COVID-19 uncertainty sees Vocus post $178m loss

COVID-19 uncertainty sees Vocus post $178m loss

Internet service provider Vocus (ASX: VOC) has seen its profits fall away in FY20 as it grapples with how COVID-19 will impact the small-to-medium business sector. The company posted a loss for FY20 of $178.2 million today, down from a profit of $34 million last year, with revenue also dipping by 6 per cent. Vocus attributes this downturn ...

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WiseTech shares jump on bullish FY21 profit forecast

WiseTech shares jump on bullish FY21 profit forecast

Shares in logistics solutions provider WiseTech (ASX: WTC) have risen 32 per cent to $27.51, hitting their highest levels since a February crash when FY20 guidance was cut by 17 per cent due to the onset of COVID-19. Today the group founded by former music executive Richard White reported an EBITDA of $126.7 million, above the midpoint of gu...

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Crown profits take a hammering from closed casinos

Crown profits take a hammering from closed casinos

With its casinos closed in line with COVID-19 restrictions for a chunk of the last financial year, Crown Resorts (ASX: CWN) witnessed an 80.2 per cent dive in profits after tax down to $79.5 million. The group was forced to close all of its gaming facilities as well as a significant part of non-gaming operations at Crown Perth and&...

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Tabcorp to raise $600m as COVID-19 closures spark massive loss

Tabcorp to raise $600m as COVID-19 closures spark massive loss

All bets are off for gambling giant Tabcorp (ASX: TAH) as it looks to raise capital to offset the impacts of more than $1 billion in impairment charges due to COVID-19. The company posted a $870 million loss today, which is a far cry from the company's FY19 profit of $362.5 million. Despite recent reopenings in most of the country CEO&...

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Corporate Travel Management surprises market with underlying profit

Corporate Travel Management surprises market with underlying profit

After Flight Centre (ASX: FLT) last week reported a loss equivalent to around 39 per cent of its market capitalisation, Corporate Travel Management (ASX: CTD) has today reported a marginal loss while recent monthly revenue is tracking well above expectations. The group reported a statutory loss of $8.2 million for FY20, which is less than 1 ...

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Domino's delivers record earnings as digital sales dominate

Domino's delivers record earnings as digital sales dominate

Domino's Pizza Enterprises (ASX: DMP) has has reported record earnings and significant sales growth as more customers turn to online ordering during the COVID-19 pandemic. However, despite a lift in local sales earnings dropped by 5 per cent in Australia and New Zealand. The company's 'Zero Contact' delivery model paid off ...

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Cann Group share purchase plan oversubscribed by $10m

Cann Group share purchase plan oversubscribed by $10m

One of the biggest names in Australia's medicinal cannabis industry has increased the size of a share purchase plan (SPP) by 62 per cent after an encouraging uptake from investors. Following a successful $14.3 million placement including a close to 8 per cent participation from directors, Cann Group (ASX: CAN) was aiming to raise a ...

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Patent litigation, COVID-19 send Cochlear into the red with $238m loss

Patent litigation, COVID-19 send Cochlear into the red with $238m loss

Hearing implant maker Cochlear (ASX: COH) has reported its first ever loss since listing on the ASX almost 25 years ago, as a US court battle and suspended surgeries due to COVID-19 weighed heavily on its results in FY20. The Sydney-based group has today announced a $238.3 million loss, down 186 per cent from a profit of $276.7 mil...

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Gary Weiss launches third attempt for a seat on Cromwell board

Gary Weiss launches third attempt for a seat on Cromwell board

Corporate raider Dr Gary Weiss (pictured) has launched his third bid to land a position on the board of Cromwell Property Group (ASX: CMW) as part of an improved takeover offer from ARA Group. Weiss attempted to push for a seat at the Cromwell table at an extraordinary general meeting in March, and following a similar move at last year's...

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Profit soars as Kogan rides e-commerce bonanza

Profit soars as Kogan rides e-commerce bonanza

Online retailer Kogan.com (ASX: KGN) has emerged as a success story of the COVID-19 pandemic period, notching a $27 million profit today. Much of the company's success can be attributed to the growth of its Amazon-style storefront Kogan Marketplace, with gross sales increasing by 71.2 per cent in the second half.  However, it was ...

