Cann Global high on Costco partnership

Cann Global high on Costco partnership

Shares in Cann Global (ASX: CGB) are spiking on the news that the medicinal cannabis developer and manufacturer has partnered with big-box retailer Costco in Australia, up 24 per cent to $0.031 per share at 3.59pm AEST. The deal sees Costco ordering 6900 bottles of Cann Global's popular VitaHemp organic premium hemp seed oil daily cap...

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Profits climb and shares drop for AI leader Appen

Profits climb and shares drop for AI leader Appen

Machine learning and artificial intelligence (AI) dataset company Appen (ASX: APX) notched a 60 per cent jump in revenue to reach $245.1 million in the first half of 2019. The Sydney-headquartered company recorded a 33 per cent rise in statutory net profit after tax (NPAT) to hit $18.6 million. Chief executive officer Mark B...

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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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Hypermarket giant Kaufland slates 11 new stores for Victoria

Hypermarket giant Kaufland slates 11 new stores for Victoria

German hypermarket Kaufland is set to shake up Australia's retail sector with two more stores confirmed for Melbourne and a further nine to be reviewed for roll-outs across Victoria. The move comes as construction continues for Kaufland's 115,000 square metre distribution centre in Mickleham, and adds to three stores approved...

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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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US strategy shift causes growth pains for Elixinol

US strategy shift causes growth pains for Elixinol

One of Australia's leading medicinal cannabis companies saw 19 per cent year-on-year revenue growth for the first half of 2019, but the outcome would have likely been better if it hadn't pulled out of a low-margin private label business earlier this year. Major cannabidiol (CBD) and hemp player Elixinol Global (ASX: EXL) notched $...

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NEXTDC shares slump despite record result

NEXTDC shares slump despite record result

Shares in data centre company NEXTDC (ASX: NXT) fell by more than 5 per cent this morning even though it announced record revenue and profit in FY19 along with projected EBITDA growth of at least 17.5 per cent for the current financial year. The Brisbane-based company highlights $500 million of senior unsecured debt was raised during...

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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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Whispir beats IPO prospectus forecast

Whispir beats IPO prospectus forecast

Cloud communications software as a service (SaaS) company Whispir (ASX: WSP) exceeded its prospectus forecasts today for both revenue and EBITDA, yet its shares are trading below the IPO offer price. Such is the capriciousness of a volatile share market, especially for tech companies at the moment. Revenue for the Melbourne-founded co...

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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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The best Christmas party venues, all in one place

The best Christmas party venues, all in one place

Your staff have worked hard all year and deserve to party. Here's how you can make their end of year celebration unforgettable. From an intimate get together to the most extravagant gala, there are many ways to show your team appreciation at Christmas time, but of course finding the right setting is always key.

To make the choice...

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Ernst & Young stands by Rural Funds after investigation into short selling report

Ernst & Young stands by Rural Funds after investigation into short selling report

Shares in Rural Funds Group (ASX: RFF) have risen three per cent in early trading after an investigation from Ernst & Young (EY) found claims from a US-based short seller were "not substantiated". Earlier this month a report from Bonitas Research, founded by Matthew Wiechert whose previous fund Glaucus triggered th...

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ACCC review slams food franchisors for failing franchisees

ACCC review slams food franchisors for failing franchisees

Food franchisors are yet again in the spotlight for their failings as the Australia Competition and Consumer Commission (ACCC) releases its latest review into the sector. The watchdog found that franchisors in the food services sector are providing inadequate information to potential franchisees. The report, Disclosure practices in fo...

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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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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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How Complete Business Travel is riding the wave of success

How Complete Business Travel is riding the wave of success

At the recent 2019 AFTA National Travel Industry Awards the team at Complete Business Travel (CBT) knew they were in with a chance. Few other travel management companies could match their expertise and personal service and they had been finalists for the last 4 years. Then at the gala night in Sydney they finally heard the words: &quo...

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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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Aggrieved partners question Smiles Inclusive's solvency

Aggrieved partners question Smiles Inclusive's solvency

Three partners of dental practice Smiles Inclusive (ASX: SIL) have criticised the company over the alleged non-payment to creditors and are seeking clarity over its solvency. Joint venture partners (JVPs) John Camacho and Arthur Walsh announced today they had written to the Australian Securities and Investments Commission (ASIC) at length...

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IOOF to fork out $183m in 'fees for no service' remediation

IOOF to fork out $183m in 'fees for no service' remediation

Shares in financial advisory firm IOOF (ASX: IFL) plunged 8 per cent this morning after the company reported a 68 per cent drop in profit due to a hefty sum set aside for remediation to customers. IOOF's relatively new CEO Renato Mota (pictured) notes underlying net profit after tax was up 3.4 per cent at $198 million in FY19, ho...

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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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How to invest in properties to maintain your wealth

How to invest in properties to maintain your wealth

With the housing market and current tax laws creating attractive investment opportunities across most Australian capital cities, conditions may be perfect to look at increasing your portfolio or investing for the first time. Australian banks and lenders have curated a swathe of investment mortgages that can help you increase your asset ba...

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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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