SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close its US office as it expects its full-year loss to double. SurfStitch on Monday announced that weak apparel and footwear sales in its key markets, particularly in the UK, will drag it deeper into the red than the $5 million-$6.5...

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AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

IT'S BEEN a big few days for medical cannabis manufacturer AusCann (ASX: AC8), as the company emerged from a trading halt today to announce that it had successfully raised $12 million in a share placement with new institutional investors.

The placement received strong interest from both domestic and global companies, as cornerstone invest...

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APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

THE PROPOSED $1.6 billion merger between Australia's two largest advertising groups, APN (ASX: APO) and oOh!media (ASX: OML) has been called off this morning, amid concerns the agreement would wash out competition in the out-of-home advertising industry.

The ACCC outlined its position earlier in the month that the merger would create...

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ANALYSTS FORECAST A GRIM CHOICE FOR OROTON: SELL UP OR QUIT THE ASX

ANALYSTS FORECAST A GRIM CHOICE FOR OROTON: SELL UP OR QUIT THE ASX

FOLLOWING a warning to the market and a subsequent trading halt earlier in the week which has shaved more than $11 million from Oroton's (ASX: ORL) market value, analysts say the company's choices have essentially boiled down to two: sell its brands to an overseas buyer or quit the ASX altogether. Citi analysts are saying the comp...

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PERFECT STORM HITS VIRGIN AS COMPANY POSTS WEAKEST QUARTER IN HISTORY

PERFECT STORM HITS VIRGIN AS COMPANY POSTS WEAKEST QUARTER IN HISTORY

OFF THE back one of the most severe weather events to hit Queensland in the past decade, Virgin Australia (ASX: VAH) has posted its weakest quarterly result to date. Virgin has reported a statutory loss of $69 million for 3Q17, which amounts to a total statutory loss of $90.6 million for the nine months to 31 March 2017. In a release ...

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OROTON'S SHARE PRICE IN FREE FALL AFTER 'UNACCEPTABLE' PROFIT DOWNGRADE

OROTON'S SHARE PRICE IN FREE FALL AFTER 'UNACCEPTABLE' PROFIT DOWNGRADE

SHARES in fashion retailer Oroton (ASX: ORL) have plunged more than 20 per cent in today's trade after announcing its full year earnings will be down around $10 million on the previous year.

Oroton released its update before the market opened on Wednesday after requesting a trading halt on Monday ahead of the announcement, which interim C...

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MEGAPORT'S GLOBAL EXPANSION CONTINUES WITH ALIBABA CLOUD DEAL IN CHINA

MEGAPORT'S GLOBAL EXPANSION CONTINUES WITH ALIBABA CLOUD DEAL IN CHINA

MEGAPORT Limited (ASX: MP1), a Brisbane-based interconnectivity provider, has entered into a partnership with Chinese tech giant Alibaba which will provide its customers with direct access to Alibaba Cloud.

The deal will connect users of Megaport's platform to Alibaba's Cloud Express Connect, a high speed and secure network connection...

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OFFICEWORKS IPO WRITTEN OFF BY WESFARMERS DUE TO CHALLENGING RETAIL MARKET

OFFICEWORKS IPO WRITTEN OFF BY WESFARMERS DUE TO CHALLENGING RETAIL MARKET

RUMOURS surrounding the Officeworks IPO have proven to be true, as Wesfarmers confirmed this morning that its office supplies subsidiary will not float on the ASX.

In mid-February, Wesfarmers announced that it would be undertaking a strategic review of Officeworks and investigating its potential for an IPO.

However, in the face of a...

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TIDE TURNS TO TV AS QLD FILM MAKERS SECURE FIRST EVER AUSTRALIAN NETFLIX ORIGINAL

TIDE TURNS TO TV AS QLD FILM MAKERS SECURE FIRST EVER AUSTRALIAN NETFLIX ORIGINAL

BRISBANE and Gold Coast film makers are abuzz with today's announcement that its studios will soon play host to the first Netflix Original TV series wholly created in Australia.

Tidelands, written and developed by Brisbane-based production house Hoodlum, is expected to cement the south-east corner's reputation for high quality TV show...

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NEW PARISIAN GEM ADDED TO FLIGHT CENTRE'S EUROPEAN OFFERING

NEW PARISIAN GEM ADDED TO FLIGHT CENTRE'S EUROPEAN OFFERING

FLIGHT Centre (ASX: FLT) has added the Paris-based 3Mundi travel and technology business to its portfolio, marking the latest in a string of overseas acquisitions for the Brisbane travel company within the past year.

The deal will see Flight Centre take over a minority interest (25 per cent) in 3Mundi with an option to increase its holding to...

