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CROMWELL CALLS FOR FULL DISCLOSURE FROM INVESTA

CROMWELL CALLS FOR FULL DISCLOSURE FROM INVESTA

CROMWELL Property Group (ASX:CRM) has claimed Investa Office Fund (ASX:IOF) has not disclosed material information about its financial position to the ASX.

In the process, the Brisbane-based company has taken a backhanded swipe at its takeover target, saying it may up its bid for the company to up to $4.75 if Investa opens its books.

Cromw...

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FRAUD CAUSES SILVER CHEF PROFIT SLIDE

FRAUD CAUSES SILVER CHEF PROFIT SLIDE

EQUIPMENT financier Silver Chef (ASX:SIV) has seen its half-year profit slide due to fraud.

The Brisbane company reported an underlying profit after tax of $6.9 million to the ASX today, down from $7.6 million in the same period in 2015.

The underlying result was determined after adding back a provision for asset impairment of $2.3 million...

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MEGAPORT QUADRUPLES REVENUE AND INVESTS IN EXPANSION

MEGAPORT QUADRUPLES REVENUE AND INVESTS IN EXPANSION

MEGAPORT (ASX: MP1) increased revenue 345 per cent to $4.46 million in the six months to 31 December 2016, the company reported today in its half year results, but it is still trading at a loss.

The elastic interconnection services provider is in a growth phase and is working with partners such as Digital Realty, Seaborn, and CyrusOne to...

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IN-STORE VETS BOOST GREENCROSS' PROFIT

IN-STORE VETS BOOST GREENCROSS' PROFIT

GREENCROSS Limited (ASX: GXL) shares lifted 5 per cent in trading today after the Brisbane-based company posted a net profit of $21.9 million, beating its previous interim result by 17 per cent. The veterinarian and pet goods giant increased its revenue by 14 per cent to $412.3 million, a result reflected in the company's successful l...

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AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA for the first time has the capacity to produce carbon fibre from scratch and at scale, following the launch of a wet spinning line at Deakin University's Waurn Ponds campus, outside of Geelong.

The university worked alongside the CSIRO and an Italian manufacturer to develop the machine, which was considered the "missing lin...

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HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

G8 EDUCATION (ASX: GEM) has secured $212.8 million from Hong Kong-based CFCG Investment Partners to pay down debt and fund its continued expansion.

Today's announcement comes alongside the Gold Coast-based childcare operator's full-year results, which include 10.2 per cent growth in revenue to $778.5 million and underlying earnings be...

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MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

TERRY White Group has posted a solid half-year net profit of $1.3 million amid a period of major transformation for the company. Following the merger between its subsidiary Terry White Chemists with Chemmart in October 2016, Terry White Group's nationwide store network has more than doubled in size to include around 500 pharmacies. ...

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BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: Michael Gordon and Philip Hennessy.

The two appointments go some way to address criticism about the previous lack of independent directors on Blue Sky's board. Previously, chairman, John Kain, was the single independent mem...

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INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

AN influx of international retail brands into Australia over the next five years are expected to push up demand for floor space, says CBRE head of research for Australia, Stephen McNabb.

The retail commercial property sector is attracting keen interest, despite a modest rental growth of 1-2 per cent forecast in the year ahead, according to CB...

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MANTRA BOASTS OF SUCCESSFUL HOTEL INTEGRATION AS NET PROFIT GROWS 15 PER CENT

MANTRA BOASTS OF SUCCESSFUL HOTEL INTEGRATION AS NET PROFIT GROWS 15 PER CENT

MANTRA Group (ASX:MTR) CEO Bob East has praised the performance of the company's new Honolulu Hotel as it posted a 15.1 per cent increase in net profit after tax to $31.8 million for the year to 31 December 2016.

The Gold Coast-based group added three new resorts: Ala Moana Hotel in Honolulu, Hawaii; Mantra Residences @ Southport Central ...

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WHITEHAVEN TRIPLES EARNINGS, PAYS DOWN DEBT AFTER COAL PRICE TURNAROUND

WHITEHAVEN TRIPLES EARNINGS, PAYS DOWN DEBT AFTER COAL PRICE TURNAROUND

THE HIGH coal price has allowed Whitehaven Coal to triple earnings and pay down a large portion of its debt in the first half of FY17.

