Nick Scali blames difficult trading conditions for slashed profit guidance

Nick Scali blames difficult trading conditions for slashed profit guidance

Australian retail trading conditions have been named as the reason behind Nick Scali's (ASX: NCK) latest profit downgrade. Citing "difficult trading conditions", listed furniture retailer Nick Scali has downgraded its 1H20 NPAT from $25 million to $17-$19 million. The group says tough trading conditions experienced in Au...

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IMF Bentham to buy European litigation funder for $141m

IMF Bentham to buy European litigation funder for $141m

An Australian group that has funded class actions against the likes of National Australia Bank (ASX: NAB), Sirtex and Murray Goulburn (ASX: MGC) is about to spread its wings. IMF Bentham (ASX: IMF) has agreed to acquire Netherlands-headquartered Omni Bridgeway for 87.5 million euros ($141 million) as part of a five-year plan to diver...

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Retail Food Group upsizes capital raise

Retail Food Group upsizes capital raise

Embattled food franchisor behind brands like Donut King, Michel's Patisserie, and Gloria Jean's, Retail Food Group (ASX: RFG) has boosted its capital raise to recapitalise the company. Initially, RFG intended to raise $150 million from a fully underwritten placement in order to repay debt, plus an extra $10 million from a share pu...

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New manager talks delayed at Blue Sky Alternatives Access Fund

New manager talks delayed at Blue Sky Alternatives Access Fund

Attempts by the Blue Sky Alternatives Access Fund (ASX: BAF) to extricate itself from current management have hit a stumbling block as negotiations drag on with receivers KordaMentha and US vulture fund Oaktree. In a letter to shareholders ahead of the upcoming annual general meeting scheduled for 13 November, BAF chair Michael Cotti...

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Nicholas Bolton bolstered in battle for Keybridge

Nicholas Bolton bolstered in battle for Keybridge

The company has been in a tug-of-war of late, but now it is clear that Australian Style Group's Nicholas Bolton is setting the tune of Keybridge's official communications.  The fight for control of Perth-based Keybridge Capital (ASX: KBC) has tilted in favour of Nicholas Bolton's Australian Style Group, shortly ...

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The rise and fall of Blue Sky: A timeline from ASX powerhouse to pariah

The rise and fall of Blue Sky: A timeline from ASX powerhouse to pariah

Fund manager Blue Sky Alternative Investments (ASX: BLA) ended its 7.5-year run on the ASX after going into receivership. At its peak the Brisbane-based investment firm was worth almost $1.2 billion, with capital raisings easily fulfilled and an aggressive investment strategy fuelling global interest.  During what appeared t...

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HomeCo $325m IPO to ramp up shopping centre footprint

HomeCo $325m IPO to ramp up shopping centre footprint

The group that snapped up Woolworths' (ASX: WOW) Masters stores three years ago for $800 million is now an ASX-listed company with plans to develop nine more shopping centres across Victoria, Queensland, New South Wales and Western Australia. Sydney-based HomeCo (ASX: HMC) was expected to start trading at 1pm AEDT today with an indica...

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MedAdvisor scores three-year Chemist Warehouse contract

MedAdvisor scores three-year Chemist Warehouse contract

Listed med-tech company MedAdvisor (ASX: MDR) has signed an agreement with one of Australia's leading pharmacies for three years. Chemist Warehouse will partner with MedAdvisor for a period of three years and will see the pharmacy giant take advantage of MedAdvisor's PlusOne pharmacy software. The two have already been working...

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Bentley backs Wilson's takeover bid for Keybridge

Bentley backs Wilson's takeover bid for Keybridge

Within months of withdrawing a bid to acquire Perth-based Keybridge Capital (ASX: KBC), Wilson Asset Management is at it again at an almost 9 per cent discount to its previous offer. The Sydney-based investment group led by Geoff Wilson (pictured) has put its hat in the ring to buy all KBC shares at 6.9 cents each, in a move that has garn...

