Blackmores delivers record sales but share price plummets

Blackmores delivers record sales but share price plummets

Record sales have generated record revenue of $319 million for health supplement company Blackmores (ASX: BKL) but CEO Richard Henfrey has told shareholders to not get too comfortable. Shares in Blackmores are down nearly 30 per cent at 10.42am AEDT after the company said growth in China has softened. "Achieving record sales is a...

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IOOF profit up 200 per cent despite Royal Commission criticism

IOOF profit up 200 per cent despite Royal Commission criticism

Despite being singled out by the final report from the Royal Commission into the banking and finance sector IOOF (ASX: IFL) has had a strong start to FY19. The financial advice and investment manager saw its statutory NPAT rise by 200 per cent in the half to $135.4 million. Underlying NPAT was also up slightly to $100.1 million. The 2...

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LandMark White hacked data sat on dark web for 10 days

LandMark White hacked data sat on dark web for 10 days

Property valuer LandMark White (ASX: LMW) has resumed trading this morning after investigating a serious data breach that occurred some time in December 2018. The company entered into a trading halt on Friday after major banks suspended important contracts. The Commonwealth Bank, National Australia Bank and ANZ have all suspended cont...

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Baby Bunting results improve on the back of retail enhancements

Baby Bunting results improve on the back of retail enhancements

New stores and the introduction of a buy-now pay-later finance option saw Baby Bunting's (ASX: BBN) first half results improve. Revenue was up 17.2 per cent to $177.688 million in the first half, whilst profit rose 27.8 per cent to $5.216 million. The company says it has rebounded from significant competition disruption, price def...

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LandMark White in trading halt following fallout from data breach

LandMark White in trading halt following fallout from data breach

Property valuer LandMark White (ASX: LMW) has gone into a trading halt pending a statement regarding the fallout from a data breach that occurred on 4 February 2019. The company said at the time that a data set containing property valuation and some personal contact information was disclosed because of a vulnerability in one of LMW's ...

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Treasury Wine Estates records strongest net sales revenue growth in its history

Treasury Wine Estates records strongest net sales revenue growth in its history

Strong performance in China has pushed Treasury Wine Estates' (ASX: TWE) results to new levels. The company delivered its strongest organic net sales revenue ('NSR') growth rate in its history during the first half of FY19. NSR was up 16 per cent to $1,507.7 million, whilst its NPAT was up 17 per cent to $219.2 million. ...

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A 97 per cent profit drop caps off disaster year for AMP

A 97 per cent profit drop caps off disaster year for AMP

Of all the companies hit hard by the findings of the banking and finance Royal Commission AMP was one of the worst hurt. However, amidst the chaos of renumerating customers for fees charged without rendering services, the company has still turned a profit. The comparably meagre $28 million profit is far shy of the $848 million the com...

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Suncorp results battered by natural hazards costs

Suncorp results battered by natural hazards costs

The cost of natural disasters has proven to be more than Suncorp was prepared for during the first half, with hazards accounting for a dive in the group's profit and earnings. At the end of 2018 Suncorp's reported NPAT was down 44.7 per cent to $250 million. This downturn, from $452 million in 1H18, can be attributed to a numb...

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Virgin Australia records its strongest H1 earnings in 11 years

Virgin Australia records its strongest H1 earnings in 11 years

Virgin Australia (ASX: VAH) saw its underlying earnings hit $3,071 million during the first half of FY19, an all-time record for the airline, and the strongest result since the 2008 financial year. The company says this result was driven by strong performance in the company's domestic airline business, supported by a stable market, an...

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Carsales suffers 82% drop in profit thanks to $47m impairment charge

Carsales suffers 82% drop in profit thanks to $47m impairment charge

A $47.8 million impairment charge has seen Carsales.com Ltd's (ASX: CAR) NPAT slide by 82 per cent to $11.1 million in H1 FY19. Tightening regulations by ASIC about car financing appear to be the major cause of Carsales' woes representing yet another casualty of the findings of the banking and finance royal commission. The imp...

