Harvey Norman pleased with Christmas trade

Retailer Harvey Norman achieved sales growth in the first half of the financial year. Source: AAP

ELECTRICAL and homewares retailer Harvey Norman has lifted its half year profit by 36 per cent, as it overcame a tough retail market to grow sales.

Harvey Norman made a net profit of $111.4 million in the six months to December 31, up from $81.9 million in the same period in the previous year.

When changes in the value of its properties are excluded, the company's profit for the half year grew by 3.6 per cent to $117.5 million.

Global sales also rose by 3.6 per cent, to $2.99 billion.

Australian sales rose by a modest 1.4 per cent over the six months, buoyed by strong figures over the Christmas period.

Sales in New Zealand were up by 15, due in part to a stronger New Zealand dollar.

Chairman Gerry Harvey said the retailer managed to grow its sales and profit in an environment where consumer spending was relatively soft.

Harvey Norman franchises achieved 3.6 per cent sales growth in December, compared on a like-for-like basis to the previous December, he said.

"That's a pleasing set of numbers for the important Christmas trading period," Mr Harvey said in a statement.

The company's growing property portfolio, worth almost $2.3 billion, had also provided the company with stability, he said.

"To my mind, our ownership of real property is an absolute competitive strength when compared with the intangibles and goodwill that figure prominently on the balance sheets of many of our competitors."

Harvey Norman will pay a fully franked interim dividend of six cents per share, up from 4.5 cents in the previous year.

Its shares were up 3.5 cents, or 1.1 per cent, at $3.165 at 1315 AEDT.

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WA Senate election to be held on April 5

The re-run of last year's Senate election in Western Australia will be held on Saturday, April 5. Source: AAP

WESTERN Australia will go back to the polls on April 5, after the state's governor Malcolm McCusker confirmed the date of the re-run of last year's Senate election.

After meeting with WA Premier Colin Barnett and electoral affairs minister Peter Collier on Friday, Mr McCusker revealed the date of the election.

The September 2013 result was declared void by the High Court after some ballots were lost.

The High Court, operating as the Court of Disputed Returns, ordered the fresh poll following the loss of 1370 votes, discovered during a recount requested by Greens Senator Scott Ludlam, who narrowly lost out in the initial count.

Because of the close result, a full recount was ordered but the loss of those votes meant Justice Kenneth Hayne could not determine who was duly elected.

The ballot bungle, which was investigated by former Australian Federal Police Commissioner Mick Keelty, forced the resignation of the AEC's WA Electoral Commissioner Ed Killesteyn and State Manager Peter Kramer.

The election re-run is expected to cost taxpayers as much as $20 million, nearly double initial estimates of $10-13 million.

Acting electoral commissioner Tom Rogers told Senate estimates earlier this week the lower figures had been an early estimate of the cost.

The key dates in the build up to the poll include the closing of electoral rolls on March 7, and nominations closing on March 13.

Greens senator Scott Ludlam said the poll was a "unique and extraordinary opportunity" for the electorate to a message to Tony Abbott not to take WA for granted.

"It is a chance for West Australians to say they've had enough of the Abbott government and we want our country back," Senator Ludlam said.

"Bring it on."

Senator Ludlam said it was not clear whether the AEC had fully implemented the recommendations of the Keelty report.

"And now with the resignation of two key officials, it's not clear whether those procedures will be in place," Senator Ludlam said.

"You'd have to hope so because people's confidence has been dented."

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PM says no blame on Qantas

PRIME Minister Tony Abbott reckons he is not going to make political capital out of a difficult and anxious day for Qantas workers.

But he says it's not the job of government to save business, it's to ensure the "fundamentals" of the economy are strong.

Mr Abbott was responding to a question from Opposition Leader Bill Shorten about what the government would do to help 5000 Qantas workers who are set to lose their jobs.

"The last thing I'm going to do today is to play politics or to try to make capital out of what is a very difficult day," he told parliament on Thursday.

"The fundamental job of government is to ensure that our economy is as strong as possible and that means getting the fundamentals right."

He said no blame should be laid on Qantas management which was "doing its best" to secure a good future for its workers.

"I am right when I say that there will be better days ahead in a stronger economy, when workers can get the jobs they need."

Mr Abbott said the government has been in regular contact with Qantas.

"There are a number of things that Qantas would like and this government is to do what it can for Qantas, consistent with responsible economic management," he said.

"That essentially means that we should ensure that Qantas can compete on a level playing field, we want to ensure that Qantas is not competing against its rivals with a ball and chain around its leg."

But he said the difficulty is what the government does for one business it has to do for others.

Despite the Mr Abbott's vow against playing politics on Qantas, Deputy Prime Minister Warren Truss blamed the carbon and mining taxes partly for the carrier's woes.

Mr Truss dismissed an accusation by Mr Shorten that the federal government always blamed workers.

