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References and extracts
Mayne Nickless 1886 to 1995
The birth of a transport giant
Australian Transport, (v.21), Oct 1979: supp.7
MAYNE Nickless launches electronic legal
information service.
LAW SOCIETY JOURNAL 24 (10) November 1986 : 50-51
MAYNE NICKLESS JUMPS 38PC ON OVERSEAS
PUSH
Sydney Morning Herald 26 Aug 1987
MAYNE NICKLESS CHALLENGES TELECOM'S
MONOPOLY ROLE
Australian Financial Review 15 Mar 1988
MAYNE NICKLESS BUYS CANADIAN
GROUP
Australian Financial Review 11 May 1988
MAYNE NICKLESS TOASTS A 45PC LIFT WITH
BONUS ISSUE
Sydney Morning Herald 23 Aug 1988
TNT, MAYNE NICKLESS THE ONES TO
BUY
Sun Herald 27 Aug 1988
MAYNE NICKLESS STILL
CASHED-UP
Australian Financial Review 06 Oct 1988
MAYNE NICKLESS FIND ITS GROOVE
Australian Financial Review 11 Oct 1988
NO industry based in Australia has performed better than transport over the past three years - and notably the big three in the sector have been Brambles, TNT and Mayne Nickless.
MAYNE NICKLESS BUYS BRITISH GUARD GROUP
Australian Financial Review 10 Nov 1988
MAYNE NICKLESS BOOSTS EARNINGS
42PC
Sydney Morning Herald 23 Feb 1989
Transport and security house Mayne Nickless has shrugged off the effects of a higher Australian dollar to post yet another sterling profit performance in the period to December 31.
MAYNE NICKLESS LEARNS THE CHINESE WAY
Business Review Weekly 25 May 1989
MAYNE NICKLESS ADDS TO WASTE DISPOSAL
ARM
Australian Financial Review 02 Aug 1989
MAYNE NICKLESS BUYS SECUREFORCE IN UK
Australian Financial Review 31 Aug 1989
MAYNE NICKLESS SELLS LOOMIS ARMOURED
Australian Financial Review 11 Sep 1989
PLENTY OF SCOPE FOR EXPANSION BY MAYNE
NICKLESS
Australian Financial Review 09 Oct 1989
MAYNE NICKLESS READY FOR EUROPE
Australian Financial Review 11 Jan 1990
EC NEXT FOR MAYNE NICKLESS
Australian Financial Review 23 Jan 1990
Mayne buys Dutch hauler
SMH - 03 May 1990 p.31
Mayne to reign in Spain
SMH - 10 May 1990 p.31
MAYNE NICKLESS FINDS KEYS TO SUCCESS IN
US
Australian Financial Review 20 Jun 1990
MAYNE NICKLESS PREPARES FOR
1992
Business Review Weekly 02 Aug 1990
An air of excitement swept through Mayne Nickless offices recently following the announcement that Lindsay Bytheway, the transport group's highly regarded finance director, was being posted to Europe. When senior people like Bytheway go overseas it is often a sign
MAYNE NICKLESS DEAL
Australian Financial Review 11 Sep 1990
MAYNE NICKLESS BUYS BRITISH FREIGHT
GROUPS
Australian Financial Review 25 Oct 1990
Mayne Nickless sells US armored-car
group
The Age 05 Feb 1991
MAYNE NICKLESS SELLS LOOMIS
Sydney Morning Herald 02/05/1991
Mayne Nickless has finally clinched a sale of Loomis Armored, ending an unsuccessful 11 years in the US armoured car market.
Mayne Nickless anoints next chief
The Age 11 Apr 1991
The transport group Mayne Nickless has designated Mr Bill Bytheway, the group operations director, as its likely next managing director - - -
MAYNE TO GET A NEW CHIEF
Sydney Morning Herald 04/12/1991
Mayne Nickless will have a new chief executive to steer its 1990s expansion plan, following the surprise announcement yesterday that Mr Ian Webber will move to a non-executive role in October.The 56-year-old Mr Webber is likely to be replaced by group operations director Mr Bill Bytheway, who was appointed yesterday as deputy managing director in the interim.
