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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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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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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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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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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RECORD YEAR FOR FREELANCER

RECORD YEAR FOR FREELANCER

FREELANCER has boasted of its low marketing spend and profitability as it announced a record year of cash receipts today.

For the full financial and calendar year in 2016, the Sydney-based company (ASX:FLN) booked cash receipts of $51.9 million, up 35 per cent year on year and revenue will be higher than cash receipts due to accrual accountin...

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SERVCORP MOVES TO RECTIFY MANAGEMENT ISSUES IN THE USA AFTER TOUGH QUARTER

SERVCORP MOVES TO RECTIFY MANAGEMENT ISSUES IN THE USA AFTER TOUGH QUARTER

SERVCORP (ASX: SRV) is trading down almost 20 per cent this afternoon after it announced it would miss its profit guidance, despite the company increasing its dividend.

The serviced office provider expects to report net profit before tax of $47 million, down from previous guidance of $56 million.

While performance in the first quarter was ...

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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...

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BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The company is trading down 14.86 per cent at 11.32am (AEDT) at $10.45 per share in response to this guidance announcement this morning.

The company is expecting first-half constant-currency sales revenue growth of around 5 per cent a...

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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...

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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...

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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...

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ASIC LAYS CHARGES AGAINST FORMER LEIGHTON HOLDINGS EXECUTIVE PETER GREGG

ASIC LAYS CHARGES AGAINST FORMER LEIGHTON HOLDINGS EXECUTIVE PETER GREGG

PETER GREGG has been charged with violating the Corporations Act by ASIC in relation to his time as chief financial officer of Leighton Holdings (now CIMIC Group).

Gregg, who is currently managing director of ASX-listed Primary Health Care (ASX: PRY), denies the accusations, the company said today in a statement.

The Primary Health Care bo...

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$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 ...

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HILLS HOIST MOVING HOUSE IN THE WAKE OF MASTERS COLLAPSE

HILLS HOIST MOVING HOUSE IN THE WAKE OF MASTERS COLLAPSE

HILLS Limited (ASX: HIL), creator of the classic Aussie Hills Hoist clothesline, has decided to hang up its hat on homewares, deeming the sector no longer financially viable to pursue. AMES Australasia, the company responsible for brands including Cyclone, Nylex and Northcote Pottery, has now taken over the Hills home living business and ...

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ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

A MAJOR pending partnership between national airlines is under fire, as the Australian Competition and Consumer Commission (ACCC) proposes to deny its authorisation. The partnership in question, between Virgin Australia Airlines, Virgin Australia Regional Airlines (VARA) and Alliance Aviation Services (ASX: AQZ), proposes to give the airl...

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ARDENT LEISURE SELLS D'ALBORA MARINAS

ARDENT LEISURE SELLS D'ALBORA MARINAS

ARDENT Leisure (ASX:AAD) has sold its d'Albora Marinas portfolio for $126 million, an 11 per cent premium over the asset's book value of $113.5 million.

A joint venture between Sydney-based Balmain Corporation, and Goldman Sachs, was formed to buy the seven marinas, which are in Sydney, Melbourne and Newcastle.

Ardent Leisur...

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ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-based company (ASX: ORG) to focus on its energy markets business and a simplified integrated gas business.

The new business, NewCo, will include Origin's interests in a number of gas and oil projects, including:
Otw...

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BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

LUXURY vehicle brand BMW has agreed to pay its dues following a five-year string of lending failures which resulted in hardship for consumers. ASIC accepted an enforceable undertaking from BMW Finance, which will see the car dealer implement Australia's largest consumer credit remediation program to the tune of $77 million. The re...

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