Home' InDaily : August 27th 2010 Contents K & S CORPORATION (KSC)
K&S Corporation this week announced a net proÞt after
tax of $18.7 million, an increase of 3.2% on the previous
year. Management reported seeing a solid recovery in the
demand for logistics and transport services.
Operating revenues for the year reached $454.3 million,
an increase of 3.2% on the previous year. This reàected a
very strong second half performance given that Þrst half
operating revenues were $217.4 million.
In January 2010 KSC acquired the business of PaciÞc
Transport (PaciÞc) which contributed in excess of $10.7
million to its second half revenue growth. PaciÞc is focused
on the Perth to Broome and Derby regions of Western
Australia, seen by many as a future growth area, given
the expansion in mining activity in both the Pilbara region
and the North-West Shelf oil & gas region. A fully franked
dividend of 7c was declared, and we believe that at current
levels, the stock is a buy.
Sharebrokers and Investment Advisers
Telephone (08) 8217 3900
Warning (General advice only): Past performance is not a reliable
indicator of future performance. The recommendation in this
advertisement is made without reference to its appropriateness to
your investment objectives, financial situation and particular needs.
Before acting on this general advice, you should discuss with your
investment adviser the appropriateness of this recommendation to
your own specific circumstances.
August 27 - September 2, 2010
The Independent Weekly
Australia doesn t yet know
which party will form
Government, but for ousted
Labor senator Dana Wortley the
verdict was clear.
The ALP lost its third seat
to the Greens Penny Wright.
Senator Wortley will remain in
parliament until July 2011. Then
she ll pack her desk and leave
Canberra, likely to return to a job
in training and education.
The Independent Weekly
understands the outgoing senator
is in Adelaide, but she isn t
returning calls. Her husband,
Legislative Councillor Russell
Wortley, said yesterday that the
senator was "in her office" but her
office said it did not know where
Senator Wortley was bumped
down the ticket by powerful Right-
backed union man Alex Gallacher.
Left-aligned Anne McEwen held
the second spot on the ticket,
safely retaining her seat.
In 2004, backed by the Right
faction, Ms Wortley, then
state secretary of the Media,
Entertainment and Arts Alliance,
was pre-selected for the first
time to the third spot on the ALP
senate ticket. She was selected
in part because of the support
of Transport Workers Union
secretary Mr Gallacher.
Six years later and Mr
Gallacher is elated with his
elevation to the senate, although
it comes at the expense of "a very
"Life s a journey and I m not
taking a backward step. I received
the endorsement and I was given
the number-one spot and that s
the end of the story."
He hasn t called his friend
to offer commiserations. "But
I did run a reasonably good
after-election party and I thought
she would have been there," Mr
Gallacher said. "But it s no big
The senator-elect is likely
to continue in his position as
TWU secretary until after the
November union elections,
but there are rumblings from
within the union that he should
step down from his position
now. Instead, he s committed to
stepping down in January next
year, marking 23 years in the TWU
and handing over the post to a
candidate he s endorsed.
But Mr Gallacher is ready for
parliament, even if it s not ready
"I ll hopefully give an almighty
swing and beat anyone into
submission and get South
Australia on the map and get SA
jobs. I ll go into any forum, any
caucus, any committee for SA
and if they don t realise straight
away, they will in a week or a
It appears brute force will be
his method of keeping SA from
"laying behind" rather than
his predecessor s "subtle and
Old heads, young shoulders
The youngest South Australian
ever elected to federal
parliament, Andrew Jones,
has some words of wisdom for
young-gun Queenslander Wyatt
Roy, who snared the seat of
Longman for the Coalition last
"Think twice before you open
your mouth," Mr Jones advised
this week, "and don t make the
same mistakes I did."
