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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How the 'Transformation Economy' will reshape Australian retail

How the 'Transformation Economy' will reshape Australian retail

For the world of retail this decade has been all about the dichotomy of online versus physical; clicks versus bricks. It is a distinction that has confounded the dinosaurs of traditional Australian retail, leading to the demise of many purely physical retailers, and egging on the rise of online warehouse type platforms like Amazon or Aust...

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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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Cromwell to pay $525m for Brisbane CBD property

Cromwell to pay $525m for Brisbane CBD property

After announcing plans to spend $1 billion on new assets in June, real estate investor and manager Cromwell Property Group (ASX:CMW) has today slated more than half that amount for buying 400 George Street in Brisbane. The company has exchanged contracts to buy the property for $524.75 million, with funds to be used from the recent $...

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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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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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Aussie businesses tap travelling workforce to solve staffing issues

Aussie businesses tap travelling workforce to solve staffing issues

With unemployment in Australia continuing to hover at around 5 per cent, recruiting and retaining quality talent is becoming a growing challenge. Not only does it affect companies' ability to grow, it impacts customer service and productivity levels. Helping alleviate this pressure is The Global Work & Travel Co., the Gold Coa...

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What will be the legacy of the Hayne Royal Commission?

What will be the legacy of the Hayne Royal Commission?

The Hayne Royal Commission into the banking and financial services industry uncovered plenty of ugliness about Australia's leading financial institutions. The institutions themselves are still dealing with the fallout of the Royal Commission; class actions, board spills, and "restructure" plans are abound this year. What...

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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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Top marks for A Team Tuition

Top marks for A Team Tuition

You know your tutoring business is on the right track when the vast majority of your students with poor grades are suddenly getting As and Bs. In his early high school years Hayden McEvoy struggled with attention deficit disorder (ADD), but with a disciplined approach he transformed his own learning to achieve almost s...

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James Warburton replaces Tim Worner as chief of Seven

James Warburton replaces Tim Worner as chief of Seven

Tim Worner (pictured), CEO of Seven West Media (ASX: SWM), has today resigned from the company. Worner leaves with immediate effect to be replaced by former CEO of Network Ten, APN Outdoor and Supercars James Warburton. Warburton previously worked for Seven as a chief digital and sales officer before leaving the company become Ten'...

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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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