SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER CHEF SERVES UP STRONG PERFORMANCE

SILVER Chef (ASX: SIV) dished out a net profit after tax of $22.4 million for the financial year, delivering a new CEO with the news.  The result includes a one-off after tax break cost of $1 million arising from the early redemption of $30 million of loan notes on 14 September 2015. The Brisbane-based equipment funding company d...

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MARKET CONDITIONS FLICK THE SWITCH ON ERM

MARKET CONDITIONS FLICK THE SWITCH ON ERM

LIGHTS are dim for ERM Power (ASX: EPW) today as the electricity provider posted a $30 million drop in profit, with its overall FY16 performance plugged to industry volatility. Despite a revenue increase of 19 per cent to $2.7 billion overall, the Brisbane company saw a sharp 46 per cent fall in statutory net profit from $65.9 million in ...

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WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

WATPAC CLINGS TO CONSTRUCTION AS PROFIT SUFFERS

SPENDING 12 months riding a down-turning industry, Watpac Limited (ASX: WTP) has emerged a little bruised, yet not completely out for the count, following its full year result. Posting a statutory loss after tax this morning of $21.4 million, down from an $11.5 million loss in FY15, the Brisbane giant admits its result was once again affe...

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MACAU SALE MASKS WEAKER RESULT FROM CROWN

MACAU SALE MASKS WEAKER RESULT FROM CROWN

THE sale of its Macau joint venture has masked an otherwise weaker performance by James Packer's Crown Resorts (ASX:CWN) which reported a massive spike in earnings to $948.8 million profit in FY16. The result, up 164 per cent from a year ago, was boosted by a net gain of $555.2 million after Crown offloaded its interest in Melco Crown...

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G8 SHARES STILL TENDER AFTER WILD RIDE

G8 SHARES STILL TENDER AFTER WILD RIDE

SHARES in Australia's largest listed childcare centre operator G8 Education (ASX:GEM) edged lower today after briefly recovering from a $400 million rollercoaster ride in the wake of a disappointing profit result yesterday. The stock dipped as much as 6 per cent in morning trade, but it was a far cry from the 30 per cent thumping give...

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VILLA WORLD JOINS PROPERTY PROFIT RUSH

VILLA WORLD JOINS PROPERTY PROFIT RUSH

HOUSING developer Villa World (ASX:VLW) has joined the profit rush across the property sector by posting a record $33.7 million profit for FY16. The result, up 32 per cent from last year, was underscored by an underlying pre-tax profit of $47.2 million which exceeded the company's forecasts and delivered on a strategy that CEO Craig T...

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PERKS BRINGS ACCOUNTING FORWARD

PERKS BRINGS ACCOUNTING FORWARD

ADELAIDE firm Perks has developed a first to market solution for accountants and financial planners.

Xeppo, a cloud-based software, enables financial service providers to manage data relating to client's personal, wealth management and business portfolios on one platform.

The technology launched in 2015 at the LEA world conference in M...

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THREE TIPS TO IMPROVE YOUR CASHFLOW

THREE TIPS TO IMPROVE YOUR CASHFLOW

THE ideal for any business is to send off an invoice with total confidence it will get paid in a timely manner, but that is not always the case. The latest Trade Payments Analysis from Dun & Bradstreet shows businesses are waiting an average of 44.9 days for payment, and near historical lows, but still a long time to wait for any smal...

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AUSTRALIANSUPER HITS $100B WITH GLOBAL INVESTMENTS

AUSTRALIANSUPER HITS $100B WITH GLOBAL INVESTMENTS

RETIREMENT savings in AustralianSuper have hit more than $100 billion for the first time. The industry super fund hit the milestone with a strong growth in returns for more than two million members. AustralianSuper CEO Ian Silk says the fund is exploring global investments as the membership base continues to grow. "We are ver...

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RECKON JOINS FORCES WITH MONEY TRANSFER AGENCY

RECKON JOINS FORCES WITH MONEY TRANSFER AGENCY

ACCOUNTING software provider Reckon (ASX:RKN) has teamed up with one of the world's largest international money transfers businesses. The Sydney-based company has formed a strategic partnership with OzForex trading as OFX (ASX:OFX) to streamline international payments. Reckon's Australian customers that are registered with OFX...