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China's economic slowdown poses a significant threat to Australia

China's economic slowdown poses a significant threat to Australia

China's sudden explosion as an economic powerhouse in the APAC region was once the source of global anxiety, but in 2019 it's the opposite that could cause some problems at home. Industry research company IBISWorld has warned that the decline in growth of China's GDP could have far reaching consequences for Australia's eco...

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Villa World posts slightly improved profit in challenging market conditions

Villa World posts slightly improved profit in challenging market conditions

Despite a tough property market Villa World (ASX: VLW) has recorded a slightly improved profit at the end of the first half of FY19. The residential house and land developer announced a $17.6 million after tax half year profit, up from $17.3 million at the end of H1 FY18. This was despite sales being down significantly from the same t...

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Megaport 1H revenue up on the back of continued expansion

Megaport 1H revenue up on the back of continued expansion

Australian data centre business Megaport (ASX: MP1) continued its gradual growth at home and overseas during the first half resulting in a healthy amount of revenue. The company's first half revenue was $15.2 million, an increase of 72 per cent from the same period ending 31 December 2017. Total monthly recurring revenue was also ...

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Blue Sky in the red in H1

Blue Sky in the red in H1

Restructuring costs, valuation cuts and reimbursements have taken their toll on Blue Sky Alternative Investments' (ASX: BLA) bottom line, with the embattled fund manager anticipating a loss of between $28-32 million for the first half of FY18. And if it weren't for a $50 million convertible note facility from its saviour part...

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Volt Bank charges up digital deal with Spitfire

Volt Bank charges up digital deal with Spitfire

Within weeks of receiving a major investment from Collection House (ASX: CLH), Australia's newest bank has linked up with Sydney-based Spitfire Corporation to give customers a digital platform for wealth management. Volt Bank, Australia's first new startup to receive a retail bank licence since 1981, will harness Spitfire's te...

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Pharma group targets China with $10m acquisition of e-commerce players

Pharma group targets China with $10m acquisition of e-commerce players

Star Combo is positioning itself as a major exporter of Australian pharmaceutical products with its $10 million spending spree on China focused e-commerce businesses. The Sydney-based manufacturer and distributor of health, pharmaceutical and beauty products has acquired the businesses of Koala Mall and Austoyou Group. Both businesses...

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Menswear retailer Ed Harry to shut down for good

Menswear retailer Ed Harry to shut down for good

Long-standing menswear retailer Ed Harry has been forced to close down for good after a sales campaign for the company failed to entice buyers. The retailer, which fell into administration on 15 January 2019, is the latest casualty of the new world of retail. The closure of Ed Harry comes just days after Napoleon Perdis announced it w...

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REA Group profit dives 98 per cent after $173m impairment

REA Group profit dives 98 per cent after $173m impairment

Were it not for a $173.2 million impairment charge REA Group was shooting for success during the first half of FY19. The company's NPAT closed at $176.6 million in HY2019, up 20 per cent on the same time last year but dived 98 per cent to $2.5 million once all factors were taken into account. The impairment charge is a disappointi...

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Dexus reports a productive half year but profit slips

Dexus reports a productive half year but profit slips

Real estate management group Dexus (ASX: DXS) has seen its profit slip by 27.2 per cent despite its "productive" half year. During the first half of FY19 Dexus' NPAT was down 27.2 per cent to $726.4 million because of net revaluation gains of investment properties being lower than those recognised in the previous correspondi...

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NAB leaders respond to Royal Commission's fierce criticism

NAB leaders respond to Royal Commission's fierce criticism

"We are the only bank to publicly release our assessment, which clearly outlines 26 areas where we are focusing on to be a better bank," says NAB chair Ken Henry. National Australia Bank (ASX: NAB) shares are up this morning despite a stinging evaluation of its executives in yesterday's final report of the Royal Commission, ...

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