Brand acquisition reaps rewards for Noni B

Brand acquisition reaps rewards for Noni B

A $31 million purchase of five iconic clothing brands last year has paid off for women's fashion retailer Noni B (ASX: NBL) as revenue more than doubled and profits rose by a fifth in FY19. Noni B scooped up the brands Millers, Katies, Crossroads, Autograph and Rivers from Specialty Fashion Group (now City Chic Collective) in May...

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Fresh start lends new life to City Chic Collective

Fresh start lends new life to City Chic Collective

A change in name and structure has worked wonders for the company formerly known as Specialty Fashion Group (SFG), with its new incarnation finding the right fit in FY19. After changing its name to City Chic Collective (ASX: CCX) in November last year, the group is now back in black and its share price is up by around 50 per cent. Fol...

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Impairment charge cuts Superloop result

Impairment charge cuts Superloop result

A hefty impairment charge has led to connectivity company Superloop (ASX: SLC) to post a $72 million loss for FY19. The $50.7 million impairment charge was for the retiring of non-core, non-bandwidth services segment and is the main contributing factor to the drop in the group's fortunes. Superloop's revenue was $117.3 million...

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Brunswick Harley-Davidson dealership sold to MotorCycle Holdings

Brunswick Harley-Davidson dealership sold to MotorCycle Holdings

MotorCycle Holding (ASX: MTO) is set to acquire Northside Harley Davidson in Brunswick, Victoria. The dealership has an annual turnover of around $9 million and employs 14 staff to sell around 226 new and used motorcycles a year. The transaction is scheduled to settle in October this year, provided due diligence, lease assignment and ...

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Landmark White share price tanks on return to ASX

Landmark White share price tanks on return to ASX

After being hit with two cyber-attacks embattled property valuation group Landmark White (ASX: LMW) has returned to the ASX. But its return has come at a cost, with the group's share price down 52 per cent to $0.09 per share at 12.30pm AEST. Landmark White was placed into a state of temporary suspension from the ASX in early June ...

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Property market slams McGrath with $15.6 million loss

Property market slams McGrath with $15.6 million loss

A difficult property market has put a strain on real estate group McGrath, posting a net loss after tax of $15.6 million at the end of FY19. Company revenue was down 17 per cent to $82.7 million, and underling EBITDA came in within guidance at $6.4 million. McGrath has blamed its results on "difficult market conditions" whic...

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National Veterinary Care purring as profits lift

National Veterinary Care purring as profits lift

National Veterinary Care (ASX: NVC) plans to scale down acquisition growth and consolidate in FY20, following a stellar result buoyed by the rapid absorption of new businesses in Australia and New Zealand. The Gold Coast-based company saw its revenue surge 43.6 per cent to reach $118.4 million in FY19, while net profit after tax jumped 28...

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Cannatrek to build $160 million medicinal cannabis facility in Victoria

Cannatrek to build $160 million medicinal cannabis facility in Victoria

One of the world's largest medicinal cannabis production facilities will be built in Shepparton, Victoria by Cannatrek. The $160 million production facility will create more than 400 jobs a year for the local region and will be able to prouce around 160 tonnes of medicinal cannabis per year. CEO of Cannatrek Tommy Huppert says rec...

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Fitstop doubles franchise footprint in just two years

Fitstop doubles franchise footprint in just two years

In two years, functional training group Fitstop has more than doubled its franchise footprint. The business, co-founded by Peter Hull (pictured left) and Richard Bell (pictured right) in Brisbane in 2017, is expected to accelerate its national growth by 300 per cent after closing a $1.4 million funding round earlier this year. It has ...

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Ardent Leisure on the mend but the Dreamworld tragedy remains a problem

Ardent Leisure on the mend but the Dreamworld tragedy remains a problem

While the 2016 Dreamworld tragedy continues to haunt the results of parent company Ardent Leisure (ASX: ALG) the company's books are on the mend. During FY19 the group reported a loss of $60.9 million, compared to a loss of $90.7 million in the prior year. Total earnings has improved by around $65.7 million, from a loss of $54 mil...

