Tuesday, 18 December 2007

BizBriefs. Parramatta and Western Sydney

API sales up 16 per cent
Australian Pharmaceutical Industries, based at Camellia, has reported sales were up 16 per cent in the quarter to November compared with a year earlier, totalling $770 million. At the API annual general meeting today (December 18) shareholders will be told that after spending $4 million on a forensic accounting investigation, the company has been unable to find how $17 million of shareholders' funds disappeared.
Transitway passengers
Some 50,000 passengers a week are now using the Parramatta-Liverpool transitway, while passenger numbers on the recently opened north-west transitway from Parramatta to Rouse rose by 89 per cent in the three months to September.
Centro's properties in the region
Centro, the second-largest owner and manager of shopping centres in Australia after Westfield and which has until February to refinance $3.9 billion in short-term debt after becoming a victim of the global credit crunch, may be forced to sell off properties to remain solvent. Centro properties in the region include Roselands, Bankstown, Seven Hills and Penrith.