iSignthis shares surge higher as monthly transactions pass $1.1 billion

iSignthis shares surge higher as monthly transactions pass $1.1 billion

Update: After this article was published shares rose further the following day, only to drop significantly after that down to $1.06 each (12 September 2019). Payment identity verifier iSignthis (ASX: ISX) has been one of the fastest risers on the ASX over the past 12 months, with its shares rising from $0.17 each in September 2018 to $1.3...

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Bonitas claims EY report "backfired" against Rural Funds

Bonitas claims EY report "backfired" against Rural Funds

The war of words between short sellers Bonitas Research and Rural Funds Group (ASX: RFF) continues today after the former finally responded to an Ernst & Young (EY) report commissioned by RFF. Instead of responding individually to every one of Bonitas' claims against the company, RFF opted to engage EY to produce a report into the...

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Class action alleges Westpac's super subsidiaries short-changed members

Class action alleges Westpac's super subsidiaries short-changed members

Westpac (ASX: WBC) subsidiaries BT Funds Management and Westpac Life Insurance Services have been hit with a class action from law firm Slater and Gordon (ASX: SGH). The class action alleges that superannuation members were short-changed by the bank's super funds. Slater and Gordon says members who invested in the BT Super for Lif...

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ASX drills Smiles Inclusive on shock $19 million loss announcement

ASX drills Smiles Inclusive on shock $19 million loss announcement

Late on Friday 30th August Smiles Inclusive (ASX: SIL) announced its disastrous FY19 results. Of particular note was its loss of $18.9 million during the financial year; a result that took the market by surprise. Now, the ASX has questioned Smiles over whether this significant loss was something the company should have alerted shareho...

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Online sales push Myer back into the black

Online sales push Myer back into the black

Department store Myer's (ASX: MYR) attempts to play catch-up with the now firmly established world of e-commerce appear to have finally paid off in FY19. The group's online sales increased by 25.6 per cent to $262.3 million in the financial year, following the relaunch of the Myer.com.au online shopfront in September 2018. Thi...

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Headwinds abound as TPG stumbles into 2020

Headwinds abound as TPG stumbles into 2020

The 2019 financial year was unpleasant for telco TPG Telecom (ASX: TPM) to say the least. First, the company was forced to abandon its planned 5G mobile network, what was to be Australia's fourth major mobile network, following the federal government's ban of Chinese-made Huawei 5G technology. Following this setback, the compa...

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The Agency hungry for more acquisitions after Top Level takeover

The Agency hungry for more acquisitions after Top Level takeover

Real estate group The Agency (ASX: AU1) plans to keep expanding despite its latest acquisition raising some financial red flags. The group has announced a capital raise of approximately $4.5 million, which is just higher than the $4.2 million loss it posted in FY19.   Of the amount raised $1.5 million will go toward potentia...

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The Agency defies real estate gloom with revenue boost

The Agency defies real estate gloom with revenue boost

If the results of real estate giant McGrath and industry e-rag Domain are anything to go by, the sector is going through some major turbulence. But that certainly hasn't impacted The Agency (ASX: AU1) which defied the odds in FY19. In spite of the doom and gloom real estate sector that resulted in McGrath posting a $15.6 million l...

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Future expansion on the cards for a fit Healthia

Future expansion on the cards for a fit Healthia

For growing allied health company Healthia (ASX: HLA) FY19 was a year of establishing a solid foundation. The financial year was Healthia's first as an ASX listed entity, and the team has knocked its own expectations out of the park. Underlying revenue exceeded its prospectus forecast by 6.6 per cent, EBITDA was ahead of its prosp...

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Brand write-downs and restructuring drive $149m loss for Retail Food Group

Brand write-downs and restructuring drive $149m loss for Retail Food Group

Store closures and a heavy FY19 loss capture the tone of a challenging year for Retail Food Group (ASX: RFG), a franchisor that is finetuning its focus against a backdrop of significant asset impairments and restructuring costs. Brands are everything in the food business, particularly if brand IP is a key part of your model like RFG ...

