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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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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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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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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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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BLUE SKY DOUBLES PROFIT IN HALF YEAR RESULTS

BLUE SKY DOUBLES PROFIT IN HALF YEAR RESULTS

BLUE Sky Alternative Investments managing director Robert Shand says the company is "just scratching the surface" of its potential as the company announced a 130 per cent increase in underlying profit in the six months to 31 December.

The company revealed underlying net profit after tax (NPAT) of $10.1 million in the half year resul...

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SUNCORP INCREASES HALF YEAR PROFIT, DIVIDEND

SUNCORP INCREASES HALF YEAR PROFIT, DIVIDEND

SUNCORP has reported half year net profit after tax of $537 million for the six months to 31 December, up from $530 million in the previous corresponding period, and an increased interim dividend of $0.33 per share.

Suncorp CEO and Managing Director Michael Cameron (pictured) says that over the past 12 months, the group has been significantly...

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APOLLO INVESTS IN SHARING ECONOMY PLATFORM AND SYDNEY RV DEALERSHIP

APOLLO INVESTS IN SHARING ECONOMY PLATFORM AND SYDNEY RV DEALERSHIP

LUKE Trouchet saw three options to ensure Apollo Tourism and Leisure (ASX:ATL) wasn't disrupted by an Airbnb-style peer-to-peer campervan sharing app.

The first option was to sit back and watch what happened in the space, but the Apollo managing director says, "we weren't comfortable with that approach".

Trouchet then con...

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REVENUE AND PROFIT FLAT, BUT CAPILANO MAKES GROUND IN CHINA

REVENUE AND PROFIT FLAT, BUT CAPILANO MAKES GROUND IN CHINA

CAPILANO has increased its honey exports to China by 87 per cent in the half year to 31 December, but revenue and profit remains flat.

In the Brisbane-based company's half year results announcement today, it showed statutory net profit before tax decreased 3.8 per cent to $7.47 million, from $7.77 million the previous corresponding period...

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TIGERAIR PULLS OUT OF BALI ROUTE AS VIRGIN REPORTS 'SUBDUED' FIRST HALF

TIGERAIR PULLS OUT OF BALI ROUTE AS VIRGIN REPORTS 'SUBDUED' FIRST HALF

VIRGIN Australia (ASX:VAH) has paid down almost half of its debt in the second quarter of FY17 despite subdued domestic conditions forcing it to reduce sectors flown by 5 per cent. It's international business has also been thrown into turmoil today, as its subsidiary Tigerair, which took over Australia-Bali flights from Virgin in late 20...

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EIG PROVIDES MILLIONS FOR SENEX SURAT BASIN PROJECT

EIG PROVIDES MILLIONS FOR SENEX SURAT BASIN PROJECT

SENEX Energy has raised $55 million in an institutional placement at $0.315 per share that has brought EIG Partners on board as a major shareholder in the company as it seeks to develop the Western Surat Gas Project.

The Washington DC-based oil and gas explorer has increased its shareholding in Senex (ASX:SXY) from 2.7 per cent to 15.4 p...

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EML MAKES ITS FIRST MOVE INTO CANADA

EML MAKES ITS FIRST MOVE INTO CANADA

EML Payments has secured a multi-year agreement with Luaspay Limited to launch a winnings payout card program for electronic gaming customers in Canada.

The deal extends Brisbane-based EML's (ASX:EML) reach in North America, and marks its entry into the Canadian egaming market.

The program will allow Luaspay to offer account holders in...

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AURIZON TO TAKE $321 MILLION IMPAIRMENT IN FIRST HALF

AURIZON TO TAKE $321 MILLION IMPAIRMENT IN FIRST HALF

AURIZON will take a $321 million impairment in the first half of FY17, $85 million of which is related to its transformation and redundancy program, it announced this morning.

The Brisbane-based company (ASX:AZJ) has reaffirmed its underlying EBIT guidance of $900-$950 million and total above-rail tonnages in the range of 225-275 million tonn...

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DI MARCO SLAMS BRISBANE CITY COUNCIL IN DISPUTE OVER IT COST BLOWOUTS

DI MARCO SLAMS BRISBANE CITY COUNCIL IN DISPUTE OVER IT COST BLOWOUTS

TECHNOLOGYONE CEO Adrian Di Marco has slammed the Brisbane City Council (BCC) over its handling of a contract dispute with the company.

The Brisbane-based tech company (ASX: TNE) fell by more than $0.25 per share on the ASX on January 25 when BCC revealed cost blowouts related to the execution of a new IT system in a press release. I...

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SUNCORP BLOWS NATURAL DISASTERS BUDGET BY $40 MILLION

SUNCORP BLOWS NATURAL DISASTERS BUDGET BY $40 MILLION

Suncorp Bank (ASX: SUN) has announced that its natural disasters claims costs have blown out by $40 million from its half year budgeted allowance just weeks before it is scheduled to release its 2017 interim results.

The Bank's natural hazard allowance for Australia and New Zealand for the six months to 31 December 2016 was $310 million b...

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HIGHER OIL PRICE BOOSTS SENEX REVENUE IN SECOND QUARTER

HIGHER OIL PRICE BOOSTS SENEX REVENUE IN SECOND QUARTER

BRISBANE-based oil and gas producer and explorer Senex Energy (ASX: SXY) has increased sales revenue 28 per cent in the second quarter of FY17.

