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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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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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 underlying EBITDA came in within guidance at negative $6.4 million. McGrath has blamed its results on "difficult market conditions&...

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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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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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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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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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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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