CROMWELL CALLS FOR FULL DISCLOSURE FROM INVESTA

CROMWELL CALLS FOR FULL DISCLOSURE FROM INVESTA

CROMWELL Property Group (ASX:CRM) has claimed Investa Office Fund (ASX:IOF) has not disclosed material information about its financial position to the ASX.

In the process, the Brisbane-based company has taken a backhanded swipe at its takeover target, saying it may up its bid for the company to up to $4.75 if Investa opens its books.

Cromw...

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FRAUD CAUSES SILVER CHEF PROFIT SLIDE

FRAUD CAUSES SILVER CHEF PROFIT SLIDE

EQUIPMENT financier Silver Chef (ASX:SIV) has seen its half-year profit slide due to fraud.

The Brisbane company reported an underlying profit after tax of $6.9 million to the ASX today, down from $7.6 million in the same period in 2015.

The underlying result was determined after adding back a provision for asset impairment of $2.3 million...

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MEGAPORT QUADRUPLES REVENUE AND INVESTS IN EXPANSION

MEGAPORT QUADRUPLES REVENUE AND INVESTS IN EXPANSION

MEGAPORT (ASX: MP1) increased revenue 345 per cent to $4.46 million in the six months to 31 December 2016, the company reported today in its half year results, but it is still trading at a loss.

The elastic interconnection services provider is in a growth phase and is working with partners such as Digital Realty, Seaborn, and CyrusOne to...

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IN-STORE VETS BOOST GREENCROSS' PROFIT

IN-STORE VETS BOOST GREENCROSS' PROFIT

GREENCROSS Limited (ASX: GXL) shares lifted 5 per cent in trading today after the Brisbane-based company posted a net profit of $21.9 million, beating its previous interim result by 17 per cent. The veterinarian and pet goods giant increased its revenue by 14 per cent to $412.3 million, a result reflected in the company's successful l...

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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...

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MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

TERRY White Group has posted a solid half-year net profit of $1.3 million amid a period of major transformation for the company. Following the merger between its subsidiary Terry White Chemists with Chemmart in October 2016, Terry White Group's nationwide store network has more than doubled in size to include around 500 pharmacies. ...

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BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: Michael Gordon and Philip Hennessy.

The two appointments go some way to address criticism about the previous lack of independent directors on Blue Sky's board. Previously, chairman, John Kain, was the single independent mem...

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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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WHITEHAVEN TRIPLES EARNINGS, PAYS DOWN DEBT AFTER COAL PRICE TURNAROUND

WHITEHAVEN TRIPLES EARNINGS, PAYS DOWN DEBT AFTER COAL PRICE TURNAROUND

THE HIGH coal price has allowed Whitehaven Coal to triple earnings and pay down a large portion of its debt in the first half of FY17.

The company (ASX:WHC) has reported a net profit after tax of $157.5 million for the half year ended 31 December 2016, an increase of $149.7 million on the previous corresponding period.

Sales revenue of $82...

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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 ...

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MICHAEL HILL SHOWS STEADY GROWTH IN TOUGH RETAIL CONDITIONS

MICHAEL HILL SHOWS STEADY GROWTH IN TOUGH RETAIL CONDITIONS

MICHEAL Hill overcame tough trading conditions in the lead up to Christmas to increase net profit after tax 3.4 per cent to $25.8 million in the six months ended 31 December 2016.

It has been a tough few months for retailers in Australia, where at least two well-known fashion groups have entered voluntary administration during the period...

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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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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...

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CROMWELL CALLS FOR COMPETITIVE PROCESS FOR INVESTA SALE

CROMWELL CALLS FOR COMPETITIVE PROCESS FOR INVESTA SALE

CROMWELL Property Group (ASX:CMW) has accused the responsible entity for Investa Office Fund (ASX:IOF) of acting unreasonably, and deliberately frustrating the Brisbane-based company's efforts to place a second bid for the fund.

In late November, Investa Listed Funds Management Limited (ILFML), which is the responsible entity for IOF...

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JACKPOTS BUST TATTS PROFIT

JACKPOTS BUST TATTS PROFIT

AN unprecedented run of jackpot wins has put a damper on Tatts' profit this half, cutting the result by a significant 16.5 per cent compared to 1H16. Despite delivering a positive statutory net profit of $122.8 million, the company couldn't achieve its previous benchmark of $147 million due to an exceptional 24 jackpots, worth mor...

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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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DOMINO'S PLUMMETS AS PRESSURE MOUNTS OVER WAGE INVESTIGATION

DOMINO'S PLUMMETS AS PRESSURE MOUNTS OVER WAGE INVESTIGATION

IT'S good news on the balance sheet but bad news on the ASX for Domino's Pizza Enterprises (ASX: DMP) today, as the company dropped 14.36 per cent to a 12-month low of $53.56 per share despite a 31 per cent rise in first half net profit. The Brisbane headquartered company saw its profit soar to $59.7 million and has issued a lift ...

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NICK SCALI REPORTS BIG PROFIT BOOST

NICK SCALI REPORTS BIG PROFIT BOOST

FURNITURE retailer Nick Scali Limited (ASX:NCK) has recorded $20.5 million profit for the half year to December 31, up 44.7 per cent on the same period the previous year.

Sales revenue is up 15.5 per cent to $118.4 million at the Sydney-based company, while same store sales growth was 10.1 per cent.

Gross margins strengthened to 62 per cen...

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AN EAR TO THE GROUND IN R&D PAYS OFF FOR COCHLEAR

AN EAR TO THE GROUND IN R&D PAYS OFF FOR COCHLEAR

SOLID performance in overseas markets and successful new research and development (R&D) initiatives has pushed Cochlear to strong half year results.

Net profit, and earnings before interest & tax (EBIT) hit totals of $111.4 million and $156.4 million respectively, with both results climbing 19 per cent from HY16.

Revenue scaled up ...

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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 ...

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DOMINO'S HITS BACK AT CLAIMS OF WIDESPREAD WAGE FRAUD

DOMINO'S HITS BACK AT CLAIMS OF WIDESPREAD WAGE FRAUD

DOMINO'S says only 21 of its 714 Australia and New Zealand stores were unprofitable in FY16 as it has hit back at allegations that it squeezes franchisees out of profitability, and underpays its workers.

Domino's (ASX:DMP) says the financial performance of its franchise network is strong, that it sets high ethical standards of it...

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BLUE SKY DOUBLES PROFIT IN HALF YEAR RESULTS

BLUE SKY DOUBLES PROFIT IN HALF YEAR RESULTS

BLUE Sky Alternative Investments managing director Robert Shand says the company is "just scratching the surface" of its potential as the company announced a 130 per cent increase in underlying profit in the six months to 31 December.

The company revealed underlying net profit after tax (NPAT) of $10.1 million in the half year resul...

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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...

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SUNCORP INCREASES HALF YEAR PROFIT, DIVIDEND

SUNCORP INCREASES HALF YEAR PROFIT, DIVIDEND

SUNCORP has reported half year net profit after tax of $537 million for the six months to 31 December, up from $530 million in the previous corresponding period, and an increased interim dividend of $0.33 per share.

Suncorp CEO and Managing Director Michael Cameron (pictured) says that over the past 12 months, the group has been significantly...

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BRAMBLES RESTRUCTURES AFTER PROFIT WARNING

BRAMBLES RESTRUCTURES AFTER PROFIT WARNING

LOGISTICS company Brambles (ASX: BXB) is restructuring, just weeks after issuing a profit warning.

The Sydney company's CEO designate, Graham Chipchase, who will take over from Tom Gorman in March, says the 'flattening of the organizational culture' will allow him to be closer to all the businesses.

Bramble's CHEP business,...

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AGL ACHIEVES $774 MILLION PROFIT TURNAROUND

AGL ACHIEVES $774 MILLION PROFIT TURNAROUND

AGL Energy Limited has reported a statutory profit after tax of $325 million for the six months ended 31 December, compared to a $449 million loss the previous corresponding period, which was largely due to big write downs on the company's shale gas assets.

Underlying profit after tax was $389 million, up 4 per cent, and AGL puts the...

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APOLLO INVESTS IN SHARING ECONOMY PLATFORM AND SYDNEY RV DEALERSHIP

APOLLO INVESTS IN SHARING ECONOMY PLATFORM AND SYDNEY RV DEALERSHIP

LUKE Trouchet saw three options to ensure Apollo Tourism and Leisure (ASX:ATL) wasn't disrupted by an Airbnb-style peer-to-peer campervan sharing app.

The first option was to sit back and watch what happened in the space, but the Apollo managing director says, "we weren't comfortable with that approach".

Trouchet then con...

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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 ...

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CIMIC GROWS PROFIT AND SHARE PRICE IN SOLID YEAR

CIMIC GROWS PROFIT AND SHARE PRICE IN SOLID YEAR

CIMIC Group has reported a $580.3 million net profit after tax for the 12 months to 31 December, up 11.5 per cent on the previous year.

The Sydney-based construction company (ASX:CIM) had a busy year that included buying up shares in UGL, Sedgman and Devine, the implementation of a share buyback program and securing several new major internat...

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REVENUE AND PROFIT FLAT, BUT CAPILANO MAKES GROUND IN CHINA

REVENUE AND PROFIT FLAT, BUT CAPILANO MAKES GROUND IN CHINA

CAPILANO has increased its honey exports to China by 87 per cent in the half year to 31 December, but revenue and profit remains flat.

In the Brisbane-based company's half year results announcement today, it showed statutory net profit before tax decreased 3.8 per cent to $7.47 million, from $7.77 million the previous corresponding period...

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