MissChu calls in sporting ambassadors; CBA posts record $9 billion profit: Midday Roundup

MissChu calls in sporting ambassadors; CBA posts record $9 billion profit: Midday Roundup

The founder of Vietnamese restaurant chain MissChu has called in the big guns, using popular sports stars to help promote the fact that her business is still trading.

The company entered voluntary administration late last year with administrators appointed on December 23, 2014.

Founder Nahji Chu bought the business back from creditors for an undisclosed amount in April, and is now enlisting football players to help promote the company’s return.

The ambassadors include Sydney Swans players Dan Hannebery, Josh Kennedy and Ted Richards along with Sydney Roosters players Mitchell Pearce and Boyd Cordner, according to The Daily Telegraph.

 

CBA posts record $9 billion profit

 

The Commonwealth Bank of Australia has posted a record profit of $9 billion after tax, up 5% from the previous year.

The bank has also unveiled a $5 billion capital raising in the wake of similar announcements from competitors ANZ and NAB.

Chief executive officer Ian Narev said in a statement the jump in revenue is due to a boost in customer satisfaction as well as streamlined compliance costs.

“Over many years now we have pursued a simple, consistent strategy,” Narev said.

“This result shows that execution of that strategy continues to deliver well for our customers and our shareholders. This financial year saw all-time highs in retail customer satisfaction, with the group returning to the number one position at a year-end, and ongoing high levels of customer satisfaction in our other businesses.”

 

Shares down on open

 

Aussie shares are trading lower this morning off the back of a shock devaluation of China’s currency and a poor showing from Wall Street.

The S&P/ASX200 benchmark was down 0.81%, falling 44 points to 5429.2 points at 11.36am AEST. On Tuesday, the Dow Jones closed down 1.21%, falling 212.33 points to 17,402.84 points.

 

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