TECHNOLOGYONE OUTSTRIPS PROFIT EXPECTATIONS AS R&D SKYROCKETS

TECHNOLOGYONE OUTSTRIPS PROFIT EXPECTATIONS AS R&D SKYROCKETS

TECHNOLOGYONE (ASX: TNE) has surpassed market expectations to achieve a half-year profit after tax of $8.1 million, up 10 per cent on its previous result.

The Brisbane-based enterprise software company also posted an increased revenue of $113.9 million for the period, up 13 per cent on HY16.

Aside from brass tacks profit, TechnologyOne has...

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CLASS ACTION FILED AGAINST SURFSTITCH AFTER ANOTHER EARNINGS WIPEOUT

CLASS ACTION FILED AGAINST SURFSTITCH AFTER ANOTHER EARNINGS WIPEOUT

AS ONLINE retailer SurfStitch (ASX: SRF) battles for survival following another negative earnings forecast, a $100 million class action has been filed in the Supreme Court of Queensland on behalf of aggrieved shareholders.

On Monday, the Gold Coast-based company announced its losses will double to as much as $11.5 million this year, sending i...

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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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GOLD COAST AIRPORT RECORDS STRONGEST PERIOD IN HISTORY

GOLD COAST AIRPORT RECORDS STRONGEST PERIOD IN HISTORY

The Gold Coast Airport recorded its strongest April in history for passenger numbers, supported by a growing number of international passengers.

The timing of Easter and school holidays added to the boost, which was also felt across the whole network of Queensland Airports Limited (QAL).  QAL experienced a 7 per cent growth (yea...

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MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

IT'S BEEN 10 years in the planning and had at least 10 different architects and has involved the acquisition of multiple properties, and now the redevelopment of Melbourne's iconic Rialto tower precinct is almost complete.

The $200 million redevelopment has breathed new life into the CBD and the Rialto precinct covers more than 8...

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ORGANIC FAST FOOD CHAIN TO RAISE $15M IN IPO

ORGANIC FAST FOOD CHAIN TO RAISE $15M IN IPO

THE world's first organically certified fast food chain, Oliver's Real Food, has today opened its IPO.

The restaurant chain is hoping to raise $15 million in its first round of fund raising by issuing 50 million new shares at $0.30 per share.

Oliver's, which prides itself on being a healthy and organic alternative to traditiona...

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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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ONLINE SCAMS TAKE $3.8 MILLION TOLL ON AUSSIE BUSINESSES

ONLINE SCAMS TAKE $3.8 MILLION TOLL ON AUSSIE BUSINESSES

AUSTRALIA's competition watchdog has revealed today that more than 6,000 businesses were attacked by online scams in 2016, as a result losing a combined $3.8 million.

In its Targeting Scams report, The Australian Competition and Consumer Commission (ACCC) found that losses incurred because of online scams increased by almost 31 per cent i...

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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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BIDDING WAR FOR FAIRFAX EMERGES WITH NEW AND HIGHER $3B BID FROM US MEDIA INVESTOR

BIDDING WAR FOR FAIRFAX EMERGES WITH NEW AND HIGHER $3B BID FROM US MEDIA INVESTOR

FAIRFAX Media has received a rival bid from global private equity firm Hellman and Friedman worth $3 billion, and has announced that it will allow due diligence to be carried out as a bidding war for the company's assets emerges.

The Hellman and Friedman bid valued Fairfax at between $1.225 and $1.25 per share which is slightly higher tha...

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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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THE ADELAIDE COMPANY TAKING AIR CONDITIONING SOFTWARE TO THE WORLD

THE ADELAIDE COMPANY TAKING AIR CONDITIONING SOFTWARE TO THE WORLD

ADELAIDE air-conditioning software company Delft Red Simulation Technology has seen international demand grow over the past year, comprising nearly 10 per cent of the company's sales.

Delft Red's Plandroid air-conditioning installation planning software has grown rapidly since 2010 with its simple software which allows users to drag a...

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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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BOND UNIVERSITY RECRUITS BUSINESS BIG HITTERS TO ITS NEW ENTREPRENEUR DEVELOPMENT PROGRAM

BOND UNIVERSITY RECRUITS BUSINESS BIG HITTERS TO ITS NEW ENTREPRENEUR DEVELOPMENT PROGRAM

BOND University has secured the services of four of Australia's most successful business identities to oversee its new program called Transformer, which is aimed at developing the new wave of young entrepreneurs.

Transformer is the first of its kind in Australia to help students undertake "big picture thinking" and they'll b...

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TPG UPS THE ANTE ON FAIRFAX TAKEOVER BID

TPG UPS THE ANTE ON FAIRFAX TAKEOVER BID

A CONSORTIUM led by telco TPG (ASX: TPM) has revised its proposal to buy out Fairfax Media (ASX: FXJ) for a price of $1.20 per share, which values the deal at $2.7 billion.

This comes one week after TPG's consortium first announced its unsolicited takeover bid to the market at an initial price of $0.95 per share.

The consortium&...

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SLATER AND GORDON TO TAKE A SWING AT QUINDELL SELLERS FOR FRAUD

SLATER AND GORDON TO TAKE A SWING AT QUINDELL SELLERS FOR FRAUD

SLATER and Gordon's UK subsidiary has confirmed it will be taking action against Watchstone Group, the company responsible for selling Slater and Gordon (ASX: SGH) its professional services division Quindell in 2015. The embattled firm intends to sue Watchstone for fraud in the High Court of England and Wales for approximately £...

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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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CROWN EXITS MACAU TO PAY DOWN DEBTS

CROWN EXITS MACAU TO PAY DOWN DEBTS

IT HAS been just over five months since Crown Resorts (ASX: CWN) offloaded a significant stake in Melco Resorts & Entertainment in Macau, and now James Packer's casino giant has announced it will be selling off its remaining interest in the company.

Crown Resorts subsidiary Crown Asia Investments (CAI) has entered into a repurchase ag...

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