Jones was 22 when he took
the seat of Adelaide in the 1966
election which saw the Coalition
win in a landslide result for
incumbent Liberal PM Harold
Jones had an 11 per cent swing
in Adelaide, unseating Labor s
Joe Sexton. But a redistribution
that brought the suburbs of
Gepps Cross and Kilburn into the
seat saw a swing back of 8 per cent
and Jones political career come
to just as swift an end. However,
he did leave an indelible mark on
Australian political history.
"Sadly, you can t put an old head
on young shoulders," Mr Jones
"Even though I had done three-
and-a-half years in the navy, I still
wasn t wise in the ways of the
world. I had plenty of people I was
able to turn to for advice, but such
is the ignorance of youth that you
don t always take that advice.
leads you to areas where you
shouldn t be. That said, I have no
regrets -- none at all."
When Jones was elected he had
already carved out a reputation
as an ultra-conservative during
his tenure as president of the
Young Liberals. He shocked the
political establishment when he
told a journalist that "half the
MPs in Parliament are drunk half
the time", a comment for which
he was asked to apologise in the
House of Representatives. He
did -- noting that half the MP s in
parliament were not drunk.
When Jones left parliament
he released an autobiography.
Andrew Jones MHR -- By Himself.
Local literary identity Max
Harris, who established the
Mary Martin Bookshop, belittled
the young MP by immediately
remaindering copies of the book
at two cents each.
Jones faded from political view
and began a career in Western
Australia working in transport
with the Bell Group and then
TNT before moving to industrial
relations and human resources
with Santos at Moomba. Now 66,
he s back in Adelaide, where he
runs Business Class Corporate.
"I wish young Wyatt Roy
well," Mr Jones said of the
Queenslander who has now
overtaken his position as the
youngest MP elected at a general
election. "It s a privilege to sit
in the parliament and represent
the people of your electorate. It is
also a great opportunity to make
a meaningful contribution to
"Hopefully, he can learn from
my past mistakes and takes things
slowly and carefully."
Other young MPs include SA
Greens Senator Sarah Hanson-
Young, who was 25 when she
became the youngest person
elected to Australia s Senate in
MEANWHILE, in the Lower House,
the status is quo -- but not quid pro quo.
Party insiders say Liberal Chris Pyne
spent more money on his campaign
than all but three or four conservatives
in any electorate in any state.
He increased his margin. As The
Independent Weekly forecast, no SA
seat changed, although -- again as
The Independent Weekly predicted
-- Andrew Southcott got the fright of
his political life. With 86 per cent of
the vote counted, Southcott yesterday
declared victory. He survived a 2 per
cent swing against the Liberals in a
seat he held by a 3 per cent margin.
"I don t shy away from the fact that
I ve got some work to do," he said
yesterday. "I ll be working very, very
hard over the next three years."
Southcott s win could have national
implications. If the Liberals end
up with more seats than Labor,
Tony Abbott will claim that the
independents should support the
Coalition (see Tom Richardson, page 7).
And while the entire country is now
focussed on who the next prime
minister might be, the focus has
shifted away from the River Murray,
the fate of the Lower Lakes and
Federal Water Minister Penny Wong s
promise of more water buybacks at
Bob Katter and the other
kingmakers (or queenmakers) will
inspect the Murray and even deign to
talk with river communities, but the
balance of power will be held by MPs
for whom the plight of Old Man River
is an afterthought.
"We have to be realistic about
what we can achieve," Penny Wright
says about the Murray. "I always ask
whether our grandkids will thank us
for the decisions we make now."
We ll have to wait a generation or
more to answer that question. And in
the meantime, South Australia will be
the only state ever to have in the Senate
one Wright and one Wong.
From Page 3
The Wright stuff
Labor's Dana Wortley.
Andrew Jones was 22 when he won
Photo: Paula Alexander Queensland young gun Wyatt Roy.
Photo: Paul Harris
Life s a journey
and I m not taking
a backward step.
I received the
endorsement and I
was given the number-
one spot and that s the
end of the story.
-- Alex Gallacher
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