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Envirosuite raises $10 million for China expansion plans

Envirosuite raises $10 million for China expansion plans

Environment management tech company Envirosuite intends to scale up in China after a successful $10 million capital raise. The group, which builds software to monitor and manage the environment, hopes to continue pushing into China with the injection of cash. Named number 49 in Business News Australia's 2019 Brisbane Top Companies...

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Brisbane Top Companies

Brisbane Top Companies

As a city known for its relatively high percentage of founder-led businesses, Brisbane has undergone a changing of the guard in 2019 with a mix of high-profile exits, exponential risers and executive renewal. Suncorp retained the top spot despite its results copping a battering and a new CEO took the helm. New leaders also came to the for...

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Brisbane Top Companies 11-20

Brisbane Top Companies 11-20

A short-selling attack from VGI Partners saw Corporate Travel Management fall out of the top 10 this year, but the company's founder and CEO Jamie Pherous has remained stoic, lifting his stake in the company while under a barrage of criticism from the investment community. Buoyed by its software as a service (SaaS) division, foun...

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Brisbane Top Companies 21-30

Brisbane Top Companies 21-30

From bathroom fittings to storage, electricity to investments, the companies that made the top 30 are from a wide range of industries that all have a significant impact on the city's economy, not to mention the nation's. ERM Power is currently the target of a $617 million takeover bid from Shell Energy Australia, with a vote ...

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Brisbane Top Companies 31-40

Brisbane Top Companies 31-40

This is where the Brisbane Top Companies list really starts to get interesting. The space between 31 and 40 includes five new entrants including founder-led telecommunications and IT solutions company Over the Wire, workforce management group People Infrastructure and Galilee Energy, which is taking the step up from explorer to gas p...

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Brisbane Top Companies 41-50

Brisbane Top Companies 41-50

Some major players slipped out of the higher brackets this year into the bottom 41 to 50 of Brisbane's Top Companies. Notably, Michael Hill fell from its 2018 rank of 30 to number 41 in 2019, thanks to a disappointing year of sales, but things appear to be picking up for the jewellery retailer. Sunland Group fell down eight spots ...

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Retail Food Group to raise $150 million

Retail Food Group to raise $150 million

Embattled food franchisor behind brands like Gloria Jean's, Donut King, and Michel's Patisserie, Retail Food Group (ASX: RFG) has launched a capital raise to secure $150 million. The funds are part of the group's recapitalisation plans, with $118.5 million of proceeds from the offer to go toward repayment of debt. As part ...

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APN Convenience REIT to scoop up 13 service stations for $75 million

APN Convenience REIT to scoop up 13 service stations for $75 million

Service station operator APN Convenience REIT (ASX: AQR) is poised to expand its portfolio of properties with a proposed $75 spending spree. The group will acquire 13 service stations and convenience retail properties in South Australia, Western Australia, Queensland and the Northern Territory for a total consideration of $74.6 million. ...

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Fastbrick Australia enters into strategic partnership with WA home builder

Fastbrick Australia enters into strategic partnership with WA home builder

Robotic wall building company FBR Australia (ASX: FBR) has announced its latest play in Western Australia, partnering with a leading home builder in the state. The group's joint venture with Brickworks Building Products called Fastbrick Australia has entered into a building pilot program with Summit Homes Group. It follows two sim...

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Instyle Solar announces power play with League legend Johnathan Thurston

Instyle Solar announces power play with League legend Johnathan Thurston

Rugby league legend Johnathan Thurston (pictured left) has come on board with leading Australian solar company, Instyle Solar, as their first official ambassador.  The multi-year partnership will see the renowned family man share his own journey of living with solar via a series of online content, along with appearing in marketing co...

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Orora to sell fibre business to Nippon for $1.7 billion

Orora to sell fibre business to Nippon for $1.7 billion

Shares in packaging company Orora (ASX: ORA) have surged 19 per cent this morning after the Melbourne-based group announced it would be selling its Australasian fibre business to a subsidiary of Japan's Nippon Paper Industries for $1.72 billion. Orora estimates a net gain after costs and tax of $225 million, with the sale pr...

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