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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DOMINO'S COMPLETES JOEY'S PIZZA TRANSITION IN GERMANY AHEAD OF SCHEDULE

DOMINO'S COMPLETES JOEY'S PIZZA TRANSITION IN GERMANY AHEAD OF SCHEDULE

DOMINO'S Pizza (ASX: DMP) has completed the final stages of its acquisition of Germany's Joey's Pizza, and has completed the final conversion of the acquired stores to Domino's six months ahead of schedule.

Brisbane-based Domino's and UK listed Domino's Pizza Group plc (DPG) announced in December 2015 the formatio...

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JAMIE PHEROUS SAYS CORPORATE TRAVEL MANAGEMENT WELL PLACED TO LEVERAGE GLOBAL ECONOMIC RECOVERY

JAMIE PHEROUS SAYS CORPORATE TRAVEL MANAGEMENT WELL PLACED TO LEVERAGE GLOBAL ECONOMIC RECOVERY

Yesterday, Corporate Travel Management (ASX:CTD) announced the acquisition of two businesses: Redfern in the United Kingdom; and Andrew Jones Travel in Tasmania.

The purchases, to be funded by a $71 million capital raise, are the company's first in FY17 and follow the successful acquisitions of US businesses Montrose Travel and Travi...

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ACCC WINS APPEAL IN FLIGHT CENTRE PRICE FIXING CASE

ACCC WINS APPEAL IN FLIGHT CENTRE PRICE FIXING CASE

THE Australian Competition and Consumer Commission has today won a High Court appeal in relation to Flight Centre's attempt to induce three international airlines to enter into price-fixing arrangements between 2005 and 2009 in relation to air fares offered online by the airlines that were cheaper than those offered by Flight Centre.

The ...

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LATEST BUYBACK FIRMS UP ABEDIANS' CONTROL OF SUNLAND

LATEST BUYBACK FIRMS UP ABEDIANS' CONTROL OF SUNLAND

THE Abedian family is poised to tighten its grip on Sunland Group (ASX:SDG) after announcing a new program to buy back up to 10 per cent of the high-profile developer's issued capital.

Neither company chairman Soheil Abedian nor managing director Sahba Abedian will participate in the buyback, but a successful completion of the program ove...

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BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, which broke in a storm on 13 November.

Ships have not been able to retrieve coal from Queensland Bulk Handling (QBH) since the incident and New Hope will now work with its customers to recover the shipping backlog.

QBH's ...

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ACCC GIVES GO-AHEAD FOR NEWS CORP TO BUY ARM

ACCC GIVES GO-AHEAD FOR NEWS CORP TO BUY ARM

NEWS Corporation (ASX: NWS) has been given the green light to acquire Australian Regional Media (ARM) from APN News and Media (ASX: APN), following a review by Australia's competition watchdog. The Australian Competition and Consumer Commission (ACCC) launched its review in August, and shortly after published a 'statement of issue...

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SUPERLOOP ONE STEP CLOSER TO BIGAIR ACQUISITION

SUPERLOOP ONE STEP CLOSER TO BIGAIR ACQUISITION

BIGAIR (ASX:BGL) shareholders have given Superloop (ASX:SLC) the green light to acquire the telecommunications company. Just over 97 per cent of shareholders voted in favour of the scheme of arrangement, which would allow the Brisbane-based company to purchase all of the BigAir shares it doesn't already own. BigAir will seek order...

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STRAIGHT TALK: NEW BLUE SKY MANAGING DIRECTOR ROBERT SHAND HAS HIT THE GROUND RUNNING

STRAIGHT TALK: NEW BLUE SKY MANAGING DIRECTOR ROBERT SHAND HAS HIT THE GROUND RUNNING

ROBERT Shand says people have asked him how he has stayed so relaxed in taking control of Blue Sky Alternative Investments (ASX: BLA) from its founder and talisman Mark Sowerby.

When Sowerby stepped down in August, 10 years after founding the company, it came as a shock to many.

At the time, the company had a market capitalisation o...

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WATPAC CHARGES AHEAD WITH NEW $170M BANK FACILITY

WATPAC CHARGES AHEAD WITH NEW $170M BANK FACILITY

WATPAC (ASX:WTP) has finalised a new $170 million syndicated banking facility to tackle multiple large-scale projects. The Brisbane-based developer has secured bank guarantees with Bank of Queensland (ASX:BOQ), BNP Paribas, Commonwealth Bank of Australia (ASX:CBA) and HSBC. The new arrangement is a $50 million increase in Watpac's...

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QUADRANT GETS THE GREEN LIGHT TO LIFT ITS GYM GAME

QUADRANT GETS THE GREEN LIGHT TO LIFT ITS GYM GAME

QUADRANT Fund 5 is free to flex its muscles further in the gym market, after Australia's competition watchdog announced today that it wouldn't oppose the company's acquisition of the Fitness First Asia Pacific Group. As the owner of the Goodlife Health Clubs network and lead franchisor of Jetts Fitness, Quadrant set the market...

