VILLA WORLD TAPS MARKET IN $80m CAPITAL RAISING TO RAMP UP GROWTH

VILLA WORLD TAPS MARKET IN $80m CAPITAL RAISING TO RAMP UP GROWTH

Residential property developer Villa World (ASX: VWL) is ramping up its growth strategy on Australia's east coast "hot spots" with an $80 million capital raising venture.

The Gold Coast-based company, which develops and sells residential land and buildings mostly in Queensland, NSW and Victoria, is looking to grow its inven...

Read More...
IS MANTRA GROUP IN THE SIGHTS OF ASIAN INVESTORS?

IS MANTRA GROUP IN THE SIGHTS OF ASIAN INVESTORS?

Mantra Group (ASX:MTR) is rumoured to be a takeover target, with Asian investors and the InterContinental Hotel Group linked to the Gold Coast based hotel group.

The Australian is reporting that the speculation is taking place as major international hotel operators search for growth opportunities in Australia.

Mantra is considered a prime ...

Read More...
GRACE LOVES LACE DRESSED FOR BRITISH SUCCESS

GRACE LOVES LACE DRESSED FOR BRITISH SUCCESS

IT'S safe to say that most Gold Coast brides searching for the perfect dress have, at least once, laid eyes on a number by Grace Loves Lace. The brand, founded by Megan Ziems, boasts intricate and affordable designs handcrafted exclusively from fine French and European lace and silks. Due to the success of her existing showrooms, ...

Read More...
NATIONAL STORAGE PACKS OUT ITS OFFERING

NATIONAL STORAGE PACKS OUT ITS OFFERING

NATIONAL Storage REIT (ASX: NSR) has announced its plans to acquire a new prime location at Bundall, adjacent to the former Masters Hardware store. The group, headed by managing director Andrew Catsoulis, has entered arrangements with Leyshon Group to jointly develop the Gold Coast site which boasts 6,900sqm of retail and warehouse space....

Read More...
COAST CONTINUES TO BREAK TOURISM RECORDS

COAST CONTINUES TO BREAK TOURISM RECORDS

IN CASE there was any doubt the Gold Coast remains one of the nation's key tourist hotspots, the city has once again beaten records for its number of international visitors in 2017. The International Visitor Survey (IVS) conducted by Gold Coast Tourism revealed a 13.9 per cent increase in visitor traffic during 2017, as a total of 1.0...

Read More...
GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offshore manufacturing.

"We never thought that after 108 years of making bricks in Australia, we would now need to investigate manufacturing overseas," says Millner.

Millner says Brickworks' recent gas contract neg...

Read More...
VILLA WORLD ADDS CLYDE LAND TO VICTORIA DEVELOPMENT PIPELINE

VILLA WORLD ADDS CLYDE LAND TO VICTORIA DEVELOPMENT PIPELINE

HOUSING developer Villa World (ASX:VLW) has bought a 42 hectare site at Clyde, south east of Melbourne, for $33 million, adding to its growing portfolio in Victoria.

Villa World CEO and managing director, Craig Treasure, says he considers the Melbourne market to be strong right now, buoyed by population growth.

The state's new first ho...

Read More...
DREAMWORLD RECOVERY CONTINUES

DREAMWORLD RECOVERY CONTINUES

REVENUES at Dreamworld continue to improve following the tragedy at the theme park in October last year, when four people died on the Thunder River Rapids Ride.

The theme parks division of Sydney-based Ardent Leisure (ASX:AAD) recorded unaudited revenue of $4.4 million during February 2017, down 35 per cent on the previous corresponding ...

Read More...
SONAND TURNS THE TIDE AT SURFSTITCH

SONAND TURNS THE TIDE AT SURFSTITCH

SURFSTITCH (ASX:SRF) has reduced its losses in the first half of FY17 as new CEO Mike Sonand executed his turnaround strategy.

In his first full half in charge of the Gold Coast-based action sports electronic retailer, Sonand reduced losses from continuing operations to $5.6 million, compared to $13.6 million the previous corresponding period...

