STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she might be surprised learn that instead of flying, the Starships' main pursuit will be fast food delivery courtesy of Domino's Pizza. Just over three months since Domino's Group (ASX: DMP) acquired the Joey's Pizz...

Read More...
MYER GROWS PROFIT AMID STRONG COMPETITION AND CONSUMER FATIGUE

MYER GROWS PROFIT AMID STRONG COMPETITION AND CONSUMER FATIGUE

MYER'S half-year sales announced today have been described as "encouraging" by CEO and MD, Richard Umbers, but the retailer's shares fell 5.26 per cent on the ASX.

The market was unimpressed by a 5.3 per cent growth in profit to $62.8 million, compared to the previous corresponding period, as the company's sales dec...

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...
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...
LOSSES MOUNT AT SLATER AND GORDON

LOSSES MOUNT AT SLATER AND GORDON

SLATER and Gordon's losses continue to mount following its disastrous entry in to the UK market. The company today announced a $425.1 million loss for the six months to 31 December 2016, which follows a $958.3 million loss in the previous corresponding period. On the ASX, Slater and Gordon closed down 22 per cent at $0.125 per sha...

Read More...
SLATER AND GORDON FILES CLASS ACTION AGAINST BELLAMY'S

SLATER AND GORDON FILES CLASS ACTION AGAINST BELLAMY'S

SLATER AND GORDON (ASX:SGH), with funding from IMF Bentham (ASX:IMF), has filed its class action against Bellamy's Organic (ASX:BAL) in the Federal Court of Australia.

The action was filed on behalf of all investors who acquired shares in the company between 14 April 2016 and 9 December 2016.

It alleges that Bellamy's made m...

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...
CROWN RESORTS TAKES PROFIT HIT AND LOSES CEO, BUT TRADING UP ON THE ASX

CROWN RESORTS TAKES PROFIT HIT AND LOSES CEO, BUT TRADING UP ON THE ASX

CROWN Resorts' (ASX: CWN) profit has dropped 9.1 per cent in the half year to 31 December, as VIP earning plummeted.

The normalised profit after tax figure stood at $191.3 million, which is an adjusted amount 'excluding the impact of any variance from theoretical win rate' on VIP win play and significant items.

Australia...

Read More...
BABY BUNTING BUOYED BY CLICKS AND BRICKS PERFORMANCE

BABY BUNTING BUOYED BY CLICKS AND BRICKS PERFORMANCE

BABY Bunting has grown sales 18.1 per cent to $135.1 million in the first half of FY17, sweetened by the opening of its 40th store nationwide and strong performance through its online channels. The baby goods retailer (ASX:BBN) posted a pro forma net profit after tax (NPAT) of $5.7 million for the 27-week period ending 1 January 2017, up ...

Read More...
SLATER AND GORDON SLUMPS ANOTHER 24% ON ASX ON DEBT FEARS AND DISAPPOINTING PERFORMANCE

SLATER AND GORDON SLUMPS ANOTHER 24% ON ASX ON DEBT FEARS AND DISAPPOINTING PERFORMANCE

SLATER and Gordon (ASX:SGH) is at the mercy of its bankers as it seeks to recapitalise its debt, which is worth more than the entire company.

In a trading update released today, Slater and Gordon says its troubled UK business is recovering more slowly than expected and may be subject to a further write down.

Meanwhile, revenue at its Austr...

Read More...
JB HI-FI MAKES RECORD SALES IN FIRST HALF FY17

JB HI-FI MAKES RECORD SALES IN FIRST HALF FY17

JB HI-FI has delivered record sales and earnings for the half year to 31 December, in what group CEO, Richard Murray (pictured), says has rounded out a strong 12 months for the company in Australia.

Total sales are up 23.6% on the prior corresponding period (pcp) to $2.6 billion, underlying EBIT is up 30.9% to $180.8 million, underlying NPAT ...

Read More...
AUSTRALIA'S TALLEST TOWER APPROVED FOR SOUTHBANK

AUSTRALIA'S TALLEST TOWER APPROVED FOR SOUTHBANK

CROWN Resorts (ASX:CWN) and joint venture partner Schiavello Group have received planning approval to develop the $2 billion, 90-storey Queensbridge Hotel Tower at Melbourne's Southbank, which will be known as One Queensbridge.

At 323 metres tall, the six-star hotel, designed by London-based Wilkinson Eyre, will be Australia's tallest...

Read More...
FASHION RETAILER BUCKS THE TREND

FASHION RETAILER BUCKS THE TREND

MELBOURNE fast fashion retailer Premier Investments (ASX: PMV) has bucked the flagging retail sales trend and is expecting record first half sales.

The company owns Richmond headquartered The Just Group, which holds brands including Smiggle, Peter Alexander, Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. It also has a 25.7 per cent ...

Read More...
BROO BUYS MILDURA BREWERY FOR $1 MILLION

BROO BUYS MILDURA BREWERY FOR $1 MILLION

BROO Limited (ASX: BEE) will acquire Victoria's Mildura Brewery for $1 million. The Mildura Brewery, located in the former Astor Theatre, is a locally operated beer production and brewery pub business in Mildura, Victoria, which has been in operation since December 2004. The Mildura Brewery was one of the first craft breweries and contr...

Read More...
BHP'S IRON ORE OUTPUT AT RECORD HIGH, COPPER PRODUCTION DROPS

BHP'S IRON ORE OUTPUT AT RECORD HIGH, COPPER PRODUCTION DROPS

DESPITE a fall in BHP's copper output, the company announced today record production of 118 million tonnes of iron ore for the last six months of 2016, up four per cent from the previous year.

