Sydney Articles

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and quick to take on board new insights.

It's what Koplovitz looks for in candidates for the female focused scale-up incubator she founded, Springboard Enterprises, which has mentored 642 entrepreneurs since the year 2000.

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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...

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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 ...

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HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so too is its driver: education.

But it's not the online education revolution you might think. As industry insiders speculate online education and course delivery will be the way of the future, Melbourne startup training.co...

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EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your business.

The promise of faster, more reliable internet will allow businesses to entirely operate from the cloud, eliminate geographic borders, use flexible working strategies for better productivity, and integrate their commu...

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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...

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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...

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HUGE PROFIT SPIKE FOR HELLOWORLD HEALS MERGER WOUNDS

HUGE PROFIT SPIKE FOR HELLOWORLD HEALS MERGER WOUNDS

HELLOWORLD (ASX: HLO) gripped the share market this morning after its announcement of a whopping 880 per cent increased profit of $12.9 million for the half year.

The travel company's stock spiked almost 5 per cent during early trade on the ASX, following its 1H16 results presentation which revealed a 23 per cent increased revenue at $171...

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PROFIT DROP AT SERVCORP

PROFIT DROP AT SERVCORP

SERVICED office company Servcorp has seen its profit fall, citing New York City, Singapore and Saudi Arabia as the problems.

The company (ASX:SRV) took revenues of $168 million, up 2.3 per cent, but its profit after tax dropped 3.6 per cent to $18 million.

Servcorp reported floor closure costs took a $3.3 million toll on its business, much...

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BLACKMORES: AUSTRALIA SLOWS, CHINA JUMPS

BLACKMORES: AUSTRALIA SLOWS, CHINA JUMPS

BLACKMORES suffered a 42 per cent decline in first half profit, the health food manufacturer announced today.

The company reported first half sales of $322 million, down 6 per cent from the same period last year. Its Australian business tanked 31 per cent on the benchmark of sales, taking in $158 million.

While relatively new ground for th...

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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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INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

AN influx of international retail brands into Australia over the next five years are expected to push up demand for floor space, says CBRE head of research for Australia, Stephen McNabb.

The retail commercial property sector is attracting keen interest, despite a modest rental growth of 1-2 per cent forecast in the year ahead, according to CB...

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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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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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WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent premium over the ASX200, a new index has found. The Employee Ownership Australian Index (EOAI) reveals that companies which are at least 30 per cent owned by employees tend to have better environmental, social and governance stand...

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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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SURREY HILLS HOTEL SELLS FOR $26.1 MILLION

SURREY HILLS HOTEL SELLS FOR $26.1 MILLION

LANTERN Hotels (ASX:LTN) has divested the last of its hotels with the sale of Surrey Hills Landmark Crown Hotel for $26.1 million to Peak Investments.

The transaction represented the final pub sale in the group's repositioning and divestment strategy. It was sold at a 51 per cent premium to the June 2016 book value of the hotel.

The sa...

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RISE OF THE MACHINES HAS WORKERS SWEATING

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown.

Airtasker's 2017 Future of Work study revealed that around 16 per cent of Australians believe their current role will be made redundant by a machine within the next five years, with 71 per cent of the population believing ...

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LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector's priorities says Australian Small Business and Family Enterprise ombudsman (ASBFEO) Kate Carnell.

Carnell wants action on issues such as business tax cuts, competition reform, unfair contracts, government procurement ...

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SIGALLA GETS 10 YEARS JAIL FOR STEALING $8.6 MILLION AS DIRECTOR OF TZ LIMITED

SIGALLA GETS 10 YEARS JAIL FOR STEALING $8.6 MILLION AS DIRECTOR OF TZ LIMITED

ANDREW John Sigalla will spend at least six years in jail for stealing $8.6 million from TZ Limited (ASX:TZL) while he was a director of the company.

Sigalla used the money to pay back debts with bookmaker Tom Waterhouse and to make mortgage payments on behalf of one of his personal companies.

The businessman was found guilty of 24 counts ...

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TEST DRIVE A POST GRAD AT BOND

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving' will help you figure that out quick smart.

Bond Business School is offering a Postgraduate Test Drive, for those who are curious, but not yet committed.

A test drive like none other, Bond Business School offers complimen...

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STARTUP HUB PLANNED FOR SYDNEY CBD

STARTUP HUB PLANNED FOR SYDNEY CBD

A STARTUP hub will be established in Sydney with the aim of growing the city as an international tech incubator.

Sydney already ranks in the top three startup ecosystems in Asia, and the sector is worth $70 billion to the state economy, but the city's start-up density is only 18 per cent of that found in Silicon Valley.

The hub ...

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WAREHOUSE SALE SETS MASCOT RECORD

WAREHOUSE SALE SETS MASCOT RECORD

A MASCOT warehouse has sold for $2.9 million, a new record for the Sydney suburb.

Located at 295 King St, in a B5 business development zone, the property comprises a 562sqm free standing building on a 740sqm site. It was sold to a private Investor following more than fifty enquiries during the auction process and competitive bidding on t...

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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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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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DREAMWORLD REVENUE DOWN 50 PER CENT

DREAMWORLD REVENUE DOWN 50 PER CENT

VISITORS are gradually returning to Dreamworld following the deaths of four people at the theme park in October last year. During January, Ardent Leisure's (ASX:AAD) theme parks division recorded unaudited revenues of $6.97 million, down 50.4 per cent on revenues of $14.05 million in the previous corresponding period.

"This ...

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ALIBABA'S AUSTRALIAN 'GOLD MINE'

ALIBABA'S AUSTRALIAN 'GOLD MINE'

CHINA-based ecommerce giant Alibaba has launched its Australian and New Zealand headquarters in Melbourne.

The online marketplace, similar to eBay but esteemed as Amazon, takes in more than 12.7 billion orders a year from 430 million users.

Jack Ma, Alibaba group founder and executive chairman, was in Melbourne at the weekend to launch the...

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