Read More...
EUREKA IMPROVES WHILE MANAGEMENT REMAINS UNIMPRESSED

EUREKA IMPROVES WHILE MANAGEMENT REMAINS UNIMPRESSED

EUREKA Group has collected the gains on its 'buy and build' strategy to achieve a net profit of $6.29 million, up 72 per cent on the prior corresponding period (pcp).

The company's acquisition of 483 new freehold units helped boost total income to $15.56 million, a $9.47 million increase over pcp.

Earnings before interes...

Read More...
FASHION RETAILER'S TAKEOVER IN DOUBT AS PROFIT CLIMBS

FASHION RETAILER'S TAKEOVER IN DOUBT AS PROFIT CLIMBS

IN the thick of takeover talks, Specialty Fashion Group (ASX: SFH) worked hard to cut costs and see its bottom line benefit for the half year to December.

The owner-operator of brands including Rivers, Katies, Crossroads and Millers welcomed a profit rise to $12.1 million, an increase of 36.8 per cent on the $8.8 million achieved in the ...

Read More...
NVC PLAYS A DIFFERENT GAME, AND WINS

NVC PLAYS A DIFFERENT GAME, AND WINS

AS its profits rise, National Veterinary Care's (ASX: NVL) focus on training over retail is proving to be a winning strategy. Managing director Tomas Steenackers says NVC, which is a healthcare conglomerate of vet clinics across Australia and New Zealand, is 'well placed to deliver shareholder value in H2FY2017 and beyond'. ...

Read More...
PWR PROFIT CRASHES AS DOLLAR RISES AND COSTS MOUNT

PWR PROFIT CRASHES AS DOLLAR RISES AND COSTS MOUNT

A RISING Aussie dollar has offset PWR Holdings Limited's (ASX:PWH) overseas growth in the last half, forcing a profit (NPAT) drop of 44 per cent to $1.8 million. While revenue increased 0.8 per cent to reach $18.6 million, earnings before interest, tax, depreciation and amortisation (EBITDA) dropped by 36.2 per cent to $3.4 million. ...

Read More...
BILLABONG'S SALES DEPARTMENT STILL STRUGGLING

BILLABONG'S SALES DEPARTMENT STILL STRUGGLING

SURFWEAR retailer Billabong International (ASX: BBG) hasn't posted any surprises to the ASX.

The Burleigh Heads business is still struggling in the sales department, with total group sales down 9.5 per cent year-on-year to $508.3 million.

It took in $39.3 million in earnings before interest, taxes, depreciation and amortisation (EBITDA...

Read More...
ARDENT TAKES $95.2 MILLION HIT FROM DREAMWORLD TRAGEDY

ARDENT TAKES $95.2 MILLION HIT FROM DREAMWORLD TRAGEDY

ARDENT Leisure has taken a $95.2 million write-down on the value of its Dreamworld theme park following the tragedy that left four people dead and closed the park for 45 days from October.

The company (ASX:AAD) has reported a $49.4 million loss for the first half of FY17, compared to a $22.7 million profit in the previous corresponding period...

Read More...
AGENT EXITS, LOW LISTINGS HURT MCGRATH

AGENT EXITS, LOW LISTINGS HURT MCGRATH

PROFITS have dived 72 per cent at real estate group McGrath (ASX:MEA) to $2.4 milllion on the back of low property listings.

Listings with company-owned offices were down 20 per cent in the half year, and there's been an exodus of agents, which has dampened sales results.

McGrath speculates Australians have been put off selling ...

Read More...
RETAIL FOOD GROUP RISES

RETAIL FOOD GROUP RISES

RETAIL Food Group's (ASX: RFG) 17.3 per cent profit rise to $33.5 million for the first half of FY17 was received warmly in early trade on the ASX today.

The Gold Coast company, which owns and operates more than 2500 outlets of brands including Donut King and Crust Pizza, was trading up 4.21 per cent at $6.44 per share at 12.31pm AEDT.

...

Read More...
HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

G8 EDUCATION (ASX: GEM) has secured $212.8 million from Hong Kong-based CFCG Investment Partners to pay down debt and fund its continued expansion.

Today's announcement comes alongside the Gold Coast-based childcare operator's full-year results, which include 10.2 per cent growth in revenue to $778.5 million and underlying earnings be...

Read More...
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 ...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
$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 ...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...
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...

Read More...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter