Companies count the cost

IF Corporate Australia had a community noticeboard, the company announcements section of the Australian Stock Exchange website would be it. Under ASX rules, companies must notify the market of events which could have a material impact on their profits. More than 100 listed companies have released updates about the floods so far.

Coca-Cola Amatil

The soft drinks manufacturer warned unseasonable weather and flooding would reduce earnings growth to about 5 per cent for the second half of the year, below its previous target of 7 to 8 per cent.

Australian Agricultural Company

Australia’s largest cattle producer reported infrastructure damage of about $4 million, including 100 cattle lost. It also downgraded revenue forecasts by at least $3 million due to the loss of 1560 hectares of cotton.

Amalgamated Holdings

The owner of Greater Union cinemas and Rydges Hotels warned the flood crisis had led to fewer cinema outings and hotel stays in Queensland and northern NSW.

Asciano

The port and rail owner warned that revenues for its Pacific National coal haulage division would be affected.

BHP Billiton

The mining behemoth declared ”force majeure” on six coalmines in the Bowen Basin, and reported a 30 per cent slump in Queensland coal production in the December quarter.

DuluxGroup

The paint manufacturer’s main facility at Rocklea has been severely flooded and will remain closed until early next month.

Leighton Holdings

The project developer and contract miner advised work had ceased on its largest project, the $4.1 billion Brisbane Airport Link.

The Reject Shop

The discount retailer was forced to close half of its 27 retail stores in Queensland and flooding at its Ipswich distribution centre has resulted in significant loss of inventory.

Australian Pharmaceuticals IndustriesThe operator of Priceline stores announced its Ipswich distribution centre was flooded and is likely to remain shut for up to six months.

Caltex

The oil refiner suffered revenue loss of between $5 million and $10 million when heavy rain stopped production at its Lytton refinery near Brisbane.

Devine

The home builder warned lower consumer confidence could depress new home sales.

Flight Centre

The travel company predicted tourism in Queensland would suffer as people cancelled holidays but expects it to rebound quickly as attractions such as the Great Barrier Reef remain available.

Goodman Fielder

The manufacturer of iconic food brands such as Paul Newman’s Own, Wonder White and Meadow Lea was forced to shut several facilities for 48 hours.

Incitec Pivot

The explosives and fertiliser manufacturer warned shareholders of reduced sales due to mine closures and lost crops.

Jessica Irvine is the Herald’s economics writer.