The company (ASX:WHC) has reported a net profit after tax of $157.5 million for the half year ended 31 December 2016, an increase of $149.7 million on the previous corresponding period.

Sales revenue of $82...

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BABY BUNTING BUOYED BY CLICKS AND BRICKS PERFORMANCE

BABY BUNTING BUOYED BY CLICKS AND BRICKS PERFORMANCE

BABY Bunting has grown sales 18.1 per cent to $135.1 million in the first half of FY17, sweetened by the opening of its 40th store nationwide and strong performance through its online channels. The baby goods retailer (ASX:BBN) posted a pro forma net profit after tax (NPAT) of $5.7 million for the 27-week period ending 1 January 2017, up ...

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MICHAEL HILL SHOWS STEADY GROWTH IN TOUGH RETAIL CONDITIONS

MICHAEL HILL SHOWS STEADY GROWTH IN TOUGH RETAIL CONDITIONS

MICHEAL Hill overcame tough trading conditions in the lead up to Christmas to increase net profit after tax 3.4 per cent to $25.8 million in the six months ended 31 December 2016.

It has been a tough few months for retailers in Australia, where at least two well-known fashion groups have entered voluntary administration during the period...

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CROWN ARRESTS IMPACT STAR RESULT AS VIP BUSINESS FALTERS

CROWN ARRESTS IMPACT STAR RESULT AS VIP BUSINESS FALTERS

THE Star Entertainment Group is feeling the pinch of a 17.7 per cent drop in normalised profit (NPAT) following troubled times for its VIP business. The high-roller market in China was thrown into disarray in October 2016 when 18 Crown employees across a number of Chinese cities were detained for gambling related crimes, a factor which th...

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RECEIVERS SELL SPRINGFIELD TOWER FOR $17 MILLION

RECEIVERS SELL SPRINGFIELD TOWER FOR $17 MILLION

SPRINGFIELD Tower has been sold in a $17 million deal around five months after it was placed into the hands of receivers.

JLL sought expressions of interest over a five-week period until late September 2016, on behalf of receivers PPB Advisory.

Located in Springfield Central, the ten-storey office building provides 9,459sqm net lett...

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SLATER AND GORDON SLUMPS ANOTHER 24% ON ASX ON DEBT FEARS AND DISAPPOINTING PERFORMANCE

SLATER AND GORDON SLUMPS ANOTHER 24% ON ASX ON DEBT FEARS AND DISAPPOINTING PERFORMANCE

SLATER and Gordon (ASX:SGH) is at the mercy of its bankers as it seeks to recapitalise its debt, which is worth more than the entire company.

In a trading update released today, Slater and Gordon says its troubled UK business is recovering more slowly than expected and may be subject to a further write down.

Meanwhile, revenue at its Austr...

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CROMWELL CALLS FOR COMPETITIVE PROCESS FOR INVESTA SALE

CROMWELL CALLS FOR COMPETITIVE PROCESS FOR INVESTA SALE

CROMWELL Property Group (ASX:CMW) has accused the responsible entity for Investa Office Fund (ASX:IOF) of acting unreasonably, and deliberately frustrating the Brisbane-based company's efforts to place a second bid for the fund.

In late November, Investa Listed Funds Management Limited (ILFML), which is the responsible entity for IOF...

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JACKPOTS BUST TATTS PROFIT

JACKPOTS BUST TATTS PROFIT

AN unprecedented run of jackpot wins has put a damper on Tatts' profit this half, cutting the result by a significant 16.5 per cent compared to 1H16. Despite delivering a positive statutory net profit of $122.8 million, the company couldn't achieve its previous benchmark of $147 million due to an exceptional 24 jackpots, worth mor...

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TECHFUGEES GEARING UP AT RIVER CITY LABS

TECHFUGEES GEARING UP AT RIVER CITY LABS

UP TO 80 of the country's top tech minds will converge on Brisbane's River City Labs next month when the startup accelerator plays host to the 2017 TechfugeesBNE hackathon. Teams with a range of creative, tech, design and business skills are invited to take part in the three-day event, where they will collectively design a workabl...

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WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent premium over the ASX200, a new index has found. The Employee Ownership Australian Index (EOAI) reveals that companies which are at least 30 per cent owned by employees tend to have better environmental, social and governance stand...

