REPORTING SEASON WRAP: MONDAY HIGHLIGHTS

REPORTING SEASON WRAP: MONDAY HIGHLIGHTS

* FORTESCUE Metals (ASX: FMG) reported net profit after tax (NPAT) of $2.64 billion for the year to June 30, up from $1.24 billion from the previous year on the back of strong iron ore prices. Revenue for the year rose 19 percent to $10.65 billion.
  * G8 Education (ASX: GEM) announced NPAT of 23 percent to $30.5 million for the pr...

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ARIADNE CUTS DEMANDS FOR FOUR ARDENT BOARD SEATS TO TWO AHEAD OF EGM

ARIADNE CUTS DEMANDS FOR FOUR ARDENT BOARD SEATS TO TWO AHEAD OF EGM

REBEL shareholders have reduced their demands on embattled theme parks operator Ardent Leisure (ASX: AAD) to give them four board spots, after the company acknowledged there was a need for board renewal.

Ariadne Australia (ASX: ARA), Ardent's largest shareholder, was pushing for one of its executives, Gary Weiss, and three other of its ow...

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VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver steady financial results. Vita Group, the consultative sales organisation which owns several Telstra outlets, boosted its revenue by five per cent to $674.6 million and its net profit margin by three per cent to hit $39 millio...

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WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 years ago as it faces intense competition from Woolworths and German chain Aldi.

Wesfarmers revealed Coles' earnings plunged 13.5 per cent to $1.61 billion which is the first earnings decline since it acquired the business in...

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TATTS GROUP POSTS PROFIT AND REVENUE DROP ON FEWER JACKPOTS AND BAD WEATHER FOR RACING

TATTS GROUP POSTS PROFIT AND REVENUE DROP ON FEWER JACKPOTS AND BAD WEATHER FOR RACING

TATTS Group (ASX: TTS) has posted a full year net profit loss of 5.7 percent and a revenue decline of 8.4 per cent as it absorbs some of the cost of its controversial planned merger with Tabcorp Holdings (ASX: TAH).

The gaming company's net profit for the financial year to 30 June 2017, came in at $220.5 million which is down from $233.7 ...

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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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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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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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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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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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CAPILANO PRODUCES SWEET PROFIT FOLLOWING A YEAR OF CONSOLIDATION

CAPILANO PRODUCES SWEET PROFIT FOLLOWING A YEAR OF CONSOLIDATION

HONEY manufacturer Capilano (ASX: CZZ) has delivered a solid net profit of $10.3 million (up 9 per cent on FY16) despite a shaky domestic honey market, operational costs and research and development into new products. Total revenue dropped slightly to $133 million and was impacted by marketing costs associated with its new Beeotic honey p...

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AUSTRALIAN MEDICINAL CANNABIS GROUP LAUNCHES ANIMAL HEALTH PRODUCT IN SWITZERLAND

AUSTRALIAN MEDICINAL CANNABIS GROUP LAUNCHES ANIMAL HEALTH PRODUCT IN SWITZERLAND

CRESO Pharma Limited (ASX: CPH) will launch its original hemp-based animal feed products in Switzerland. The Australian based Creso has signed an exclusive commercialisation agreement with Virbac Switzerland to distribute its hemp-based complementary feed products for pets in Switzerland and Liechtenstein. Virbac, the seventh largest ...

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NUTRITION BRAND AMAZONIA SET TO MAKE WAVES IN PARTNERSHIP WITH PRO SURFER SALLY FITZGIBBONS

NUTRITION BRAND AMAZONIA SET TO MAKE WAVES IN PARTNERSHIP WITH PRO SURFER SALLY FITZGIBBONS

SURFING legend Sally Fitzgibbons has been named global brand ambassador for certified organic supplement company Amazonia on a two-year contract.

Amazonia is responsible for establishing the acai superfood trend in Australia and its supplement range now includes products such as raw nutrition packs and organic protein powders.

The health-c...

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ASF SAYS IT WAS NOT CONSULTED ON SHOCK DECISION TO SCUPPER ITS GOLD COAST CASINO PROJECT

ASF SAYS IT WAS NOT CONSULTED ON SHOCK DECISION TO SCUPPER ITS GOLD COAST CASINO PROJECT

THE company behind the planned new Gold Coast Casino and resort complex has hit out at the Queensland Government's shock decision to terminate the contract and is looking at options to find 'a suitable and equitable solution to the matter'.

ASF, a Chinese-backed consortium which is ASX listed (ASX: AFA), has spent an estimate...

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FLIGHT CENTRE LANDS IN QUEBEC AS PART OF ITS AGGRESSIVE INTERNATIONAL EXPANSION STRATEGY

FLIGHT CENTRE LANDS IN QUEBEC AS PART OF ITS AGGRESSIVE INTERNATIONAL EXPANSION STRATEGY

Flight Centre's (ASX: FLT) international expansion strategy continues after it acquired a travel operator based in Canada's Quebec province for an undisclosed sum.