Mayne Nickless plan European growth
The Age 17 Apr 1991
MAYNE'S CHIEF LOOKS ABROAD FOR
EXPANSION
Sydney Morning Herald 04/24/1991
MAYNE BUYS CANADIAN GROUP
Sydney Morning Herald 06/04/1991
TRANSPORT OPERATIONS PUT MAYNE ON THE
SKIDS
Sydney Morning Herald 08/29/1991
Mayne Nickless has warned shareholders the recession is continuing to savage Australian transport operations after a weak second half forced annual net earnings down 6.5 per cent to $105.5 million.
---------------------
Profits were particularly hard hit in road express but freight forwarding was not as badly affected. Air express and messenger services were hurt by lower consignments and tonnages.
---------------------
Overall, the results reflected the widespread change in Mayne's mix of operations due to the diversification into the private hospital and health care sector, in which it now holds about 20 per cent of the market.
------------------------
The expansion into the growth area of health, combined with the steady European expansion, means the company is set for another good year.
MAYNE CASHED UP AND READY FOR OPTUS
Sydney Morning Herald 09/07/1991
Mayne Nickless has its eye on "emerging opportunities" both in Australia and overseas after the $304 million sale of its Amcor shareholding.Managing director Mr Ian Webber said yesterday the sale reflected the redirection of Mayne Nickless' investment strategies.
MAYNE BUYS UK GROUP FOR $110M
Sydney Morning Herald 09/21/1991
WEBBER RETIRES AS MAYNE NICKLESS MD
The Australian Financial Review 08 Oct 1991
- - - - as expected, Mr Bill Bytheway, - - - - was appointed in his place.
Mayne Nickless gets 98pc of Interlink
(UK)
The Age 21 Oct 1991
STRONG OVERSEAS PERFORMANCE SHORES UP
MAYNE NICKLESS
The Australian Financial Review 13 Nov 1991
- - - - but an essentially flat result in Australia.
MAYNE IN PLEA TO MOODY'S
Sydney Morning Herald 01/11/1992
Mayne Nickless will have a 20 per cent stake in Optus and will spend $300 million funding its share of the new telecommunications carrier.Optus is expected to be in operation by the end of the year but will not show profits for at least three years.
MAYNE NICKLESS TO LIMIT OPTUS FUNDING
TO $375M
The Australian Financial Review 04 Dec 1991
MAYNE NICKLESS NOW CONTEMPLATES ITS
NEXT MOVE
The Australian Financial Review 09 Dec 1991
Flushed with the success of the group's $800 million joint-bid for the second telecommunications carrier, the strategic minds at Mayne Nickless Ltd are already on the prowl for more opportunities to diversify.
Mayne takes stock after buying spree in
Europe
The Age 24 Jan 1992
ERIC ELLIS looks in on Mayne Nickless in London _ spartan but efficient as it goes about its acquisition binge. FOREIGN visitors to Mayne Nickless's European headquarters unfamiliar with the Mayne Nickless ``culture" are surprised by the lack of glitz at the company's unfashionable address
MAYNE NICKLESS SHARES SKID 15C TO $8
The Australian Financial Review 14 Feb 1992
Shares in the transport and security group Mayne Nickless Ltd have slipped to their lowest level since early December,- - -
MAYNE NICKLESS CONTINUES PRICE SLIDE
The Australian Financial Review 17 Feb 1992
Shares in the transport, security and health care group Mayne Nickless Ltd shed a further 26c to $7.74 on Friday - - - -
MAYNE NICKLESS HIT BY PRICE COMPETITION
The Australian Financial Review 21 Feb 1992
Heavy competition and deep price discounting by local transport operators has sliced Mayne Nickless Ltd's Australian earnings by 22 per cent for the half year to December and cut group transport earnings 35 per cent to $23.89 million.
OPTUS FLOAT DATE A QUESTION OF
TIMING
Sydney Morning Herald 06/26/1992
MAYNE NICKLESS EXPANDS IN BENELUX
REGION
Sydney Morning Herald 04 Aug 1992
Transport giant Mayne Nickless Ltd has bought several distribution businesses in the Netherlands and Belgium. The purchases are keeping the company on track with its program of European expansion.
MAYNE NICKLESS DISAPPOINTS 'OVERLY
OPTIMISTIC' ANALYSTS
The Australian Financial Review 26 Aug 1992
CONTINUING depressed trading conditions for Mayne Nickless Ltd's transport, courier and security operations have limited the group's pre-tax profit growth to just 2.7 per cent - - - - -
MAYNE NICKLESS STILL CAUTIOUS ABOUT
FUTURE
The Australian Financial Review 15 Oct 1992
MAYNE NICKLESS SLIPS AS SELLING
CONTINUES
The Australian Financial Review 02 Dec 1992
A FURTHER 20c fall in Mayne Nickless Ltd's share price - - - - -
MAYNE NICKLESS IN BOLD FRENCH FREIGHT
VENTURE
The Australian Financial Review 07 Dec 1992
MAYNE Nickless Ltd is set for a significant expansion of its contract warehousing and distribution operations in Europe after agreeing to buy one of France's largest contract warehousing companies, France Distribution Systems. The purchase represents Mayne Nickless' first foray into France.
HARD TIMES AHEAD FOR MAYNE
Sydney Morning Herald 11/12/1992
Mayne Nickless has continued to face hard times in most of its markets in the first quarter and the managing director, Mr Bill Bytheway, says he cannot rule out a lower profit for the company this year.
MAYNE NICKLESS ON A FIRM BASE
The Australian Financial Review 25 Feb 1993
STRONGER profits from Australian transport, security and health care operations have underpinned a marginally lower first-half result for Mayne Nickless Ltd,- - - -
MAYNE NICKLESS CUTS PAYOUT AS COSTS
RISE
Sydney Morning Herald 25 Feb 1993
MELBOURNE: Flat earnings and the pressure of servicing an expanded capital base have forced Mayne Nickless to cut its interim dividend. - - - - reported a 2.2 per cent fall in net profit
Mayne shares take beating as forecasts
revised.
SMH - 31 May 1993 p.25
MAYNE NICKLESS TO SWAP $60M UK BUSINESS
Sydney Morning Herald 03 Aug 1993
Mayne Nickless announced yesterday it would swap its UK security guard business for a "strategically significant" armoured car company in the UK.
Sell Mayne Nickless stock - broker
The Age 09 Aug 1993
The stockbroker ANZ McCaughan has released a research report recommending that clients sell Mayne Nickless shares because of the transport group's exposure to Optus.
Confusing signal from Optus for Mayne
Nickless
The Age 23 Aug 1993
Mixed bag for Mayne Nickless
The Age 01 Sep 1993
Mayne Nickless's profit announcement yesterday was a mixed bag, with a better than expected result from the telecommunications group Optus and steep write-downs in its Spanish and Italian trucking operations
ITALY, SPAIN BIG DRAIN ON MAYNE NICKLESS
RESULT
The Australian Financial Review 01 Sep 1993
MAYNE Nickless Ltd has demonstrated strong underlying earnings potential in its major European operations, despite its Spanish and Italian units carving about $60 million from the group's bottom line in the latest financial year.
MAYNE NICKLESS FIRST QUARTER BEATS
FORECAST
Sydney Morning Herald 10 Nov 1993
Mayne Nickless had traded ahead of budget for the first quarter of the financial year and was on track to produce a higher profit than last year, the group's managing director, Mr Bill Bytheway, told shareholders yesterday.
MAYNE NICKLESS IN $40M NZ SALE
Sydney Morning Herald 24 Mar 1994
Mayne Nickless Ltd will sell its 50 per cent stake in its New Zealand transport venture Freightways Group Ltd
Mayne tipped to sell down Optus holding.
Business.
SMH - 06 Jul 1994 p.39
MAYNE NICKLESS CASHES UP FOR EUROPE
The Australian Financial Review 11 Jul 1994
Mayne Nickless Ltd has amassed $500 million to $600 million for acquisitions and expansions and has targeted its European division - - -
Mayne Nickless Sell-off
The Age 08/10/1994
A United States subsidiary of the transport giant Mayne Nickless has sold out of its operations in eight US states to a division of the diversified industrial group Pinkerton's Inc.
MAYNE NICKLESS BUYS VIC'S STATE SUPPLY
Sydney Morning Herald 10 Aug 1994
The State Government has furthered its privatisation program by selling its bulk stationery and office supplies unit, State Supply, to a division of Mayne Nickless.
MAYNE NICKLESS UPBEAT ON FUTURE
Sydney Morning Herald 05 Sep 1994
Mayne opts out of power (electricity
companies in Victoria). Business.
SMH - 08 Nov 1994 p.53
MAYNE NICKLESS ON TRACK, EYES ASIA
Sydney Morning Herald 09 Nov 1994
Mayne Nickless's first-quarter performance was ahead of the same period a year ago and in line with or slightly ahead of plans, the company's shareholders were told yesterday.
Optus float still on cards for
mid-year.
SMH - 12 Jan 1995 p.45
Mayne Nickless profit up 19% to $73.2m
Australian Financial Review 24 Feb 1995
MAYNE Nickless was firing on all cylinders in the December half, with all divisions and Optus reporting improved performances, driving the group profit up 19 per cent to $73.2 million before abnormals.
Mayne Nickless tightens its focus
Business Review Weekly 26 Mar 1995
Mayne Nickless managing director Bill Bytheway is under intense pressure. In mid-March the company's share price dipped to a four-year low of $5.94 as the investment community criticised its strategic direction and its exposure to Optus.
Mayne Nickless on way to European
prominence
Sydney Morning Herald 16 Apr 1995
IT IS easy to understand why the transport, security, health care and communications group Mayne Nickless is willing to spend big money to expand its logistics presence in Europe. Mayne Nickless has a clearly defined strategy to be among the top five logistics groups across Europe - - -
Mayne blames UK, europe for downturn.
Business.
SMH - 14 Jun 1995 p.47
Mayne drags down sector
SMH - 16 Jun 1995 p.31
Mayne Nickless chief quits
The Age 16 Jun 1995
Bill Bytheway has quit as managing director of Mayne Nickless only three days after the company signalled a profit downturn for the year.
Mayne Nickless in turmoil as Bill Bytheway
resigns`
Courier Mail June 1995
However the downward path of Mayne Nickless share price began almost 12 months ago with the TPC investigation into allegations of price rigging - - -
Mayne chief out as profit declines
SMH - 17 Jun 1995
Mayne Stock Up 12c As MD Resigns
Australian Financial Review 06/19/1995
INVESTORS have approved of the news that Mayne Nickless managing director Mr Bill Bytheway has resigned.They initially marked the shares up 12c on news of the resignation before profit takers reduced the rise to 4c on the day, the shares closing at $5.67.
-----------------------
However, some analysts believe there has been pressure on Mr Bytheway to quit ever since he was identified last December as a principal player in Mayne's contraventions of the Trade Practices Act some years ago.
--------------------------
This left only the Australian health care, North American and Australian security businesses on target to achieve their planned results.
The MD's Not The Mayne Issue
Australian Financial Review 06/19/1995
THE different reactions prompted by the quinella of bad news from Mayne Nickless last week should start the more curious shareholders thinking.First, the group said its full-year profit will not reach the heights expected as recently as February because of problems in Australian transport and in European armoured cars logistics.
---------------------------
There is persistent disquiet about Mayne's exposure to telecommunications through Optus - a commitment now worth well over $400 million - and new fears about things going wrong in the European adventure, which has consumed even more capital than Optus.And there is the more recent disclosure that returns from traditional Australian transport operations may not be all that was hoped for.
--------------------
The board is believed to have been split about whether Mayne could afford to keep Mr Bytheway in the top seat in the wake of the TPC settlement. Some big shareholders were not enthralled by the prospect.But with another TPC case pending, perhaps there were some on the board who wanted to see how the next case turns out before deciding on the managing director's future.
