'DIGITAL MONSTER' AMAZON CONFIRMS AUSTRALIAN EXPANSION

'DIGITAL MONSTER' AMAZON CONFIRMS AUSTRALIAN EXPANSION

ONLINE retail giant Amazon has finally confirmed the company is launching in Australia to take a major slice of the country's $300 billion sector, as Morgan Stanley warns local retailers they could "get the life squeezed out of them".

The rumour has been circulating for years and, in a brief statement, the company confirmed Amaz...

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CAR NEXT DOOR LAUNCHES IN BRISBANE AHEAD OF PLANS TO ROLL OUT ACROSS AUSTRALIA

CAR NEXT DOOR LAUNCHES IN BRISBANE AHEAD OF PLANS TO ROLL OUT ACROSS AUSTRALIA

PEER-TO-PEER car sharing startup Car Next Door has launched its Brisbane operation as part of its expansion plans into Australia's major cities.

CarNextDoor.com.au is an online platform that allows car owners to effectively rent their cars out to users as a way of making money on the idle capacity of their vehicles to people who need them...

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OROTON CEO RESIGNS FOLLOWING PROFIT DROP

OROTON CEO RESIGNS FOLLOWING PROFIT DROP

MARK Newman, CEO of OrotonGroup (ASX: ORL), has resigned after the company recorded a 52 percent drop in first half profits. Newman has served as CEO and managing director of the fashion retailer for the last four years and his sudden departure was announced after the company revealed its half year net profit had slumped to $1.8 million. ...

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WESTPAC BANK REVEALS ITS TOP 200 BUSINESSES OF TOMORROW

WESTPAC BANK REVEALS ITS TOP 200 BUSINESSES OF TOMORROW

IN CELEBRATION of Westpac's 200th anniversary, the bank has compiled a list of 200 Australian businesses which it predicts will unlock Australia's 'economic potential'. The 200 acknowledged businesses gathered at a summit in Sydney where they networked and collaborated alongside other Australian businesses. Westpac als...

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WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's radar over the past six months. Recent legislative changes have allowed for importation of the drug and patient-specific sales, as government red tape and other legal barriers are being systematically lifted. The Narcotic Dru...

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FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordon, in regards to the Melbourne-based firm's alleged misconduct which led to its billion-dollar fall from grace. ACA has become the second firm to lay the foundations for a class action against Slater and Gordon, after Maur...

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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...

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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...

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CRE8TEK SIGNS AGREEMENT TO TEST FLAMINGO ARTIFICIAL INTELLIGENCE TECHNOLOGY

CRE8TEK SIGNS AGREEMENT TO TEST FLAMINGO ARTIFICIAL INTELLIGENCE TECHNOLOGY

CRE8TEK (ASX:CR8) subsidiary Flamingo Customer Experience has signed an agreement for a paid trial of its artificial intelligence technology with ASX-listed Australian marketplace lender, DirectMoney Limited (ASX: DM1).

This paid trial will be conducted over a six-month period, targeted to commence in the second quarter of 2017.

The Flamin...

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DREAMWORLD RECOVERY CONTINUES

DREAMWORLD RECOVERY CONTINUES

REVENUES at Dreamworld continue to improve following the tragedy at the theme park in October last year, when four people died on the Thunder River Rapids Ride.

The theme parks division of Sydney-based Ardent Leisure (ASX:AAD) recorded unaudited revenue of $4.4 million during February 2017, down 35 per cent on the previous corresponding ...

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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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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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