The Brisbane-based travel group has picked up Les Voyages Laurier du Vallon (LDV), one of Quebec's largest independent travel agencies, to strengthen its presence in th...

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SUNCORP SHARES PLUNGE MORE THAN 6 PER CENT ON FY RESULTS

SUNCORP SHARES PLUNGE MORE THAN 6 PER CENT ON FY RESULTS

SUNCORP Group (ASX: SUN) shares have taken a battering after its full year results showed a profit of $1.075 billion, which was below some analysts' expectations. The lender and insurance giant's net profit rose by 3.6 percent, while Deutsche Bank forecast it would hit five per cent. The Brisbane-based company will pay a final...

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PIONEERING AUSTRALIAN WINE MAKING ITS WAY TO CHINA

PIONEERING AUSTRALIAN WINE MAKING ITS WAY TO CHINA

DAWINE Limited (ASX: DW8) will soon be exporting one of Australia's most famous wines into China, tapping into a $520 million market. Dawine has confirmed it received the exclusive rights to sell Vasse Felix Winery wines on its Tmall online store, via Vasse Felix's existing distribution channels in China. Vasse Felix was estab...

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ISENTIA KILLS OFF KING CONTENT AND ISSUES ANOTHER PROFIT WARNING

ISENTIA KILLS OFF KING CONTENT AND ISSUES ANOTHER PROFIT WARNING

MEDIA monitoring group iSentia (ASX: ISD) has issued a negative profit warning and has written off the value of its troubled content marketing business, King Content.

iSentia says full year guidance is now expected to be $155.1 million which is well down from its earlier estimates of $162 million, while underlying EBITDA is expected to b...

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NEW GOLD COAST CASINO AND RESORT REJECTED IN SHOCK ANNOUNCEMENT

NEW GOLD COAST CASINO AND RESORT REJECTED IN SHOCK ANNOUNCEMENT

THE Queensland Government has terminated a planned multi-billion dollar resort and casino on the Gold Coast, saying that there needs to be a balance between environmental and commercial concerns.

The resort, which had the backing of Chinese company ASF, was to have been built on Crown land on the Spit at Southport with a five tower integrated...

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AUSTRALIA'S NBL PULLS OFF MAJOR DEAL WITH NORTH AMERICA'S NBA TO PLAY IN THE US

AUSTRALIA'S NBL PULLS OFF MAJOR DEAL WITH NORTH AMERICA'S NBA TO PLAY IN THE US

The National Basketball Association (NBA) and the National Basketball League (NBL) today announced that the Brisbane Bullets, Sydney Kings and Melbourne United will take part in the 2017 NBA preseason in October, marking the first time that NBL teams will travel to the US to play against NBA teams.

The NBA is the world's premier basketbal...

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NEXTDC RAMPS UP ITS TAKEOVER OFFER OF ASIA PACIFIC DATA CENTRE

NEXTDC RAMPS UP ITS TAKEOVER OFFER OF ASIA PACIFIC DATA CENTRE

NEXTDC Limited (ASX: NXT) has increased its takeover offer for listed data infrastructure group Asia Pacific Data Centre Group (ASX: AJD) from $1.85 per share to $1.87. The move follows last week's announcement that NEXTDC would enter a bidding war with competitor 360 Capital Group (ASX: TGP) to takeover APDC. The takeover bid sti...

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TECHNOLOGYONE CONTRACT TERMINATED, DI MARCO SLAMS BRISBANE COUNCIL

TECHNOLOGYONE CONTRACT TERMINATED, DI MARCO SLAMS BRISBANE COUNCIL

FOLLOWING the war of words between tech services provider TechnologyOne (ASX: TNE) and Brisbane Lord Mayor Graham Quirk, the Brisbane City Council (BCC) has terminated its contract with TechnologyOne. The contract to supply 13 customer service systems in Brisbane City has been the subject of ongoing, public dispute between the BCC and Tec...

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FACTS MATTER IN TAX REFORM DEBATE

FACTS MATTER IN TAX REFORM DEBATE

Politicians can have differing opinions in the company tax debate, but they shouldn't mislead the public about the facts," Business Council chief executive Jennifer Westacott said after Opposition Leader Bill Shorten today repeated his patently untrue claim that company tax reductions 'impede growth'. The Opposition Leade...

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BILLABONG SHARES WIPE OUT AFTER TERMINATION OF OMNI-CHANNEL DEAL

BILLABONG SHARES WIPE OUT AFTER TERMINATION OF OMNI-CHANNEL DEAL

SURFWEAR and lifestyle retailer Billabong (ASX: BBG) has suffered a share price fall of more than seven per cent after it cancelled an omni-channel solution provider agreement which will result in a $11.7 million impairment in FY17.

The company says it's committed to rolling out its own omni-channel solution and it has also confirmed that...

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