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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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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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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VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

QUEENSLAND visitors to Village Roadshow (ASX: VRL) theme parks have declined 12 per cent in the wake of four deaths at Ardent Leisure's (ASX: AAD) Dreamworld.

While the company's Gold Coast theme parks, Wet'n'Wild and Warner Brothers Movie World, have maintained "solid" interstate and international visitor numbers in...

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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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BELEAGUERED SURFSTITCH FACES FURTHER LEGAL WRANGLE OVER INTELLECTUAL PROPERTY

BELEAGUERED SURFSTITCH FACES FURTHER LEGAL WRANGLE OVER INTELLECTUAL PROPERTY

SURFSTITCH has severed ties with Streamline, the IT services company owned by its estranged co-founder Justin Cameron as the two businesses prepare for a fight over intellectual property.

It is a sign of the bitter fight between Cameron (pictured) and the online surf retail business that he co-founded alongside Lex Pedersen, who remains a dir...

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$6 MILLION BLOW TO ARDENT LEISURE SINCE DREAMWORLD REOPENING

$6 MILLION BLOW TO ARDENT LEISURE SINCE DREAMWORLD REOPENING

ARDENT Leisure's (ASX: AAD) revenue has taken a $6 million hit since the reopening of Dreamworld and Whitewater World on December 10, six weeks after four died while on Dreamworld's Thunder River Rapids Ride.

The company reported a 63 per cent revenue drop for the period 10 December to 31 December compared to the corresponding period ...

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LEADERSHIP SHAKE-UP FOR G8 EDUCATION

LEADERSHIP SHAKE-UP FOR G8 EDUCATION

AUSTRALIA'S largest listed childcare centre operator G8 Education (ASX:GEM) has announced a major leadership shake-up to take effect from January 1.

Founding managing director Chris Scott (pictured left with Jae Fraser and Chris Sacre) will step aside from the role he has held since 2010 following a takeover by Scott of G8's form...

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SURFSTITCH'S SENSATIONAL CLAIMS AGAINST CO-FOUNDER

SURFSTITCH'S SENSATIONAL CLAIMS AGAINST CO-FOUNDER

EMBATTLED action sports retailer SurfStitch's (ASX:SRF) sale of its Surf Hardware International business has been overshadowed by sensational claims by the company against its former CEO Justin Cameron (pictured).

The news has emerged after SurfStitch filed its defence against a legal action brought by one of its major shareholders, and s...

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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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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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BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

ONLINE actionwear retailer SurfStitch Group (ASX: SRF) has announced a major board shake-up in a move that effectively strips executive influence from remaining company co-founder Lex Pedersen.

Pedersen, along with Surfdome founder Justin Stone, will resign as executive directors of SurfStitch at the end of December as the struggling Gold Coa...

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G8 SHARES BUOYED BY FORECAST PROFIT RECOVERY

G8 SHARES BUOYED BY FORECAST PROFIT RECOVERY

CHILDCARE centre operator G8 Education (ASX:GEM) has revealed it is on track to post a pre-tax profit of up to $162 million this calendar year, giving investors reason to push the share price higher in a broadly weaker market. The forecast result makes up for a shortfall in earnings during the first half, which caused shareholders to shar...

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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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REOPENING DATE SET FOR DREAMWORLD

REOPENING DATE SET FOR DREAMWORLD

DREAMWORLD will reopen on 10 December, six weeks after four people died on one of its rides - an incident that has so far cost the company $13.4 million.

The theme park will reopen as a mechanical and operational safety review nears completion, says Dreamworld's parent company, Ardent Leisure (ASX:AAD) in a statement this morning.
...

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BILLABONG'S FANS SHOW THAT IT'S ALL ABOUT THE BRAND

BILLABONG'S FANS SHOW THAT IT'S ALL ABOUT THE BRAND

SURFWEAR retailer Billabong International (ASX:BBG) may still be struggling to return to profit, but its brand has been a winner on social media.

The Gold Coast-based company, which revealed tough retail conditions in the first few months of the current financial year, has managed to boost its social media following by 20 per cent over the pa...

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AMAZING RACE PUTS TOURISM WORKERS BACK IN TOUCH

AMAZING RACE PUTS TOURISM WORKERS BACK IN TOUCH

A NEW 'amazing race' style workshop designed for Gold Coast Tourism professionals has proven an important point prior to the Commonwealth Games: being a tourist in your own city is good for business. City of Gold Coast partnered up with Gold Coast Tourism to launch the Discover Gold Coast Challenge, a program designed for business...

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INFINITUS CHINA TO TAKE A RECORD $50 MILLION COAST HOLIDAY

INFINITUS CHINA TO TAKE A RECORD $50 MILLION COAST HOLIDAY

AROUND 8,000 international delegates will flock to the Gold Coast next May, as Chinese personal healthcare giant Infinitus hosts its holiday incentive program for top-performing employees. During their six-day stay, Infinitus delegates are pegged to inject a whopping $50 million into the local tourism economy, with the group representing ...

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SURFSTITCH FENDS OFF QUESTIONS FROM LITIGANT SHAREHOLDER

SURFSTITCH FENDS OFF QUESTIONS FROM LITIGANT SHAREHOLDER

ONLINE surf and action-wear retailer SurfStitch (ASX:SRF) kicked off its annual general meeting on the defensive this morning as chairman Sam Weiss fended off a series of questions raised by potential suitor and major shareholder Kim Sundell's Crown Financial group.