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Australian cannabis companies bring in revenue but remain in the red

Australian cannabis companies bring in revenue but remain in the red

Three of Australia's top cannabis companies have released their FY19 results today, and the story is similar across the board. Revenue and income are being generated at a stronger level than in the previous financial year, but all three remain unprofitable. AusCann Group (ASX: AC8) saw its revenues rise by 267 per cent to $1.5 mil...

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Weak property market takes its toll on Yellow Brick Road

Weak property market takes its toll on Yellow Brick Road

Wealth managers Yellow Brick Road have posted a FY19 net loss after tax of $37.39 million, with the company blaming negative property market forces for the result. The company says that this loss can be attributed to lending volumes being 19 per cent lower than the 2019 year, largely due to market forces. The group was hit by a non-ca...

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Longtable pulls off Maggie Beer turnaround strategy

Longtable pulls off Maggie Beer turnaround strategy

Food company Longtable (ASX: LON) has performed a successful turnaround of boutique brand Maggie Beer Products after acquiring remaining shares in the group for $10 million in April. The Maggie Beer brand generated a turnaround of $3.5 million to deliver an EBITDA of $2 million, with revenue up 8.5 per cent. Longtable h...

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Village Roadshow divests promo business as theme park profits surge

Village Roadshow divests promo business as theme park profits surge

Entertainment group Village Roadshow (ASX: VRL) has sold promotional solutions agency Edge Loyalty Systems to California-headquartered Blackhawk Network for $32.3 million.  Founded in 2006 and acquired by Village Roadshow in 2012, Edge Loyalty Systems promotes brands for major Australian and international businesses including&nb...

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Global conditions take Apollo profits down a gear

Global conditions take Apollo profits down a gear

A subdued global RV sales market has seen Apollo Tourism & Leisure's (ASX: ATL) underlying profits slide by 24.6 per cent to $14.7 million. Despite the soft profit Apollo reported record revenue of $365.2 million, up 2.7 per cent, and its global rental days hit a record of 886,000. Globally retail sales were subdued with macro...

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Afterpay partners with VISA as US sales almost touch $1 billion mark

Afterpay partners with VISA as US sales almost touch $1 billion mark

The company most synonymous with the growing buy-now pay-later (BNPL) phenomenon has posted an 86 per cent rise in total income for FY19, but the result has come at a cost as Afterpay Touch Group (ASX: APT) establishes its overseas ventures. While Afterpay's income almost doubled to reach $264 million, investments in the US and UK led...

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Virgin Australia profits crash land amid "disappointing" results

Virgin Australia profits crash land amid "disappointing" results

Adverse market conditions in the second half of FY19, new route investments, and increased fuel costs have resulted in Virgin Australia (ASX: VAH) posting an underlying loss of $71.2 million. However, the statutory loss after tax of $315.4 million for FY19 is a significant improvement from FY18's $653.3 million loss, up 337.9 per cent...

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Rebrand appears promising after tough year for Bellamy's

Rebrand appears promising after tough year for Bellamy's

While FY19 was a difficult year for organic baby food producer Bellamy's Organic (ASX: BAL) things appear to be looking up. The company posted a statutory NPAT of $21.7 million for FY19, down nearly 50 per cent from FY18's strong $42.8 million profit. Revenue was also down by 19 per cent to $266.2 million, and EBITDA was down ...

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Why leading blue-chip brands modernised their finance function - and why you should too

Why leading blue-chip brands modernised their finance function - and why you should too

Manual updates, disorganised data, and systems shutting down. These scenarios were some tipping-points that recently led CFOs from four Australian blue-chip brands to modernise their organisation's finance function. Companies with similar number-crunching issues need to modernise their finance function, or risk being left behind, acco...

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Rough start for Cann Global's return to the ASX

Rough start for Cann Global's return to the ASX

The first few days have been shaky following medicinal cannabis group Cann Global's (ASX: CGB) long-awaited re-listing on the Australian Stock Exchange. The company returned to the ASX with a share price of 0.03 per share on Friday 23 August. Since then, the price gradually slid downhill by a third to $0.023 at the close of trade...

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