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TRAPROCK SEEKS FUNDS IN ASX IPO TO SEARCH HISTORIC QUEENSLAND MINES FOR GOLD

TRAPROCK SEEKS FUNDS IN ASX IPO TO SEARCH HISTORIC QUEENSLAND MINES FOR GOLD

A FLEDGING exploration company with hopes of opening a gold-copper mine near Rockhampton is seeking to raise $6.5 million in an ASX IPO.

"The best place to find a gold mine is in a goldfield, and that's exactly where Traprock will be exploring with the funds raised from this IPO," says Traprock's managing director, David Jel...

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KFC COOKS UP STRONG RESULTS FOR COLLINS FOODS

KFC COOKS UP STRONG RESULTS FOR COLLINS FOODS

COLLINS Foods' (ASX:CKF) half-year profits have sizzled after adding more than 20 KFC stores to its network across Australia and market entry into Europe. The Brisbane-based food service operator recorded a 17.2 per cent lift in net profit to $16.8 million for the half-year ending October 16. Revenue was up 4.7 per cent to $282.5 ...

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RIGHTCROWD REVERSE TAKEOVER MOVES A STEP CLOSER

RIGHTCROWD REVERSE TAKEOVER MOVES A STEP CLOSER

STEVE Terry has resigned as managing director of Omni Market Tide (ASX:OMT) as the company negotiates the transition to its new structure through the reverse takeover of RightCrowd.

His resignation clears the way for RigthCrowd founder, and its current CEO, Peter Hill, to take control of the company as managing director.

As reported recent...

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ALS EXITS OIL AND GAS SECTOR AFTER PRICE PRESSURES HIT PROFIT

ALS EXITS OIL AND GAS SECTOR AFTER PRICE PRESSURES HIT PROFIT

UNCERTAINTY in the global resources sector has hit ALS Limited's (ASX:ALQ) half-year profits, prompting the lab testing provider to divest its oil and gas business. The Brisbane-based company posted a 17 per cent decline in net profit to $51.4 million over the six months to September, compared to the previous half-year. Revenue wa...

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EML PAYMENTS WILL 'BLOW YOUR SOCKS OFF', SAYS ANALYST

EML PAYMENTS WILL 'BLOW YOUR SOCKS OFF', SAYS ANALYST

EML Payments (ASX:EML) is generating buzz among investors looking for ASX-listed companies with exposure to the United States.

In a recent Livewire Markets Buy Hold Sell: US Dollar Earners video, Shane Fitzgerald (pictured), from Monash Investors, is asked, "which stock will blow your socks off?" He replies, "I absolutely love ...

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OROCOBRE DIVESTS LITHIUM TRIANGLE PROJECTS IN ARGENTINA

OROCOBRE DIVESTS LITHIUM TRIANGLE PROJECTS IN ARGENTINA

OROCOBRE (ASX:ORE) will divest a number of lithium brine exploration projects to a Canadian resource company to pursue a bigger fish. The Brisbane-based miner will sell the assets held through its Argentine subsidiary South American Salars SA (SAS) to Toronto Stock Exchange-listed Advantage Lithium Corp. Advantage Lithium will issue m...

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JUMBO INTERACTIVE CUTS ITS LOSSES IN GERMANY

JUMBO INTERACTIVE CUTS ITS LOSSES IN GERMANY

LOTTERY platform Jumbo Interactive (ASX:JIN) will scale down operations in Germany rather than continue to flog a dead horse. The Brisbane-based business plans to stop ongoing losses from its German internet lottery division and focus on the Australian market. Jumbo Interactive founder and CEO Mike Veverka (pictured) says adverse cond...

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AACO DRIVES LUXURY BEEF STRATEGY AS PROFIT DIPS

AACO DRIVES LUXURY BEEF STRATEGY AS PROFIT DIPS

AUSTRALIAN Agricultural Company (ASX:AAC) has posted a dip in half-year profits to $47.9 million, as it shifts towards the global luxury beef segment. The result is an almost 4 per cent decline for the six months to September 30 compared to a year earlier. The Brisbane-based business reported a 20 per cent lift in operating EBITDA of ...

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SOFTWARE BOOM DELIVERS ANOTHER RECORD YEAR FOR TECHNOLOGYONE

SOFTWARE BOOM DELIVERS ANOTHER RECORD YEAR FOR TECHNOLOGYONE

TECHNOLOGYONE (ASX:TNE) has marked its 17th consecutive year of record revenues, backed by strong growth in its Software as a Service (SaaS) business. The Brisbane-based enterprise software developer posted a 14 per cent lift in revenue to $249 million for full-year ending September 30. The results also exceeded market guidance for pr...

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