"We have performed well during a period of higher prices, with record iron ore volume achieved in Western Australia Iron Ore," says chief...

Read More...
REDBUBBLE TO MISS IPO FORECASTS

REDBUBBLE TO MISS IPO FORECASTS

REDBUBBLE, the online marketplace for independent artists, will miss a series of forecasts set out in its IPO in its first-half results due late next month.

In unaudited market guidance released today, the company (ASX: RBL) says it will miss forecasts on gross transaction value, revenue, margins, profit, and operations expenditure.

Gross ...

Read More...
BLUESCOPE CONTINUES STRONG RUN WITH GUIDANCE UPGRADE

BLUESCOPE CONTINUES STRONG RUN WITH GUIDANCE UPGRADE

BLUESCOPE Steel (ASX: BSL) is trading up 7.51 per cent at $11.16 per share after upgrading its half-year guidance this morning.

The company expects its underlying earnings before interest and taxt (EBIT) for the six months ended 31 December 2016 to be around $600 million, compared with prior guidance of $510 million.

The company puts this ...

Read More...
SLATER & GORDON AND MAURICE BLACKBURN SHOWDOWN IN BELLAMY'S CLASS ACTION

SLATER & GORDON AND MAURICE BLACKBURN SHOWDOWN IN BELLAMY'S CLASS ACTION

FIERCE rivals Slater & Gordon (ASX: SGH) and Maurice Blackburn have secured funding for class actions against Bellamy's Organic (ASX: BAL) today.

Slater & Gordon will be funded by IMF Bentham (ASX: IMF), while Maurice Blackburn is working with the newly launched Investor Claim Partner (ICP). Both are investigating a case on b...

Read More...
BHP AND VALE EDGE CLOSER TO $47.5 BILLION SAMARCO DAM DISASTER SETTLEMENT

BHP AND VALE EDGE CLOSER TO $47.5 BILLION SAMARCO DAM DISASTER SETTLEMENT

BHP Billiton (ASX: BHP) and Brazilian mining company Vale have entered into a preliminary agreement with Brazilian federal prosecutors to settle the $47.5 billion civil lawsuit brought after the Samarco dam disaster, which occurred on 5 November 2015.

The failure of the dam, which is owned by Samarco, a joint venture between Vale and BHP Bill...

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...
CSL'S PROFIT UPGRADE CAUSES SHARES TO SOAR

CSL'S PROFIT UPGRADE CAUSES SHARES TO SOAR

HEALTHCARE giant CSL Limited's (ASX: CSL) share price climbed 12.5 per cent after the company almost doubled its net profit guidance for FY17.

In August last year, the company foreshadowed that its FY17 net profit was expected to grow by around 11 per cent at a constant currency compared to the previous financial year.

But the r...

Read More...
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...

Read More...
SIRTEX CEO DISMISSED FOLLOWING SHARE TRADING PROBE

SIRTEX CEO DISMISSED FOLLOWING SHARE TRADING PROBE

SIRTEX Medical Ltd (ASX: SRX) has sacked its chief executive officer, Gilman Wong (pictured), following an investigation into Wong's share trading activity in October 2016.

The board of Sirtex decided to terminate Wong's contract effective immediately last Friday after reviewing a report from legal advisers Watson Mangioni.

The com...

Read More...
SANTA DELIVERS KOGAN A GIFT

SANTA DELIVERS KOGAN A GIFT

KOGAN.COM (ASX: KGN) has exceeded its expectations and reported another strong quarter of trade.

The online retailer today proved to power through the competitive Christmas trading period, outperforming in both November and December.

The Melbourne company ended the quarter with $26.5 million in cash.

The uplift means the company has alr...

Read More...
UNION WILL APPEAL FWA DECISION TO TERMINATE LOY YANG ENTERPRISE BARGAINING AGREEMENT

UNION WILL APPEAL FWA DECISION TO TERMINATE LOY YANG ENTERPRISE BARGAINING AGREEMENT

THE long-running dispute between AGL Energy Limited and its workers at the Loy Yang A Power Station in south eastern Victoria has come to a head after the Fair Work Commission (FWA) agreed to terminate the workers' enterprise bargaining agreement.

The decision comes after 18 months of bitter negotiations that included a withdrawn ind...

Read More...
ANZ OFFLOADS UDC FINANCE BUSINESS FOR $NZ660

ANZ OFFLOADS UDC FINANCE BUSINESS FOR $NZ660

ANZ Bank has agreed to sell UDC, an asset finance business in New Zealand, for $NZ660 million (~$A625 million), marking its second asset sale in as little as two weeks. 

The UDC deal follows the sale last week of ANZ's 20 per cent stake in Shanghai Rural Commercial Bank to COSCO for $1.8 billion.

The Bank says the sale of UDC Fina...

Read More...
TST PARTNERS PURSUES BACKDOOR LISTING AHEAD OF GROWTH DRIVE

TST PARTNERS PURSUES BACKDOOR LISTING AHEAD OF GROWTH DRIVE

THE impending listing of TST Partners Group, a Melbourne based financial and legal services company via a reverse takeover of an unnamed ASX-listed company in early 2017, will mark the first entity on the ASX which offers multi-disciplinary professional services.

TST Partners, backed by Shanghai based private equity firm Jingyi Group, has ent...

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