Tag Archives: oceania

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Australians aren’t eating enough burritos. It just cost one company $200 million

Popular burrito chain Guzman y Gomez has suffered a multimillion-dollar hit after its half-yearly earnings were not as strong as expected.

The Australian company released its half-yearly results today, reporting $682 million in sales and earnings before interest, taxes, depreciation and amortisation (EBITDA) of $33 million – both significant increases from the same time last year.

However, following the results, its share price on the ASX dropped about 10 per cent. With a market capitalisation of around $2.1 billion, that represents a hit of more than $200 million.

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Guzman y Gomez hidden logo detail

GYG's sales grew 18 per cent compared to the first half of the last financial year, however analysts had expected that figure to come in at 19 per cent.

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The company's share price has plummeted from around $38 a year ago to about $18 today – far lower than the $22 offered when it was first listed on the ASX in 2024.

However, Guzman y Gomez said the results were positive, pointing to growing sales and 17 new restaurants opened around the world, keeping its expansion plans on track.

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Customers in a Guzman y Gomez store.

"We continue to have extremely healthy restaurant economics and share our success with our franchisees," CEO Steve Marks said.

"GYG achieved solid sales momentum and earnings growth during the half, driven by… our team's consistent execution on core strategic and operational initiatives."

The company expects to open 32 more restaurants in Australia in the current financial year.

The company has also expanded into Asia with stores in Japan and Singapore, as well as the United States, where it currently has two locations.

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Posties told to stop wearing uniforms amid reports they’re getting sunburnt

Australia Post has told its posties not to wear their brand new uniform after reports workers are getting sunburnt through the polo shirts.

The Communication Workers Union reports members have questioned the SPF rating of the hi-vis polo shirts, reporting getting sunburnt while wearing the shirts, as well as tattoos and underwear being visible through the fabric.

The roll-out of the new Australia Post uniform, which includes around 80 items of clothing in total, began early this year after a trial last year.

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After discussions with the union, Australia Post has directed employees to wear "alternative options" to the shirts, including their old uniform while it ensures the new uniforms are safe.

A spokesperson for Australia Post said the fabric will now be tested for its SPF50 rating and has contacted the manufacturer for details.

"Australia Post regards the safety of our team members as our number one priority and we worked quickly to investigate concerns that have been raised regarding the new SPF50 graded polo shirts," the company said in a statement.

"Australia Post has engaged an official Australia Federal Government agency, ARPANSA (Australian Radiation Protection & Nuclear Safety Agency), to test the fabric to ensure it meets the SPF50 rating, which was part of our approved uniform design.

"Team members have been directed not to wear the shirt and Australia Post has provided a number of alternative options until the new polo shirt is deemed safe, suitable and meets our quality expectations.

"Australia Post does not expect team members to wear anything that is unsafe.

"Safety will remain our top priority as we work through this issue."

The union has encouraged employees working outdoors to wear any suitable sun-safe clothing if they no longer have their old uniforms.

"Given the seriousness of the concerns raised, we strongly recommend that members revert to wearing the old uniform wherever possible," the union said in a statement.

"If you work in an outdoor role and no longer have your old garments, we advise wearing alternative suitable sun‑safe clothing until the review is complete.

"These arrangements have been agreed to at the highest national level and a commitment has been made to ensure this outcome is also communicated across the network internally by Australia Post, as soon as possible.

"We will continue to work with Australia Post throughout both the polo‑shirt review and the broader uniform review now under way.

"Members will be updated on this matter, and our efforts regarding holding Australia Post to account for the safety of our members working in the heat, generally, as these matters progress."

Australia Post employees around 60,000 people, including approximately 10,000 posties.

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How a blood test could predict if and when you could get Alzheimer’s

A new blood test could be able to clock when someone may begin to have symptoms of Alzheimer's disease, an American study claims.

Alzheimer's is the cause of up to 75 per cent of dementia diagnoses in Australia, with 425,000 people living with dementia in 2024. That number is expected to rise to 1 million by 2065.

Alzheimer's Research Australia says around 250 people are diagnosed with dementia everyday, and it is the second leading cause of death in the country.

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Blood test pathologist blood sample

Dementia, which is incurable, costs the Australian government around $4.7 billion a year, but researchers from Washington University claim they can accurately identify when someone will begin to show symptoms of Alzheimer's, accurate to around four years.

The blood test measures the levels of a protein called p-tau217; stronger levels of this protein in someone's blood can indicate that someone has a higher chance of suffering from Alzheimer's.

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This is especially true in patients who are already suffering from some form of cognitive impairment.

Previously, brain scans or spinal fluid tests were used to measure the level of p-tau within a person, and to ultimately test for risk factors of developing Alzheimer's, but researchers believe being able to do the same thing with a blood test can help catch symptoms quicker, while being significantly cheaper.

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"In the near-term, these models will accelerate our research and clinical trials," Suzanne Schindler from Washington University said.

The study's authors shared their findings publicly in the hope it would aid other research on the disease.

"Eventually, the goal is to be able to tell individual patients when they are likely to develop symptoms, which will help them and their doctors to develop a plan to prevent or slow symptoms."

Early symptoms of Alzheimer's can include memory loss, confusion, and repetitive or vague speech

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More than five million Aussies to receive cash boost in just weeks

More than five million Australians receiving social security payments, half of whom are pensioners, will receive a cash boost in a matter of weeks.

Pension, rent assistance, JobSeeker, ABSTUDY and parenting payments will increase when they are indexed to inflation on March 20.

More than 2.5 million people are set to benefit from the pension increase alone, with the government estimating those on a full single rate will see a $22.20 increase to their fortnightly payments.

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Someone holding a handful of Australian cash.

The government said those are rough figures based on available data and the exact numbers will be officially confirmed in the coming weeks. 

A recent report by COTA, a charity representing people aged over 50, found one in four older people are living in poverty.

"Many older Australians are carefully managing every dollar, and additional income will help ease pressure on household budgets," COTA chief executive Patricia Sparrow said.

"While it won't solve the cost-of-living pressures many people face, an increase in the pension will make a small difference when it comes to managing rising costs for essentials like food, energy, insurance and healthcare."

Changes to deeming rates, which are a way to assess social security payments based on the income people earn from their financial assets, will also come into effect from March 20.

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Two old people walk down the street in Brisbane

The Australian Government Actuary recommended the government lift deeming rates, which it has accepted.

The lower deeming rate will be increased by 0.5 per cent to 1.25 per cent for financial assets under $64,200 for singles and $106,200 for couples, and the upper rate will be 3.25 per cent for financial assets over these amounts.

Social Services Minister Tanya Plibersek said this was to ensure the social security system delivers value for taxpayers and is grounded in fairness.

"We'll continue to make sure the system is there to support those who need it most, ensuring that everyone can make ends meet and no one gets left behind," she said.

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