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Vita Group reports record revenues

Vita Group reports record revenues

The latest financial year has been kind to Vita Group, with the company posting record revenues of $753.7 million, up ten per cent on FY18. Earnings were $45.8 million, up 12 per cent, and net profit after tax grew by ten per cent to $24.3 million. Vita Group says the results reflect continued momentum in the group's ICT division....

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GO1 partners with intelliHR

GO1 partners with intelliHR

Leading training and compliance platform GO1 has partnered with intelliHR (ASX: IHR) on a revenue sharing agreement. The listed intelliHR is currently looking to expand its capabilities by partnering with Australian and overseas businesses to create an integrated ecosystem of HR tools for business. GO1 was selected thanks to its large...

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Vocus lifts FY20 guidance after profits take a beating

Vocus lifts FY20 guidance after profits take a beating

Shares in telco Vocus Group (ASX: VOC) rose 10 per cent this morning after the company lifted its profit guidance for FY20 by around $9 million. Despite a tough year that saw Vocus unable to reach takeover deals with two suitors and a class action brought by Slater & Gordon alleging misleading or deceptive conduct in 2016, t...

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Travel giants Flight Centre and Webjet soaring on strong profits

Travel giants Flight Centre and Webjet soaring on strong profits

Travel industry juggernauts Webjet (ASX: WEB) and Flight Centre (ASX: FLT) released their FY19 results today, with both groups still at cruising altitude. Webjet delivered a 43 per cent increase in earnings to $124.6 million, a 26 per cent increase in revenue to $366.4 million and net profit after tax was up 46 per cent at $81.3 million. ...

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Fintech Zip Co cuts loss in half

Fintech Zip Co cuts loss in half

In FY20 the company plans to launch instalments for business, secure strategic deals with banks and partners, enter everyday spend categories, and oversee the launch of its recently acquired PartPay in the UK. With buy-now pay-later (BNPL) players in a frantic race against time to capture international market share and brand recognition, ...

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Record revenue for Qantas but high fuel costs guzzle profit

Record revenue for Qantas but high fuel costs guzzle profit

Australian airline Qantas (ASX: QAN) posted record revenue for FY19, but faced some pretty stiff headwinds that dragged its profits down. Luckily for Qantas, planes take off into the wind. The group's underlying profit before tax was down 17 per cent to $1.3 billion despite the company posting record revenue results. Fuel cost...

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Nine triumphs over weak free-to-air market

Nine triumphs over weak free-to-air market

A challenging free-to-air (FTA) market threatened to undo Nine Entertainment (ASX: NEC) in FY19, but the media company pulled up on top. On a statutory basis, Nine reported a net profit after tax of $234 million, up 12 per cent on FY18. Meanwhile, group earnings grew by 10 per cent to $424 million. These relatively strong results ...

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Shell makes $617m bid for ERM Power

Shell makes $617m bid for ERM Power

The Australian subsidiary of Royal Dutch Shell is offering a 43 per cent premium in its attempt to acquire Brisbane-based energy business ERM Power for around $617 million. ERM founder Trevor St Baker (pictured), who has a 27.39 per cent stake in the company, has confirmed he intends to vote in favour of the deal unless a superior offer c...

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Record portfolio growth for Nearmap in milestone year

Record portfolio growth for Nearmap in milestone year

Aerial mapping group Nearmap (ASX: NEA) completed a "milestone" year with record portfolio growth as the company prepares to dive into artificial intelligence. Group annualised contract value grew by a record $24 million to $90.2 million, with contracts in North America contributing more than one third of the total portfolio. ...

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Stockland profits smashed by devaluations

Stockland profits smashed by devaluations

While developer Stockland (ASX: SGP) may have added $505 million to its cash balance from retail town centre divestments in FY19, the company suffered devaluations to its current portfolio that were approaching that figure. The Sydney-headquartered group recorded a 4 per cent increase in funds from operations (FFO) for FY19 to $897 millio...

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