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Charter Hall, GIC take $682m stake in Ampol property trust

Charter Hall, GIC take $682m stake in Ampol property trust

The petrol station and fuel supplier formerly listed as Caltex will put 203 freehold convenience retail sites into an unlisted property trust, and has brought two major investors on board to own a 49 per cent interest. Charter Hall Group (ASX:CHC) and Singapore's sovereign wealth fund GIC will acquire their stake in Ampol's (ASX...

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SunRice to buy Victorian dairy and beef business

SunRice to buy Victorian dairy and beef business

Australian food exporter SunRice (ASX: SGL) is set to acquire the dairy and beef business of Riverbank Stockfeeds for less than $10 million. Announced this morning, SunRice's stockfeed producing subsidiary CropRice has signed a purchase agreement to acquire the arm of the Victorian-based livestock product maker. The cost of the acquisi...

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Major breakthrough for Mesoblast as FDA advisory committee backs Ryoncil

Major breakthrough for Mesoblast as FDA advisory committee backs Ryoncil

Shares in Mesoblast (ASX: MSB) have spiked after the Oncologic Drugs Advisory Committee (ODAC) voted nine-to-one in favour of recommending the company's graft versus host disease (GvHD) treatment remestemcel-L this morning. The support from the ODAC, an advisory committed to the US Food and Drug Administration (FDA), is a major coup for ...

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For some companies, JobKeeper has become DividendKeeper

For some companies, JobKeeper has become DividendKeeper

In this recession, unlike in previous ones, governments have chosen to help pay salaries to keep workers in work rather than pay unemployment benefits when they laid off. It means that the July unemployment rate revealed on Thursday was 7.5% instead of the 8.3% it would have been had those working zero hours but being paid by JobKeeper been ...

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Unaided by JobKeeper, Baby Bunting turns $10 million profit

Unaided by JobKeeper, Baby Bunting turns $10 million profit

Baby Bunting (ASX: BBN) has pulled its weight through FY20, despite a series of financial impairments and a lack of COVID-related government assistance which impacted the bottom line. The baby goods retailer didn't qualify for JobKeeper support, yet still managed to make a $10 million profit and meet its guidance. On this news, BBN sha...

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Fiji Kava shares on a high after Blackmores deal

Fiji Kava shares on a high after Blackmores deal

Shares in Fiji Kava (ASX: FIJ) rose almost 61 per cent today after the Australian-Fijian medicinal health company announced a major agreement with Blackmores (ASX: BKL) subsidiary BioCeuticals. Under a non-exclusive licence agreement the two partners will develop a co-branded product in Australia and New Zealand, based on FIJ's...

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ECS Botanics unveils plans for major cannabis growing project

ECS Botanics unveils plans for major cannabis growing project

ECS Botanics (ASX: ECS) has outlined plans for a medicinal cannabis growing project that will generate an estimated 32,500kg of dry flower per annum once complete. Expected to cost close to $3 million, the outdoor growing facility in northern Tasmania is forecast to become one of the largest medicinal cannabis productions by area in Australi...

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Logistics property powerhouse Goodman Group beats earnings guidance

Logistics property powerhouse Goodman Group beats earnings guidance

At a time when many retail and commercial property owners are up against the wall, a logistics property portfolio leveraging convenience and e-commerce trends is paying off for founder-led Goodman Group (ASX: GMG). With strategic assets overseas and an Australian portfolio linked to the likes of Amazon, Coles, Woolworths and Kogan to na...

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Online shoppers deliver record earnings for Premier Investments

Online shoppers deliver record earnings for Premier Investments

Solomon Lew's retail operation Premier Investments (ASX: PMV) has thrived on online sales during the second half to post record earnings. The company behind Smiggle, Portmans, Peter Alexander and more says online sales and EBIT growth accelerated to deliver record earnings for the period. As a direct result of the pandemic, including m...

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Flight Centre forecasts $875m loss

Flight Centre forecasts $875m loss

Flight Centre (ASX: FLT) has tightened its belt and corporate clients are spending more than expected, but the pandemic's toll has shown its jetlagged weary face with the travel company anticipating a loss before tax of $825-875 million in FY20. This will likely represent more than a $1 billion shift in the negative from Flight Centre...

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