VILLA WORLD POSTS FOURTH CONSECUTIVE PROFIT GROWTH AS IT EXPANDS INTERSTATE OFFERING

VILLA WORLD POSTS FOURTH CONSECUTIVE PROFIT GROWTH AS IT EXPANDS INTERSTATE OFFERING

RESIDENTIAL property developer Villa World (ASX: VLW) has posted its fourth consecutive full-year profit growth, announcing a $37.8 million net profit after tax, up 12 per cent on the previous financial year. The Gold Coast-based company generated a revenue of $386.8 million off the back of continued sales momentum as well as delivery of ...

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UNDER-FIRE AVEO DOUBLES FY PROFIT, SHARES SURGE NEARLY 10 PER CENT

UNDER-FIRE AVEO DOUBLES FY PROFIT, SHARES SURGE NEARLY 10 PER CENT

SHARES in retirement village operator Aveo Group (ASX: AOG) have surged 10 per cent after announcing its profit after tax had more than doubled in the 2017 financial year.

Aveo Group was at the centre of a Four Corners/Fairfax investigation in June which alleged the company engaged in poor practices including the charging of excessive fees thr...

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SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by $450,000 as the company reported nearly $1 billion in writedowns and one-off costs.

Worner's bonuses have been cut to zero with his 2016 salary dropping from $3.19 million to $2.74 million with other Seven West Media execut...

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NEXTDC BUILDS UP ITS WAR CHEST AS TAKEOVER BATTLE FOR DATA CENTRES INTENSIFIES

NEXTDC BUILDS UP ITS WAR CHEST AS TAKEOVER BATTLE FOR DATA CENTRES INTENSIFIES

NEXTDC (ASX: NXT) has agreed to $300 million three year syndicated senior secured debt facilities with National Australia Bank as it continues with its takeover offer for the Asia Pacific Data Centre Group (APDC).

The new deal will replace NEXTDC's existing $100 million undrawn senior secured debt facility, also with NAB.

NextDC announ...

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DOMINO'S SHARES TAKE A HIT AS FY RESULTS FALL SHORT OF EXPECTATIONS

DOMINO'S SHARES TAKE A HIT AS FY RESULTS FALL SHORT OF EXPECTATIONS

Domino's Pizza (ASX: DMP) has boosted its full year net profit by 24.8 per cent to $102.9 million, but its share price has taken a battering as its full year results fell short of its guidance provided early this year.

At around 10.40am (AEST) DMP shares were down by 15 per cent to $43.49 even though it reported double digit sales growth ...

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BLUE SKY DOUBLES PROFIT AS INVESTOR BASE AND ASSETS INCREASE

BLUE SKY DOUBLES PROFIT AS INVESTOR BASE AND ASSETS INCREASE

AN enlarged investor base coupled with a big increase in assets under management has driven Blue Sky Alternative Investments (ASX: BLA) to a full year profit of $25.6 million, an increase of 56 per cent on the previous year. The Brisbane-based investment company's FY17 report revealed assets under management (AUM) had risen to $3.25 b...

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JB HI-FI POSTS STRONG PROFIT RESULT BUT MISSES MARKET EXPECTATIONS

JB HI-FI POSTS STRONG PROFIT RESULT BUT MISSES MARKET EXPECTATIONS

HOME entertainment and electronics retailer JB Hi-Fi (ASX: JBH) has boosted its full year net profit by 13.3 per cent to $172.4 million, thanks to sales of big screen televisions, smartphones and drones.

Total sales rose 42.3 per cent to $5.63 billion for the 12 months to June 30 following November's acquisition of white goods specialist ...

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THE SOLAR POWERED DRONE THAT COULD FLY INDEFINITELY

THE SOLAR POWERED DRONE THAT COULD FLY INDEFINITELY

AN Australian company is in the process of developing a completely solar powered drone that might be capable of indefinite flight and has secured government funding for its revolutionary project. Praxis Aeronautics, based in Adelaide, has developed a prototype in which solar cells can be encapsulated into a composite material, such as the...

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TELSTRA ANSWERS CALLS FROM VITA GROUP WITH NEW EXPANSION DEAL

TELSTRA ANSWERS CALLS FROM VITA GROUP WITH NEW EXPANSION DEAL

Vita Group (ASX: VTG), has settled negotiations with Telstra (ASX: TLS) after signing a new remuneration and commercial agreement. The agreement gives approval for the Vita to operate an additional five Telstra branded retail stores on top of the existing 105 it already manages, which is intended to provide long-term benefits for both com...

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DREAMWORLD BOSS SIMON KELLY: "WE CAN DO BETTER"

DREAMWORLD BOSS SIMON KELLY: "WE CAN DO BETTER"

ARDENT Leisure, the group behind embattled theme park Dreamworld, expects its earnings to come in exceeding prior guidance, but CEO Simon Kelly thinks there's still room for improvement. The group's core EBITDA is expected to reach $76 million, slightly exceeding prior guidance of $73-75 million. Recently appointed CEO of Arde...