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40 YEARS OF PILLOW TALK: HOW IT SURVIVED IN A TOUGH RETAIL ENVIRONMENT

40 YEARS OF PILLOW TALK: HOW IT SURVIVED IN A TOUGH RETAIL ENVIRONMENT

It started as a tiny startup with five employees to become the "Bunnings" of the bedding industry, and Heath Goddard's bedding business may still be racking up milestones after 40 years, but he still isn't getting carried away.

"It's all rather irrelevant to me. I very rarely take a photograph of anything I've e...

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QLD'S CHIEF ENTREPRENEUR ON CURRENT 'TSUNAMI' OF TALENT: MARK SOWERBY EXCLUSIVE INTERVIEW PART 1

QLD'S CHIEF ENTREPRENEUR ON CURRENT 'TSUNAMI' OF TALENT: MARK SOWERBY EXCLUSIVE INTERVIEW PART 1

HE SPENT a decade conceiving and building Blue Sky Alternative Investments (ASX: BLA) into an ASX top 300 company and when Mark Sowerby stood down as managing director in August 2016, he was looking to spend more time with his growing family after years of long hours away from home.

But he'd barely packed his cardboard box and said h...

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AACO STEPS UP OPERATIONS ON MIXED FY17 RESULTS

AACO STEPS UP OPERATIONS ON MIXED FY17 RESULTS

THE Australian Agricultural Company (AACo) has harvested a mixed crop of FY17 results, increasing net profit by five percent to $71.5 million despite an 11 per cent revenue drop to $383 million.

Although the company's meat sale margin dropped by more than 10 per cent, on the other hand its operating EBITDA margin tripled to hit $45 millio...

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VITA GROUP FORECASTS RECORD FULL YEAR PROFITS, BUT EXPANSION PUT ON HOLD

VITA GROUP FORECASTS RECORD FULL YEAR PROFITS, BUT EXPANSION PUT ON HOLD

VITA Group (ASX: VTG), which operates Telstra-branded retail outlets, has forecast a record full year underlying EBITDA for 2017 of between $63 million and $66 million despite a "challenging" second half. The profit forecast compares to underlying EBITDA in FY16 of $62 million, and was issued just a month after rumours that Tels...

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MEGAPORT'S 'LA STORY' AS IT CONNECTS WITH THE US ON A NEW INTERNATIONAL ROUTE

MEGAPORT'S 'LA STORY' AS IT CONNECTS WITH THE US ON A NEW INTERNATIONAL ROUTE

Megaport Limited (ASX: MP1), a Brisbane-based interconnectivity provider, has continued its ex-pansion by establishing a Sydney to Los Angeles link which will cater for growing demand for its services.

The company says enabling this route is a milestone for its customers who want to use key cloud nodes outside of its main hubs of Australia an...

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LEGAL PROCUREMENT DISRUPTOR SECURES $500,000 FUNDING BOOST

LEGAL PROCUREMENT DISRUPTOR SECURES $500,000 FUNDING BOOST

IT'S ONLY been two years since Warwick Walsh left a career in private practice to establish Lawcadia, a tech-based legal procurement company that has already drawn serious attention from the industry, not to mention serious funding.

The entrepreneur noticed a gap in the market around the way that companies procure and manage legal service...

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RV SPECIALIST APOLLO ACCELERATES ACQUISITION GROWTH, ANNOUNCES PROFIT UPGRADE

RV SPECIALIST APOLLO ACCELERATES ACQUISITION GROWTH, ANNOUNCES PROFIT UPGRADE

RECREATIONAL vehicle company Apollo Tourism & Leisure (ASX: ATL) has announced plans for two major acquisitions in Canada and Australia to be funded with a $40 million capital raising.

The Brisbane-based company will buy the TSX-listed CanaDream, one of the largest RV rental and sales companies in Canada, to boost its footprint in the Nor...

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ARDENT LEISURE SHARE PRICE DROPS AGAIN AS THEME PARKS CONTINUE TO STRUGGLE

ARDENT LEISURE SHARE PRICE DROPS AGAIN AS THEME PARKS CONTINUE TO STRUGGLE

ARDENT Leisure's (ASX: AAD) theme park division is still losing money with visitation numbers in March and April down by 36.7 per cent compared to the same period last year.

Figures also reveal revenues from the theme parks division was down $9.6 million, a drop of 38.9 per cent as the company continues to struggle following the trag...

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EVE DIPS INTO HEMP HONEY THROUGH LATEST ACQUISITION

EVE DIPS INTO HEMP HONEY THROUGH LATEST ACQUISITION

EVE Investments (ASX: EVE) has dipped into the honeypot buy a 50 per cent stake in tea tree and honey farmer Jenbrook for a total consideration of $1.49 million. The technology investment company entered into the agreement to acquire Jenbrook for its large asset base in organic essential oils, extracts and carrier oils, as well as its res...