Weiss told shareholders at the Sydney meeting that Sundell had submitted ...

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DREAMWORLD TO DEMOLISH RIVER RAPIDS RIDE THAT KILLED FOUR PEOPLE

DREAMWORLD TO DEMOLISH RIVER RAPIDS RIDE THAT KILLED FOUR PEOPLE

DREAMWORLD's Thunder River Rapids Ride, where four people died in October, will be permanently closed.

In a statement from Dreamworld owner Ardent Leisure (ASX: AAD), CEO and managing Director, Deborah Thomas, says the closure of the ride is the only respectful and appropriate course of action.

"Out of respect for the memories of ...

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POLICE CONCLUDE DREAMWORLD INVESTIGATION

POLICE CONCLUDE DREAMWORLD INVESTIGATION

POLICE have concluded analysis of the scene at Dreamworld following the deaths of four tourists on a ride at the Coomera theme park last month.

The site has been returned to the control of its owners, Ardent Leisure, and ongoing investigations are now under the control of the Coroner.

The park has remained a crime scene during the past two...

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VULTURES CIRCLING SURFSTITCH AS ONE OFFER REJECTED

VULTURES CIRCLING SURFSTITCH AS ONE OFFER REJECTED

THE vultures have begun circling action sports online retailer SurfStitch (ASX:SRF) with the company today revealing it has rejected an unsolicited offer from a major shareholder as too weak for consideration. The Gold Coast-based company, which has seen its shares smashed over the past year following steep profit downgrades and a string ...

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WE'RE NOT DICING WITH CHINA, SAYS THE STAR

WE'RE NOT DICING WITH CHINA, SAYS THE STAR

THE Star Entertainment Group (ASX:SGR) has distanced itself from the problems faced by James Packer's Crown Resorts (ASX:CWN) in China despite revealing that it sources a quarter of gross revenue from VIP junkets out of Asia. Chairman John O'Neill, addressing Star shareholders at the AGM on the Gold Coast this morning, confronted ...

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NEW TERRYWHITE CHEMMART BRAND ROLLS OUT

NEW TERRYWHITE CHEMMART BRAND ROLLS OUT

TERRY White and Chemmart will covert the 500-store network of the merged group to the new brand TerryWhite Chemmart.

The first rebranded store has opened at Glenferrie Road, Hawthorn; it is expected to take until the end of 2017 to convert the entire chain.

Terry White CEO, Anthony White, says, "Both brands have a strong heritage and ...

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AMBITION REMAINS AS SUNLAND PULLS $600M MARINER PLAN

AMBITION REMAINS AS SUNLAND PULLS $600M MARINER PLAN

SUNLAND Group (ASX: SDG) has withdrawn its proposed twin-tower development on The Spit after the City of Gold Coast earlier this month announced it was deferring a decision on the controversial proposal for at least 12 months.

However, the Brisbane-based property developer has not given up its ambitions for a major development of the Mar...

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FLIGHT CENTRE IGNITES LEISURE MARKET WITH ACQUISITION

FLIGHT CENTRE IGNITES LEISURE MARKET WITH ACQUISITION

FLIGHT Centre Travel Group (ASX:FLT) has invested in a Gold Coast-based travel retailer to bolster its presence in the leisure market. The Brisbane-based business acquired a 49 per cent stake in Ignite Travel Group, which specialises in curated holiday packages, travel vouchers and reward programs, for an undisclosed amount. 2012 Gold...

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SURFSTITCH SHARES HALVED AS LOSS HITS $155M

SURFSTITCH SHARES HALVED AS LOSS HITS $155M

ONLINE actions sports retailer SurfStitch (ASX:SRF) endured another day of pain on the stock market as its shares more than halved on news that its annual loss has blown out to $154.7 million. The FY16 result by the Gold Coast-based company, a former subsidiary of Billabong (ASX:BBG), has been impacted by $99.3 million in goodwill impairm...

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RAPTIS POSTS FIRST PROFIT IN ALMOST A DECADE

RAPTIS POSTS FIRST PROFIT IN ALMOST A DECADE

GOLD Coast developer Raptis Group (ASX) has scratched out its first annual profit in almost a decade after resuming development activities this year.

The company, which formerly spent eight years in the corporate wilderness under a deed of company arrangement with creditors, has posted a net profit of $55,146.

The lean result is a reflecti...

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RFG CAPS OFF BIG YEAR AS SHARES SURGE 65%

RFG CAPS OFF BIG YEAR AS SHARES SURGE 65%

RETAIL Food Group (ASX:RFG) shares gained further ground today as the company finished off a solid week with another record annual profit and an $88 million acquisition.

The shares edged 3 per cent higher to more than $6.60, bringing the Gold Coast-based franchise group's share gains over the past year to 65 per cent.

It has been a sha...

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THE STAR SYDNEY OFFSETS WEAKNESS IN QUEENSLAND

THE STAR SYDNEY OFFSETS WEAKNESS IN QUEENSLAND

STRONGER earnings from its flagship Sydney casino have offset a weaker performance in Queensland to help The Star Entertainment Group (ASX: SGR) boost net profit by 14.9 per cent to $194.4 million.

The Star Sydney (pictured) proved a magnet for both high rollers and domestic players in FY16, with gross revenue rising 7.5 per cent to $1.65 bil...

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