A higher realised oil price of $64 per barrel, compared to $58 the previous quarter, and increased sales volume, pushed sales revenue to $12.8 million.

In the previous corresponding period, ...

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BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The company is trading down 14.86 per cent at 11.32am (AEDT) at $10.45 per share in response to this guidance announcement this morning.

The company is expecting first-half constant-currency sales revenue growth of around 5 per cent a...

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CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal in Australia.

The company's co-founder, Greg Roebuck, who has been MD and CEO of Carsales since 2002, announced his retirement yesterday,  the same day global auto-industry powerhouse Cox Automotive completed its merger...

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DATA#3 TRADES AT 12-MONTH HIGH AS PROFIT GROWS

DATA#3 TRADES AT 12-MONTH HIGH AS PROFIT GROWS

DATA#3 expects net profit before tax to rise 30 per cent in the first half of FY17, meeting its guidance for the period.

The Brisbane-based business (ASX: DTL) expects to report $8 million NPBT, up from $6.1 million the previous corresponding period.

The number is consistent with the first half projection from the Data#3 AGM in...

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CRITICS CALL FOR MORE INDEPENDENT DIRECTORS ON BLUE SKY BOARD

CRITICS CALL FOR MORE INDEPENDENT DIRECTORS ON BLUE SKY BOARD

BLUE Sky Alternative Investments (ASX: BLA) has defended its governance and valuation processes in response to several critical reports from analysts that have emerged in the media recently.

Concerns have been raised about the company's lack of independent directors on its seven-member board, where only the chairman is independent, and th...

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BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

VEGEMITE is back under Australian ownership after Bega Cheese (ASX: BGA) agreed to buy Mondelez International's Australia and New Zealand grocery and cheese business for $460 million.

The business includes brands such as Vegemite, ZoOSh and Bonox and KRAFT-branded products such as peanut butter, processed cheese slices, mayonnaise, parmes...

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SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

AP EAGERS (ASX: APE) will beat guidance with its sixth-consecutive record profit when it reports its full year results in late February.

In an update released to the ASX this morning, the Brisbane-based company says it will achieve a statutory net profit before tax of $141.4 million for the 12 months to 31 December 2016, an increase of 17 per...

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CANADA A JEWEL IN THE ROUGH FOR MICHAEL HILL

CANADA A JEWEL IN THE ROUGH FOR MICHAEL HILL

MICHAEL HILL has reported a 5.7 per cent increase in store sales for the six months to 31 December driven by its expansion, but same-store growth was sluggish or negative in every market but Canada.

Total sales of AU$328 million were achieved across four countries: Australia, New Zealand, Canada and the United States.

Growth was led...

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EML SEALS DEAL ON ONE OF ITS 'MOST IMPORTANT AGREEMENTS' TO DATE

EML SEALS DEAL ON ONE OF ITS 'MOST IMPORTANT AGREEMENTS' TO DATE

EML Payments (ASX: EML) has finalised a major multi-year agreement to provide new salary packaging prepaid cards to Melbourne's McMillan Shakespeare Limited (ASX: MMS) and its clients. EML managing director Tom Cregan says the deal is a landmark, with his company set to replace McMillan Shakespeare's existing prepaid cards by July...

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BOQ BOLSTERS FINANCE DIVISION WITH $20M BUYOUT

BOQ BOLSTERS FINANCE DIVISION WITH $20M BUYOUT

IN LINE with its strategy to target niche segments, Bank of Queensland (ASX: BOQ) has announced that it will acquire Centrepoint Alliance Limited's (ASX: CAF) premium funding business for $20 million. The premium funding arm currently originates around 30,000 new loans per annum mostly to small and medium-sized businesses. In FY16...

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ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

A MAJOR pending partnership between national airlines is under fire, as the Australian Competition and Consumer Commission (ACCC) proposes to deny its authorisation. The partnership in question, between Virgin Australia Airlines, Virgin Australia Regional Airlines (VARA) and Alliance Aviation Services (ASX: AQZ), proposes to give the airl...

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ACQUISITIONS PUT THE WIND BACK UNDER FLIGHT CENTRE'S WINGS

ACQUISITIONS PUT THE WIND BACK UNDER FLIGHT CENTRE'S WINGS

FLIGHT Centre (ASX: FLT) has completed a string of corporate travel acquisitions across Europe, a move which is expected to generate a further 110 million turnover for the company during FY17. The travel agent finalised the buyout of several businesses throughout Germany, Sweden, Finland, Norway and Denmark for an undisclosed sum. Fli...

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DISAPPOINTED BUT RELIEVED - FLIGHT CENTRE REACTS TO END OF PRICE FIXING SAGA

DISAPPOINTED BUT RELIEVED - FLIGHT CENTRE REACTS TO END OF PRICE FIXING SAGA

FLIGHT Centre (ASX:FLT), which has been embroiled in a price fixing court case with consumer watchdog the Australian Competition and Consumer Commission, has issued a statement saying that although it is disappointed with the result, it welcomes the end of the litigation which spans over seven years.

On Wednesday this week, the High Court rul...

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