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MANUFACTURER FACES COURT FOR IGNORING COMPO CLAIMS

MANUFACTURER FACES COURT FOR IGNORING COMPO CLAIMS

A MELBOURNE manufacturer will front court for failing to compensate an overseas worker it had unfairly dismissed. The Fair Work Ombudsman has commenced legal proceedings in the Federal Circuit Court against Monochromatic Engineering over an Iranian worker. The service technician was in Australia on a 485 temporary graduate visa and la...

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NEW NATIONAL MINIMUM WAGE KICKS IN FROM TOMORROW

NEW NATIONAL MINIMUM WAGE KICKS IN FROM TOMORROW

AUSTRALIA'S new minimum wage comes into effect tomorrow. The hourly rate for adult workers will increase from $17.29 to $17.70 starting from the first pay period on or after July 1. Fair Work Ombudsman Natalie James says the agency's online pay tools can assist employers to calculate their new wage rates to ensure they meet wo...

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GOLD COAST SECURITY BUSINESS HIT WITH RECORD FINE

GOLD COAST SECURITY BUSINESS HIT WITH RECORD FINE

GOLD COAST business Step Ahead Security Services has been slugged with a record fine of $308,000 in Federal Circuit Court for underpaying employees. Judge Michael Jarrett ordered owner Owen Ivor Jennings to personally back-pay eight security guards a total of $22,779 for work completed over three months in 2014. The Fair Work Ombudsma...

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EWM GROUP SIMPLIFIES PHILANTHROPY

EWM GROUP SIMPLIFIES PHILANTHROPY

BRISBANE family office EWM Group has made it easier for clients to give back with the launch of a specialist philanthropy offering. GivingSimple offers advice on how individuals, families and businesses can support communities, charities and causes of their choice without having to establish their own philanthropy structure. Donors ca...

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CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

CHEAPER FARES IN QLD PUBLIC TRANSPORT CRACKDOWN

COMMUTERS are set to benefit from cheaper fares following a major overhaul in south-east Queensland's public transport system. Under the Palaszczuk Government's Fairer Fares package, single zone travel during peak time will be reduced from $3.35 to $3.20 from next year. Customers will be able to travel further within a zone, w...

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SPORTSCRAFT WEARS PENALTY FOR MISLEADING CONDUCT

SPORTSCRAFT WEARS PENALTY FOR MISLEADING CONDUCT

CLOTHING retailer Sportscraft has paid a $21,600 penalty following an industry-wide investigation by the Australian Competition and Consumer Commission (ACCC). During its inquiry, the ACCC issued infringement notices to Sportscraft citing reasonable grounds for believing that the retailer had been making false or misleading representation...

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STORM DAMAGE CLAIMS HIT $38M

STORM DAMAGE CLAIMS HIT $38M

THE severe storms that pummelled the east coast over the weekend have been declared an insurance catastrophe with claims tipping $38 million. The Insurance Council of Australia (ICA) has recorded more than 11,150 claims from across the east coast of Queensland and NSW over damage related to heavy rainfall. ICA acting CEO Karl Sullivan...

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TAX OFFICE RETIRES E-TAX FOR FASTER SYSTEM

TAX OFFICE RETIRES E-TAX FOR FASTER SYSTEM

ALL taxpayers will have to switch to myTax this year after the Australian Taxation Office shut down its legacy online lodgement tool e-tax. The ATO upgraded the replacement tool over the past year to make it suitable for any Australian lodging their own return regardless of their tax affairs. First introduced in 2014, myTax reduces th...

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PRICE WARS DRIVE RETAIL SPENDING

PRICE WARS DRIVE RETAIL SPENDING

AUSTRALIANS are taking advantage of sales and price wars by spending big on groceries, household goods and clothing. National retail spending increased 3.6 per cent year-on-year in April while food retailing lifted 2.4 per cent, according to the Australian Bureau of Statistics. The Australian Retailers Association (ARA) says the figur...

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SCAMS ON THE RISE WITH AUSSIES DUPED $85M

SCAMS ON THE RISE WITH AUSSIES DUPED $85M

SCAM losses are up compared to a year earlier with $85 million reported lost in 105,200 complaints to the competition watchdog. The Australian Competition and Consumer Commission's Scamwatch recorded 91,600 scam complaints totalling $82 million in 2014. ACCC deputy chair Delia Rickard says the agency has ramped up its campaign war...

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