiles, it's only a matter of time before we exhaust those," said Dalrymple spokesman
Greg Smith.
"It will be Friday or so before we would start to get an indication - if the trains we send up to mines are cancelled," he added. Typically the port receives about
230,000-240,000 tonnes of coal daily from mines.
"If we can't get it in, we can't ship it out."
'R National , the country's biggest coal freight business, said on Thursday it was ramping up operations on a reopened rail line, enabling more coal to reach the
coast, but problems remained elsewhere on its flood-hit network.
A 'R National spokesman said more tonnage was reaching Gladstone port on its Moura line, which services Anglo-American's Callide and Dawson mines as well
as Cockatoo Coal's Baralaba operation.
But 'R National's Blackwater line remained closed, impacting operations for Wesfarmers , BHP Billiton, Xstrata and Rio Tinto.
"The Blackwater coal system remains closed and we are currently waiting for the flood waters to recede. That's expected to go well into next week," the
spokesman said.

  

Meanwhile, Asian steelmakers are bracing for higher coking coal prices.
Prices may increase by up to 33 per cent to between $US270 and $US300 a metric tonne, analysts from Macquarie Group, Morgan Stanley and Daiwa Capital
Markets said.
Mills agreed to pay $US225 a tonne for the three months starting January 1, Bank of America Merrill Lynch analysts said last month.
´'ueensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis,µ Alex Tonks, a commodity strategist at Bank
of America Merrill Lynch in Sydney said. ´A lot of operations have been impacted. It certainly looks pretty bad at this stage.µ
Floods are an external threat to businesses
everywhere that have their stock on site.
The floods threaten to destroy this stock and
the property used by the business, making
floods a serious hazard for any shop.
However the unpredictability of these
floods (and of course other natural
disasters) forces the business to buy
insurance for the given disaster, costing
them more money. Either way they still lose
their stock for a period and therefore some
profit is also lost.
FLIGHT CENTRE expects margins from its retail travel businesses to remain under pressure for the rest of this
financial year as consumers hunt for bargains.
Australia's largest travel agency boosted net profit by 38 per cent to almost $71 million for the six months to
December 31 but warned it would be a near impossible task to achieve the growth of last financial
year, when demand rebounded after a slowdown caused by the global financial crisis.
Echoing comments from airlines and other travel companies, Flight Centre said the leisure travel market was
not experiencing the same level of optimism as it did in the last quarter of 2009-10.
Flight Centre's chief financial officer, Andrew Flannery, said its retail business had suffered a contraction in
gross margins in the first half, and he conceded that it would struggle to match the strong growth last
year.
''People are still prepared to spend but they are very much looking for value,'' he said. ''The leisure market is
still generating very good profits « but we are seeing a more discerning and value-seeking consumer.''
Mr Flannery said the compression in retail margins was largely due to Flight Centre not being able to
increase ticket prices substantially because of strong competition in the travel industry.
In contrast, he said the corporate travel market had experienced a strong recovery and Flight Centre
expected that to continue in the second half of this financial year.
Flight Centre has kept its guidance for pre-tax profit for the full year at $220 million to $240 million, a rise of
between 10 and 20 per cent on the previous year.
Despite the flooding in 'ueensland and a revolution in Egypt, Flight Centre said it had largely been
unaffected by those events because travellers postponed holidays or booked alternative destinations
rather than cancel their trips altogether.
Its total transaction value, the price at which travel products and services are sold, rose 12 per cent to $5.7
billion in the first half. Flight Centre's biggest market, Australia, was again its strongest performer, thanks
in part to a strong Australian dollar encouraging people to take overseas trips.
The company again called for fuel surcharges to be included in the base fares of tickets following a slew of
increases in the levies from airlines including 'antas and Virgin Blue in the past month.
Shares in Flight Centre fell as much as 3 per cent in early trading yesterday but later recovered to close 23c
higher at $23.65.
Constant pressure from competing businesses
can severely hurt a company, especially if it
is focused on leisure, not value. Although
some customers are still looking for this
leisure, many are looking for a bargain. This
forces businesses like Flight centre to try to
make a compromise between lower price
and less luxury, without completely
changing itself, as this would confuse
customers and probably lose more. This is
quite uncontrollable and unavoidable by
the company on the recieving end of a
competitor lowering its prices
h
hh

 
  
 
  




 

  
  

 
  
!" #
Kathmandu, which is based in Christchurch, issued a market update yesterday, following the earthquake,
which affected a number of company facilities in the area.
Two damaged stores would remain closed indefinitely, Kathmandu said, which meant it would not be able
to assess the overall recovery of losses there yet.
The company says it has business interruption insurance that provides cover for loss of profits, overall trade,
increased cost of working and claims recovery.
"Currently, the company is not aware of any reason why its insurance would not cover all material costs or
loss of profits in the current financial year that may be incurred as a result of the earthquake," the
company said.
Start of sidebar. Skip to end of sidebar.
End of sidebar. Return to start of sidebar.
The group's head office was operational but its New Zealand distribution centre required some remedial
work, which was expected to be completed on Monday, the company said.
The company's largest Christchurch store, Tower Junction, had reopened on Friday, but its Riccarton store
and the central city store in Cashel St remained closed.
Kathmandu's chief executive officer Peter Halkett said he anticipated the Cashel St store to remain closed
for "an extended period".
"We have been unable to have our Cashel St and Riccarton stores inspected so far and we can't therefore
comment specifically on the degree of damage they have sustained," he said. All other stores remain
open and unaffected except for some delivery delays.
Kathmandu said it had experienced total group sales "ahead of management expectations" between
January 19 and February 27.
There had been "positive year-on-year same store sales growth...in both NZ and Australia". Kathmandu
expects to release first-half results for the six months to January 31 on March 17.
Shares in the company closed flat at $1.50 after moving between $1.48 and $1.52.
Even though this Business didn't sustain allot of
damage, the topic of earthquakes is still a
valid one. Unlike floods, earthquakes have
a smaller chance of ruining stock (however
there is still a chance), however they have
a higher chance of destroying property
owned by the business. Like floods they are
unpredictable and demand insurance. The
Aftershock of an earthquake and many
other natural disasters, can also cause the
local public to stop buying completely
unessential goods, which could hurt some
businesses
 




 

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