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BABY BUNTING RECORDS STRONG FINANCIAL YEAR RESULTS

BABY BUNTING RECORDS STRONG FINANCIAL YEAR RESULTS

BABY supplies retailer, Baby Bunting (ASX: BBN), had a strong year by anyone's standards, but right now its shares are on a sharp nosedive. The group's 2017 full year results saw the Victorian based company's profits grow by 47 per cent to $12.2 million, with total sales reaching $278 million for the year. The group's ...

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AGL PROFITS SOAR, CONSUMERS STRUGGLE WITH HIGH ENERGY PRICES

AGL PROFITS SOAR, CONSUMERS STRUGGLE WITH HIGH ENERGY PRICES

AGL (ASX: AGL) and its investors have a reason to smile following the energy group's FY17 results, but the same cannot be said for its customers as energy costs rise. Yesterday, the Sydney-based AGL reported a profit of $539 million for the financial year, which is a far cry from just last year when it reported a loss of $408 million....

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A WEAK MARKET IN ASIA FAILS TO DAMPEN REA GROUP 2017 RESULTS

A WEAK MARKET IN ASIA FAILS TO DAMPEN REA GROUP 2017 RESULTS

REA GROUP (ASX: REA) has reported a strong net profit of $228.3 million for the year ending 30 June 2017 despite weaker conditions in the Asian market. Financial highlights for the Melbourne-based property group include strong revenue growth of 16 per cent to $671.2 million, and an earnings increase of 16 per cent to $380.9 million. T...

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VIRGIN AUSTRALIA POSTS ANOTHER LOSS BUT SAYS BLUE SKIES ARE UP AHEAD

VIRGIN AUSTRALIA POSTS ANOTHER LOSS BUT SAYS BLUE SKIES ARE UP AHEAD

Virgin Australia (ASX: VAH) shares have surged nearly six per cent to a four-week high of $0.185 after the airline announced better-than-expected results after a strong improvement in the fourth quarter of 2016-17.

Virgin reported a $220.3 million statutory after-tax annual loss, due largely to a subdued market for domestic and corporate trav...

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UNDERDOG TELCO PIVOTEL COMES OUT ON TOP WITH CUSTOMER SATISFACTION

UNDERDOG TELCO PIVOTEL COMES OUT ON TOP WITH CUSTOMER SATISFACTION

BAD phone service is as inevitable as death and taxes, but newcomer and relative underdog to the telco game, Pivotel, has broken records for their customer service and care, bucking the trend of their bigger competitors. Pivotel has recorded the lowest customer complaints in reporting history, according to the latest Complaints in Context...

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ANALYSTS' 5-DAY ABOUT FACE ON MANTRA GROUP

ANALYSTS' 5-DAY ABOUT FACE ON MANTRA GROUP

JUST last Thursday, Citi analysts downgraded Mantra Group (ASX: MTR) from buy to neutral, sending shares in Australia's largest hotel chain down by seven per cent.

Citi's reasoning was that Mantra's full year earnings growth forecast of 11 per cent was unrealistic and the company had placed too high an expectation on the benefits ...

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NO BONUSES FOR CEO IAN NAREV AND COMMBANK EXECS IN WAKE OF MONEY LAUNDERING SCANDAL

NO BONUSES FOR CEO IAN NAREV AND COMMBANK EXECS IN WAKE OF MONEY LAUNDERING SCANDAL

BONUSES for Commonwealth Bank CEO Ian Narev and senior executives have been cut to zero in the wake of the money laundering scandal that hit the bank last week.

As the Commonwealth Bank (ASX: CBA) moves into overdrive to repair its reputational damage, company chair Catherine Livingstone said the board had full confidence in Narev.

However...

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THE FLYING SELFIE CAMERA THAT'S ABOUT TO HIT AUSTRALIAN STORES

THE FLYING SELFIE CAMERA THAT'S ABOUT TO HIT AUSTRALIAN STORES

THE evolution of the humble self-portrait has undergone a rapid transformation, first with the rise of the smart phone and then the addition of the selfie stick. It's an obsession that shows no sign of waning, and now selfie-taking is about to take on a new evolution in the form of the AirSelfie. The AirSelfie is a portable, pocke...

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WESTPAC INVESTS $40 MILLION IN FINTECH GROUP

WESTPAC INVESTS $40 MILLION IN FINTECH GROUP

WESTPAC Bank (ASX: WBC) has made a strategic investment of $40 million into listed fintech group zipMoney (ASX: ZML). Westpac's investment was made to implement zipMoney's products and services across Westpac's payments network. zipMoney received a $40 million strategic equity investment from Westpac at $0.81 per share, re...

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MANTRA GROUP PICKS UP LUXURY HOTEL CHAIN FOR $52.5M AS DOMESTIC EXPANSION CONTINUES

MANTRA GROUP PICKS UP LUXURY HOTEL CHAIN FOR $52.5M AS DOMESTIC EXPANSION CONTINUES

Mantra Group (ASX: MTR) has acquired the Art Series Hotel Group in a deal worth $52.5 million as it further extends the chain across Australia.

The acquisition of the seven-hotel portfolio of the group is also a move into the luxury accommodation sector and will add more than 1,000 rooms in Melbourne, Brisbane and Adelaide to Mantra's rap...

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