The next question to be answered concerns Mayne's commitment to Optus, and there are some suggestions that this may be weakening. There are reports that Mayne is already seeking a buyer for its stake.
-----------------------------
Announcing the reduced profit forecast, chairman Ian Webber said Mayne's Australian transport operations and its UK armoured car business would not achieve the returns expected. In addition, he said the group's fast-expanding European logistics businesses have also run into trouble.This last item is a heavy blow because logistics in Europe and hospitals in Australia have been named by directors as the two main opportunities for significant investment and profit growth in the immediate future.
Market frowns on Mayne. Business.
SMH - 20 Jun 1995 p.40
A Strong Warning For Top Executives
Sydney Morning Herald 06/22/1995
LESS THAN four months ago, a beaming Bill Bytheway announced that Mayne Nickless had increased profit by 19 per cent in the December half and confidently predicted it was full steam ahead for the year."Directors anticipate a continued strong performance from the company with benefits emerging from its sharper organisation focus and targeted growth strategy within group activities," were the precise words he used.
----------------------
The problem was that things started to go wrong for Mayne Nickless very soon after he made these remarks. And the change was not clearly communicated to anyone.
----------------------------
The same day the directors met to discuss Bytheway, they also informed the sharemarket that instead of the strong profit performance predicted, the full year was now to be, at best, only in line with the previous year.And this announcement was made by chairman Ian Webber - not Bytheway.
------------------------------------------
Mayne Nickless is far from being a basket case. But the new chief executive will have to make some big decisions, including what to do about its telecommunications investment in Optus Communications.
-----------------------------
Already Mayne Nickless is said to have taken the decision to sell its UK and North American security businesses, which it said in last week's statement had been underperforming.
-------------------------------
The other area blamed for the underperformance in the first half of the calendar year is Australian transport together with some problems in the volumes and commissioning of warehouses in the European Benelux operations.
The Mayne Nickless strategy - get one
Australian Financial Review 25 Jun 1995
Mayne Nickless looks at quitting Europe
security
Sydney Morning Herald 06 Jul 1995
Mayne Nickless yesterday confirmed it was reviewing its European security operations for sale after its Belgian security affiliate, GMIC Security, announced Mayne was planning to sell its 50 per cent stake.
Australian company to sell U.S., Canadian
businesses.
Wall Street Journal - Eastern Edition, 8/17/95
Abstract Business Source Premier:
Reports the decision of Mayne Nickless Ltd. to sell its Stanley Smith Security business in the U.S. and Barnes Security Services in Canada to Rentokil Group PLC of Britain.
Mayne sells North American divs for
$70m
SMH - 17 Aug 1995 p.35
Mayne (Nickless) surges to $79m profit
SMH - 25 Aug 1995
Mayne Nickless posts profit increase of
14% for latest fiscal year.
Wall Street Journal - Eastern Edition, 8/25/95
Abstract (Business Source Premier)
Reports the modest rise in income of Australian transportation and health-services company, Mayne Nickless Limited, for the period ending July 2, 1995.
Mayne Nickless sell-off continues
Australian Financial Review 28 Sep 1995
TRANSPORT and security group Mayne Nickless Ltd continued its divestment of European assets with the sale yesterday for $10 million of its UK-based Security Express Alarms business to Chubb Security.
Mayne Nickless offloads security business
The Age 28 Sep 1995
Mayne sells out of Spain. Mayne's
worldwide selloff
SMH - 13 Oct 1995
Mayne's minor selloff
SMH - 21 Oct 1995
Mayne's down-side to leave investors
frustrated
SMH - 13 Nov 1995
Mayne Nickless Sees Lower Profits
Ahead
The Age 11/15/1995
Mayne Nickless yesterday flagged that its first-half net profit result would be down on last year due to losses by its logistics operations in Benelux and by its British armored car business, Security ExpressArmaguard.
---------------------------------
Mr Webber told shareholders at Mayne's annual meeting that following a strategic divestment program, the company now had only two businesses making losses - its Benelux logistics operations and Security ExpressArmaguard.He said Mayne expected to unveil further details of its restructuring program in the coming weeks, adding that its divestment program was nearly complete.