He said the carrier had a future but aviation was changing.

Many of the jobs of the past will not be required in the future, Mr Truss said.

"It is simply beyond dispute that Qantas is faced with the difficulty of having to compete with airlines in countries where the wage structure is very different from what it is in Australia," he said.

"That's not the fault of our workers."

Mr Shorten asked Mr Abbott about speculation the government would offer Qantas support for a stand-by facility.

"What will be the implication for Qantas jobs, Qantas share price, Qantas shareholders, if that speculation does not result in action, and when will the government act to support Australia's national airline," he said.

Mr Abbott repeated the need for a "level playing field" for Qantas, a hint at a repeal of the Qantas Sale Act, which imposes foreign ownership restrictions on the carrier.

The government was determined to help Qantas but was wary of "additional assistance" sought by other airlines.

"Why should the government do for one what it's not prepared to do for all, or what is not necessarily available for all," Mr Abbott said.

To help Qantas, the opposition should support the government by agreeing to scrap the carbon tax, he said.

Mr Shorten asked Mr Abbott about ongoing speculation the government would offer Qantas support for a stand-by facility.

"What will be the implication for Qantas jobs, Qantas share price, Qantas shareholders, if that speculation does not result in action? And when will the government act to support Australia's national airline?" he asked.

Mr Abbott repeated the need for a "level playing field" for Qantas, a hint at a repeal of the Qantas Sale Act, which imposes foreign ownership restrictions on the carrier.

The government was determined to help Qantas but was wary of "additional assistance" sought by other airlines.

"Why should the government do for one what it's not prepared to do for all, or what is not necessarily available for all?" Mr Abbott asked.

To help Qantas, the opposition should support the government by agreeing to scrap the carbon tax, he said.

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Ashby wins appeal

PETER Slipper's former staffer James Ashby has won his appeal against a Federal Court decision to throw out his sexual harassment case against the former parliamentary speaker granted.

Federal Court judge, Justice Steven Rares, had dismissed Mr Ashby's case against Mr Slipper as an abuse of process in December 2012.

The full bench of the Federal Court upheld Mr Ashby's appeal on Thursday.

Outside court, Mr Ashby said he had a cry over the decision.

"I'm extremely pleased that the full court has decided to reject and overturn Justice Rares' decision in my case," he said.

"I say this with so much thrill.

"I've always believed the original court decision was wrong. It was unjust and not based on all the facts."

"We will now continue with the legal fight and my chance to obtain justice.

"As you can imagine this has been a long and torturous journey, but I am determined not to give up until my claim has been vindicated."

Asked if his claim was ever politically motivated? Ashby replied: "No, never at all."

"It was about working for the community. That's all I ever wanted to do with that job."

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BC Iron focuses on targets after profit

BC Iron says it's focused on achieving its growth targets after increasing net profit nine fold. Source: AAP

BC Iron says it's focused on achieving its growth targets after increasing net profit nine fold.

The Pilbara iron ore producer has recorded a statutory net profit of $70.3 million for the six months to December 31, up from $7.7 million in the previous corresponding period.

Revenue almost tripled to a record $301 million, from $105 million.

The iron ore pure play, which entered the ASX200 in December last year, said robust prices during the half and the decline in the Australian dollar enabled the company to generate record half-year revenue.

"Continued strength in the iron ore price and an ongoing focus on cost control translated into record revenues, operating cash flow and profits," managing director Morgan Ball said.

While heavy rains interrupted production in January and early February, the company still expects the Nullagine Joint Venture to achieve sales of 5.8 to 6.2 million wet metric tonnes during fiscal 2014.

BC Iron predicts cash operating costs to be in the range of $40-44 per wet metric tonne.

"The key focus for the remainder of the financial year is to achieve our targets through continued strong operational performance," Mr Ball said.

He said the company would continue to look at new business development opportunities.

BC Iron has allocated around $20 million for the company's share of Nullagine joint venture and exploration costs in Brazil.

It has $196.7 million in cash.

The company declared an interim dividend of 17 cents per share, fully franked.

BC Iron shares fell 37 cents, or 7.1 per cent, to $4.87 at 1340 AEDT after the iron ore price fell below $US120 per tonne.

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Ex-RailCorp exec told to burn documents

THE gambling-addict daughter of an ex-RailCorp executive told her father to "burn, burn, burn" documents in her room after a raid by investigators, a corruption inquiry has heard.

In a tapped phone call between Joseph Camilleri and his daughter Jessica Adouni played at an Independent Commission Against Corruption hearing in Sydney, Ms Adouni is heard bullying her father to "do it now".

The call was secretly recorded just after an ICAC raid on Mr Camilleri's home.

That followed his sacking by RailCorp after he had tapped work colleagues for large loans to help his daughter.

