TechnologyOne profit up 130 per cent

TechnologyOne profit up 130 per cent

Brisbane-based TechnologyOne (ASX: TNE) has reported 1H19 profits before tax up 130 per cent on the back of higher value annual software as a service (SaaS) contracts. Net profit before tax at the end of the first half was up 130 per cent to $24.5 million, with profit attributable to members up 119 per cent to $17.9 million. Revenue w...

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Blue Sky Alternatives Access Fund secures control of bank account

Blue Sky Alternatives Access Fund secures control of bank account

Listed spinoff of Blue Sky Alternative Investments (ASX: BLA) the Alternatives Access Fund (ASX: BAF) has confirmed it is solvent and now separate from its parent as BLA falls into receivership. Last week, the directors of BAF took steps to secure control of the bank account holding in excess of $29 million by placing a stop on the accoun...

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Blue Sky calls in receivers

Blue Sky calls in receivers

After a year of languishing results, director conflicts, class action speculation and a failed rescue deal with a US venture capital fund, Blue Sky Alternative Investments (ASX: BLA) has finally hit the wall. Shares in the company have been suspended from the ASX today after Blue Sky announced it had appointed KordaMentha as its...

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Virgin takes a $100 million nosedive

Virgin takes a $100 million nosedive

Virgin Australia (ASX: VAH) has announced an expected loss of $35.6 million at the end of FY19 this morning. The dive is expected to result from a $100 million earnings dip which the company says reflects domestic trading conditions and annual fuel and forieng exchange headwinds in excess of $160 million. This shock announcement comes...

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Superloop and QIC fail to come to agreement

Superloop and QIC fail to come to agreement

QIC's proposed $494 million takeover of Superloop (ASX: SLC) is dead in the water after the two parties could not come to a suitable transaction offer. Superloop says that after opening up the books to QIC Private Capital for a three-week period of exclusive due diligence neither party could come to an agreement. "The announc...

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