``In the last few months we have sold a number of businesses which did not fit our strategic direction or performance criteria.
' The divestment program has resulted in gross sale proceeds of $120 million, a reduction of $450 million in revenues and a cut of nearly 10,000 staff.
Mayne warns of profit slide
Australian Financial Review 15 Nov 1995
THE executive chairman of listed transport and medical group Mayne Nickless Ltd, Mr Ian Webber, yesterday warned of lower first half profits after unveiling a $US300 million ($400 million) 10-year bond issue to spread debt repayments from recent acquisitions in Optus , logistics and health care.
Dalziel Is New MD Of Mayne
Australian Financial Review 11/23/1995
THE chairman and acting managing director of Mayne Nickless , Mr Ian Webber, sprang a surprise last night when he announced the appointment of top retailing executive Mr Bob Dalziel as managing director of the transport and health group.
Companies That Teach
You To Be A Star
Business Review Weekly 09/29/1997
More than 30 of Australia's most senior executives have been 'schooled' at just five organisations. These corporate finishing schools provide opportunities that money can't buy.What they don't teach you at Harvard Business School is that working for the right company may be more important than anything else in your career. Inside the oak-panelled walls of Australia's executive recruitment agencies, dozens of companies are regularly trawled for talent, but only a handful are regarded as "finishing schools", the places to work on the way to the top.
Australia's finishing-school Ivy League comprises five industry leaders: Citibank, Rio Tinto, Coles Myer, McKinsey & Co and Shell. Graduates from these companies have this in common: they went to school together and were paid well while they were there.
--------------------------
Scott and Bob Dalziel, chief executive of Mayne Nickless, graduates from the Myer wing of the battle-scarred retailer, have ranged across other industries, but it is inside the retailing industry that Coles Myer alumni rule.
----------------------------------
The prospect of uprooting a growing family to take an unwanted overseas promotion was a hurdle former Shell executive Peter Smedley would not jump. His decision to leave Shell led to one of the best crossovers seen in local industry. This Western Australian's leadership at Colonial has turned the sleepy Colonial Mutual Life Assurance Society into a strong bancassurance group with more than half a million shareholders.Shell, one of the nation's most fertile finishing schools, is a serious rival to CRA. It has produced Don Mercer of ANZ, Kevin Gosper, Australia's International Olympic Committee representative, and John Akehurst, Woodside's managing director. Smedley, who spent 29 years with Shell, says it built its reputation as a finishing school on the twin principles of encouraging functional and geographical mobility. In other words, it allows executives to work in a wide variety of jobs in a wide variety of places. Smedley says: "Shell always moved people across functions. In my case, I got to work in mining, oil, chemicals and retailing. People with potential in the group were given every opportunity to advance."
Smedley says Shell will be joined by companies that offer newer sets of skills: " I think some of the best people will come from service and technology industries that are undergoing major change. To them I would say, work for big companies, do not specialise early on in your career and take every opportunity to network inside the company."
Smedley To The Rescue
The Age 06/27/2000
Parcels to Pacman
- 1886: John Mayne and Enoch Nickless start Melbourne parcel delivery service.
- 1926: Charles Davis buys and floats company.
- 1938: Diversifies into armoured car deliveries of cash.
- 1958: Expands overseas with armoured cars in New Zealand.
- 1991: Forms Health Care of Australia after buying into private health care in late 1980s.
- Nov 1995: Trade Practices Commission fines Mayne $7.7m for transport price fixing. Bob Dalziel new MD after Bill Bytheway resigns.
- July 1998: Shares peak at $8.65 ahead of sale of 25pc stake in Optus
- Nov 1998: Optus holding sells for $680m
- Feb 2000: Top health care executive Barry Catchlove retires as shares plumb three-year lows
- June 2000: Dalziel resigns, making way for Peter ``Pacman'' Smedley
Web Page
History
This page created November 2001 by
Michael
Wynne
Format changed Nov 2005