ICAC heard on Wednesday that Mr Camilleri paid out more than $4 million over four years to his daughter despite her increasingly questionable claims for money, ostensibly to cover high legal costs for court cases and high bank fees.

He borrowed money from work colleagues and enlisted his sister Carmen Attard to also borrow money to help Ms Adouni.

The ICAC is investigating whether people who contributed to the $1.5 million Mr Camilleri and Ms Attard raised for Ms Adouni received any personal or professional benefit.

Mr Camilleri, who was on a $300,000 a year Railcorp salary, told the ICAC he consistently believed his daughter's reasons for needing money between 2008 and 2013 and only learned later of her gambling problem.

Counsel assisting the commission, Nicholas Polin, played the tapped phone call from August 2013 in which Ms Adouni is heard telling her father after the ICAC raid she wanted to "make sure there's nothing left".

"Dad, they will come back, don't be stupid.

"Any papers, burn, burn, burn, that's all you've got to do ... do it now."

Mr Camilleri denied he destroyed anything and agreed he had "blindly believed" his daughter's claims "all the way".

The ICAC heard her claims included an email to Mr Camilleri from a "Richard Dipshit" purporting to be Ms Adouni's lawyer, and a badly written letter purporting to be from an ASIO security chief about money in a bank account.

A later email from the purported lawyer apologised for the "Dipshit" reference, saying his grandson had been playing on his computer.

The ICAC heard Ms Adouni said that her identity had been stolen and was being used by other people to buy property overseas and that she then became embroiled in court cases over those matters.

Commissioner Megan Latham asked Mr Camilleri if he would have believed his daughter if she told him she was going to the US to marry Tom Cruise.

He said he wouldn't have.

Mr Polin put forward a long series of far-fetched claims by Ms Adouni to her father and asked Mr Camilleri if he was "incredibly stupid" or telling the truth.

Mr Camilleri said he may have been "very naive and had too much trust in my daughter" who was very convincing and "maybe I wanted to accept it".

"I'm very embarrassed, I'm ashamed of myself."

The hearing continues.

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MP says give 'measly' $25m to SPC

Federal cabinet will discuss a proposal to co-invest in SPC Ardmona's fruit processing operations. Source: AAP

PRIME Minister Tony Abbott has used the rejection of taxpayer support for fruit processor SPC Ardmona to set an important "marker" for how his government will deal with requests for industry assistance.

The 93-year-old Victorian company wanted a $25 million federal grant, topped up by $25 million from the Victorian government and its own $150 million investment, for new product development and technology to prop up its operation.

But after three hours of debate in federal cabinet on Thursday, Mr Abbott said the plan was rejected because it was not the government's job to restructure a particular business.

The decision, which workers and growers fear will lead to the operation's closure, comes weeks after Holden's bid for support was rejected and its parent company General Motors announced the end of car production in Australia in 2017.

"The decision that came from the cabinet today does set an important marker," Mr Abbott said.

"This is a government which will make sure that the restructuring that some Australian businesses need, that some Australian sectors need, is led by business, as it should be."

The government's role was to create the right climate for business, he said.

Mr Abbott said SPC Ardmona - owned by food giant Coca-Cola Amatil - was a strong business with the resources to allow it to restructure.

The company advised the government it was prepared to invest an extra $161 million into the business and renegotiate its enterprise bargaining agreement.

Mr Abbott said the company's present EBA had conditions "well in excess of the award", including a wet allowance and generous redundancy provisions.

However SPC Ardmona managing director Peter Kelly said the company would review its business plans.

"This is an unexpected and extremely disappointing decision by the coalition, particularly after the enormous support we have received for our business plans from the local community and beyond," Mr Kelly said.

Acting Opposition Leader Tanya Plibersek said the government had failed in its fundamental role - to protect jobs and bring on new investment.

"First they forced General Motors Holden out - now they are sending SPC Ardmona to the wall," Ms Plibersek said.

Labor pledged at the 2013 federal election to provide the $25 million grant.

If the plant closes, it is estimated 1500 direct and 2700 indirect jobs could be lost in the Shepparton region.

Shepparton mayor Jenny Houlihan said workers faced an unknown future.

"The $25 million that the government refused to let go today will be eaten up in unemployment benefits," she said.

Australian Manufacturing Workers' Union national secretary Paul Bastian said workers had been improving productivity, but other factors were affecting the business, such as the dumping of cheap imports and the high dollar.

"The government directly and indirectly subsidises mining, agriculture, finance, fisheries and other important Australian industries and yet it is continually cutting investment in manufacturing," Mr Bastian said.

"Soon, when we go to the supermarket ... there will be nothing left made in Australia."

Victorian Opposition Leader Daniel Andrews said if state premier Denis Napthine could not convince Mr Abbott to stump up $25 million for SPC Ardmona, he struggled to see how Dr Napthine could secure $300 million for Toyota as it considers its future.

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