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TRAVEL GIANTS FLYING HIGH AFTER ISSUING POSITIVE FULL YEAR FORECASTS

TRAVEL GIANTS FLYING HIGH AFTER ISSUING POSITIVE FULL YEAR FORECASTS

BRISBANE'S top two travel companies, Flight Centre (ASX: FLT) and Corporate Travel Management (ASX: CTD) both experienced a remarkable share price surge after revealing solid forecast earnings to its full year targets. CTD was the standout performer on the ASX on Thursday with shares surging 8.5 per cent to a record high of $22 while ...

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SMALL BUSINESSES GIVEN THE CHANCE TO NETWORK AND EXPAND DURING QLD SMALL BUSINESS WEEK

SMALL BUSINESSES GIVEN THE CHANCE TO NETWORK AND EXPAND DURING QLD SMALL BUSINESS WEEK

QUEENSLAND is celebrating the engines of the local economy this month with Queensland Small Business Week 2017 (QSBW).

QSBW runs from May 15 to 20 and is a celebration of small business, giving owners the opportunity to acquire new ideas, skills and tools so they can take their business to the next level.

Events during the week will...

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ACCC RAISES CONCERNS OVER APN MERGER WITH oOh!media

ACCC RAISES CONCERNS OVER APN MERGER WITH oOh!media

THE COMPETITION regulator has waved a warning flag at the proposed $1.6 billion merger between Australia's two biggest advertising groups APN (ASX: APO) and oOh!media (ASX: OML).

Australian Competition and Consumer Commission (ACCC) chairman Rod Sims says the proposed merger will create a market leader in out-of-home advertising in A...

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TABCORP AND TATTS MERGER HITS HURDLE AS ACCC VOICES CONCERNS

TABCORP AND TATTS MERGER HITS HURDLE AS ACCC VOICES CONCERNS

THE competition regulator has thrown doubt into the proposed takeover of Tatts (ASX: TTS) by Tabcorp (ASX:TAH), arguing that the claimed public benefits from the deal were "overstated".

In a report to the Australian Competition Tribunal, The Australian Competition and Consumer Commission (ACCC) says the merger will also result in le...

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2017 BRISBANE TOP COMPANIES REVEALED

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50 Brisbane companies confirmed this change with a diverse range of businesses that drive the economy and create jobs. From the conservative bank and insurance stalwarts to real estate, financial services, travel, IT, food stapl...

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2017 BRISBANE TOP COMPANIES 1-10

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have had their fair share of issues to deal with but remain resilient in a changing economy. Cyclone Debbie caused problems for insurer Suncorp, rail freight provider Aurizon and to a less extent, Bank of Queensland, while Domino'...

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2017 BRISBANE TOP COMPANIES 11-20

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathroom fittings and storage: this eclectic mix of companies highlights the diversity of business in Brisbane. Virgin Australia highlighted the volatility of the airline industry as it turned in a first half loss while Cromwell...

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2017 BRISBANE TOP COMPANIES 21-30

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO in Phil Taylor and they joined some other fast movers. Pinnacle Investment Management Group also made a rapid rise while Superloop CEO Bevan Slattery's acquisition of telecommunications provider SubPartners is expected to...

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2017 BRISBANE TOP COMPANIES 31-40

2017 BRISBANE TOP COMPANIES 31-40

TWO new listings dominate this group of companies in the form of Antipodes Global Investment Company Limited and Apollo Tourism and Leisure. Anitpodes has a focussed investment strategy and is already running at a profit while Apollo has set themselves a goal of becoming the go-to place for anyone wanting to buy or rent an RV. And Aus...

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2017 BRISBANE TOP COMPANIES 41-50

2017 BRISBANE TOP COMPANIES 41-50

MOTORCYCLE Holdings has nearly doubled its share price since listing last year and it leads a group of four debutants which includes Metro Mining Limited, Runge Pincock Minarco and National Veterinary Care. Metro Mining is the only new miner to the top 50 and there are high hopes for its new project in northern Queensland. And all eyes a...

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2017 BRISBANE TOP COMPANIES: NEW TO THE LIST

2017 BRISBANE TOP COMPANIES: NEW TO THE LIST

IT HAS certainly been a year where interesting players have joined the Top Companies game. From the conservative bank and insurance stalwarts to real estate, IT and agricultural companies, you can now add some left field plays into the mix with motorcycles, veterinary services and even a new miner just to keep us all on our toes. In a...

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