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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Domino's tastes delight with $2.9 billion in global sales

Domino's tastes delight with $2.9 billion in global sales

The staff at Domino's have certainly earned this year's corporate pizza party with the group cracking $2.9 billion in global sales during FY19. The 11.9 per cent increase by $308 million in food sales comes as the Brisbane-based company continues to push internationally. Domino's stores in Japan led the charge for the grou...

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WiseTech profit up 39 per cent thanks to "relentless innovation"

WiseTech profit up 39 per cent thanks to "relentless innovation"

WiseTech (ASX: WTC) is proving a salve to global logistics pain points as its software gains traction around the world, bringing a significant boost to profits in the process. In its FY19 results today the Sydney-based company reported EBITDA was up 39 per cent at $108.1 million, driven by "geographic expansion, relentless innovation...

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Megaport loss worsens despite record revenue

Megaport loss worsens despite record revenue

Brisbane-based tech group Megaport (ASX: MP1) reported record revenue for FY19, but that hasn't stemmed yet another full year loss. The group reported a net loss for FY19 of $33.6 million during a year in which the company delivered revenue of $35.1 million. However, the loss is likely the result of aggressive expansion from the d...

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Corporate Travel Management lifts profit despite global volatility

Corporate Travel Management lifts profit despite global volatility

Corporate Travel Management (ASX: CTD) has lifted profits by 20 per cent and the board expects further growth in FY20, yet its share price has been languishing at levels seen after a short selling attack from hedge fund VGI Partners (ASX: VGI) in late 2018. In Brisbane-based group's FY19 results this morning, EBITDA hit...

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Seven posts $444.5 million loss

Seven posts $444.5 million loss

Just days after the resignation of its CEO Tim Worner Seven West Media (ASX: SWM) has posted a monumental full year loss. The company has recorded a $444.5 million loss for FY19, down from a profit of $133.7 million in FY18. The announcement follows the resignation of Worner last Friday, who was replaced by former Network Ten CEO Jame...

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Zip fastens growth prospects with overseas acquisition

Zip fastens growth prospects with overseas acquisition

Zip Co (ASX: Z1P) is spreading its wings into new markets with an acquisition that sees it following in the footsteps of competitors in a global marketplace for buy-now pay-later (BNPL) services.  Similar to the way that Afterpay has pushed significantly into the US, and how Swedish buy-now pay-later solution Klarna has arrived in Au...

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Kogan shares rise after gross sales race past $500m

Kogan shares rise after gross sales race past $500m

E-tail giant Kogan (ASX: KGN) expanded its product offering into uncharted territory in FY19 and delivered double digit earnings growth as a result. The company's shares have risen by more than 8% today after the group reported it had surpassed half a billion dollars in gross sales for the year.  Revenue was up 6.4 per c...

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Uniti Wireless to acquire FTTP network for $100 million

Uniti Wireless to acquire FTTP network for $100 million

Adelaide-based teclo Uniti Wireless (ASX: UWL) is continuing on its spending spree with the announcement of a $100 million acquisition. The group hopes to raise $100 million in order to acquire builder and wholesale operator of private fibre networks LBNCo. LBNCo is described by Uniti as "highly profitable" and is predominan...

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Lendlease profit dives 40 per cent during "difficult" trading year

Lendlease profit dives 40 per cent during "difficult" trading year

Property project developer Lendlease (ASX: LLC) has capped off a tough FY19 with a 40 per cent dive in profits, down to $467 million from $793 million. The financial year was a rough one for the developer, with class actions being thrown at it by Phi Finney McDonald and Maurice Blackburn, and an ailing engineering and services business dr...

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Rhipe harvests a bumper full year profit

Rhipe harvests a bumper full year profit

Cloud solutions company Rhipe (ASX: RHP) has posted an operating profit of $12.8 million for FY19, up 65 per cent on the previous year. This healthy harvest comes as the group has continued to grow across the business during the financial year, particularly its Asian focused business. Sales were up by 28 per cent to $252.5 million dur...

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Charter Hall consortium buys $700 million stake in Telstra properties

Charter Hall consortium buys $700 million stake in Telstra properties

A consortium led by Charter Hall has acquired a 49 per cent interest in an unlisted trust of 37 exchange properties for $700 million. The properties in the trust are all leased to Telstra (ASX: TLS), with the telco giant set to retain a 51 per cent interest as well as operational control. The consortium is owned by three separate buye...

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Despite "disappointing" results, Michael Hill is optimistic for year ahead

Despite "disappointing" results, Michael Hill is optimistic for year ahead

A transitional period and challenging market conditions have taken the sparkle out of Michael Hill's (ASX: MHJ) FY19. Group operating revenues were down slightly to $569.5 million while underlying earnings also dropped 13.7 per cent to $34.6 million. Michael Hill's FY18 net profit result was adjusted down to $1.6 million to ac...

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This Apple backed founder thinks we need to rethink Australia's rigid economy

This Apple backed founder thinks we need to rethink Australia's rigid economy

As the founder of Blackmagic Design, Grant Petty (pictured) certainly knows a thing or two about running a business. The company is one of Australia's most successful tech-plays in recent times. Founded in 2001 Blackmagic Design has been at the forefront of film and television ever since then with its varied suite of cameras, capture ...

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China's e-commerce laws tough pill to swallow for Blackmores

China's e-commerce laws tough pill to swallow for Blackmores

Australia's leading vitamin supplement company Blackmores (ASX: BKL) saw strong results in almost all its markets in FY19, but there's one important exception - China. The Sydney-based company's net profit after tax (NPAT) was down 24 per cent at $53 million, despite good results and home and aggressive diversification efforts...

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Super Retail Group's proactive approach pays off

Super Retail Group's proactive approach pays off

A tough retail industry has claimed its fair share of victims over the past few years, but Super Retail Group (ASX: SUL) appears to be standing head and shoulders above the mire. The company behind popular brands Supercheap Auto, Rebel, BCF and Macpac experienced steady and consistent growth throughout FY19. Group sales rose 5.4 per c...

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Cleanaway shares plunge despite profit surge

Cleanaway shares plunge despite profit surge

Investors have dumped shares in Cleanaway Waste Management (ASX: CWY) despite significant boosts to profits and its final dividend.  Shares in the Melbourne-based company dropped 10.5 per cent to $2.13 in early trading even though net revenue was up 35 per cent at $2.1 billion, reflecting strong growth across all operating segments. ...

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