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RECORD PROFIT IN SIGHT FOLLOWING STRONG HALF FOR VILLA WORLD

RECORD PROFIT IN SIGHT FOLLOWING STRONG HALF FOR VILLA WORLD

VILLA World (ASX: VLW) has met its forecast to deliver a $19.6 million profit following a strong sales period across all its state markets. During 1H17, the Gold Coast-based company achieved a boosted revenue of $209.4 million through the sale of 673 lots. The developer expects to beat its record FY16 profit result by at least $3.8 mi...

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DOMINO'S PLUMMETS AS PRESSURE MOUNTS OVER WAGE INVESTIGATION

DOMINO'S PLUMMETS AS PRESSURE MOUNTS OVER WAGE INVESTIGATION

IT'S good news on the balance sheet but bad news on the ASX for Domino's Pizza Enterprises (ASX: DMP) today, as the company dropped 14.36 per cent to a 12-month low of $53.56 per share despite a 31 per cent rise in first half net profit. The Brisbane headquartered company saw its profit soar to $59.7 million and has issued a lift ...

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NICK SCALI REPORTS BIG PROFIT BOOST

NICK SCALI REPORTS BIG PROFIT BOOST

FURNITURE retailer Nick Scali Limited (ASX:NCK) has recorded $20.5 million profit for the half year to December 31, up 44.7 per cent on the same period the previous year.

Sales revenue is up 15.5 per cent to $118.4 million at the Sydney-based company, while same store sales growth was 10.1 per cent.

Gross margins strengthened to 62 per cen...

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HOW TO CREATE COMPETITIVE ADVANTAGE THROUGH A DIGITAL STRATEGY

HOW TO CREATE COMPETITIVE ADVANTAGE THROUGH A DIGITAL STRATEGY

WHEN Adam Laurie and Robert Dalessandro (pictured) bought wastewater treatment business Cleanawater in 2011, they had to Google what its products were and how they worked.

The Digital360 founders knew nothing about the business, but that was part of the plan because Cleanawater was a living, working case study into how digital technology coul...

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AN EAR TO THE GROUND IN R&D PAYS OFF FOR COCHLEAR

AN EAR TO THE GROUND IN R&D PAYS OFF FOR COCHLEAR

SOLID performance in overseas markets and successful new research and development (R&D) initiatives has pushed Cochlear to strong half year results.

Net profit, and earnings before interest & tax (EBIT) hit totals of $111.4 million and $156.4 million respectively, with both results climbing 19 per cent from HY16.

Revenue scaled up ...

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SURREY HILLS HOTEL SELLS FOR $26.1 MILLION

SURREY HILLS HOTEL SELLS FOR $26.1 MILLION

LANTERN Hotels (ASX:LTN) has divested the last of its hotels with the sale of Surrey Hills Landmark Crown Hotel for $26.1 million to Peak Investments.

The transaction represented the final pub sale in the group's repositioning and divestment strategy. It was sold at a 51 per cent premium to the June 2016 book value of the hotel.

The sa...

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RISE OF THE MACHINES HAS WORKERS SWEATING

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown.

Airtasker's 2017 Future of Work study revealed that around 16 per cent of Australians believe their current role will be made redundant by a machine within the next five years, with 71 per cent of the population believing ...

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JB HI-FI MAKES RECORD SALES IN FIRST HALF FY17

JB HI-FI MAKES RECORD SALES IN FIRST HALF FY17

JB HI-FI has delivered record sales and earnings for the half year to 31 December, in what group CEO, Richard Murray (pictured), says has rounded out a strong 12 months for the company in Australia.

Total sales are up 23.6% on the prior corresponding period (pcp) to $2.6 billion, underlying EBIT is up 30.9% to $180.8 million, underlying NPAT ...

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DOMINO'S HITS BACK AT CLAIMS OF WIDESPREAD WAGE FRAUD

DOMINO'S HITS BACK AT CLAIMS OF WIDESPREAD WAGE FRAUD

DOMINO'S says only 21 of its 714 Australia and New Zealand stores were unprofitable in FY16 as it has hit back at allegations that it squeezes franchisees out of profitability, and underpays its workers.

Domino's (ASX:DMP) says the financial performance of its franchise network is strong, that it sets high ethical standards of it...

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LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector's priorities says Australian Small Business and Family Enterprise ombudsman (ASBFEO) Kate Carnell.

Carnell wants action on issues such as business tax cuts, competition reform, unfair contracts, government procurement ...

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