Amazon's Australian expedition continues in Sydney

Online retail behemoth Amazon has pushed forward with its expansion plans in Australia, opening a brand new fulfilment centre. Based in Moorebank, South West Sydney, Amazon's second fulfilment centre opened its doors this morning. The latest fulfilment centre is nearly double the size of the first Australian fulfilment centre in M...

Seek marred by trouble in Latin America

Political and economic turmoil in Latin America has blemished Seek's (ASX: SEK) financial year as the company has been forced to write down key assets in the region. The online job agency today reaffirmed a total impairment charge of $178 million it warned investors about earlier this month, comprised of $119 million against the carry...

Aveo bounces back in FY18 but investors still lack confidence

Despite Aveo (ASX: AOG) reporting some solid FY18 results and announcing the completion of its five-year transformation project, investors are still wary of the retirement village operator. A variety of reasons could have led to Aveo's share price not reflecting more recent successes, but Aveo CEO Geoff Grady is choosing to focus on p...

Double digit growth again for Villa World

Residential property developer Villa World Limited (ASX: VLW) has reported strong results for FY18 amid solid sales from its flagship projects on the east coast. The company has posted double digit profit growth for the fifth consecutive year with a statutory net profit after tax of $43.6 million for FY18, up 15 per cent year-on-year. ...

UK exit slashes Wesfarmers profits

Profit at retail and industrials giant Wesfarmers (ASX: WES) was down by almost $1.7 billion in FY18 due to the group's pull-out from Bunnings United Kingdom and Ireland (BUKI), but on a like-for-like basis revenue was up slightly and profit rose 5.2 per cent. In a shareholder brief today, chairman Michael Chaney and managing director...

"Ineffective marketing" hits iSelect results

While hampered by its marketing strategy, the company was still able to improve conversion rates and a new CEO is upbeat for recovery in the year ahead. Car insurance and financial advice comparison group iSelect (ASX: ISU) registered a sharp downturn on its balance sheet during FY2018, but management is adamant the company is back on a g...

Hear hear! Implant milestone for Cochlear with solid results

Leading hearing implants business Cochlear (ASX: COH) has enjoyed a solid year, with full-year net profits up 10 per cent. Thanks to strong demand for its hearing implants, the listed company saw full-year profit rise to $245.8 million, and sales revenue up 9 per cent to $1.35 billion. Cochlear CEO Dig Howitt says the business' pe...

Domino's sales hit $2.6bn in record year

Domino's (ASX: DMP) has set itself a new benchmark after reporting a record profit of $136 million in FY18, bolstered by rapid expansion and growth across markets in Australia and overseas for the Brisbane-headquartered pizza purveyor. The result represents a 15 per cent lift on the group's NPAT in FY2017. The company added al...

Domain's loss 'expected' post-IPO

Domain (ASX: DHG) has posted a $6.2 million full-year net loss for FY18 following a significant year of transition and restructuring. The online real estate advertiser reported statutory revenue of $286.6 million and a statutory net loss of $6.2 million during its first period as a standalone ASX listed company, which has not yet been a f...

WA brewer secures Perth stadium contract

Gage Roads Brewing (ASX: GRB) has reached a deal to be the exclusive supplier of beer and cider to nib Stadium for the next five years, following a competitive tender process with the Perth sporting and entertainment ground's operator VenuesWest. Managing director John Hoedemaker said the company was proud to be awarded the contract, ...

Capilano shareholders to vote on takeover

Honey producer Capilano (ASX: CZZ) has announced it is being eyed for potential takeover by a consortium of private equity funds. This morning, the listed company told shareholders of its recommendation to allow the consortium of firms to take over the company. Capilano has entered into a scheme implementation agreement with Bravo Hol...

JB Hi-Fi profit soars with 35 per cent increase amid industry uncertainty

When Amazon landed in Australia in late 2017 many commentators thought it would be a death sentence for leading local electronics retailer JB Hi-Fi (ASX: JBH). But the business has survived and pulled out a solid result, with profits up by 35 per cent for FY18. Boosted by its takeover of rival The Good Guys, JB Hi-Fi posted a 12.3 per...

World Bank appoints CBA for first global blockchain bond

Negative news around a royal commission at home hasn't prevented the Commonwealth Bank (ASX: CBA) from securing a prestigious mandate from the World Bank in Washington DC to deliver the first ever international blockchain bond. Perhaps a play on the iconic Sydney beach the bond will be known as 'bond-i', which stands for '...

ACCC gives green light to Bega's $250m Victorian acquisition

The Australian Competition and Consumer Commission (ACCC) has given Australian dairy company Bega (ASX: BGA) the go-ahead to acquire a $250 million dairy processing plant in Koroit, Western Victoria. The facility managed by Saputo Dairy Australia (SDA) currently processes milk into bulk and retail butter, commodity and retail milk powders...

YPB signs deal to develop global authentication standard for legal cannabis

Despite a massive global push to legalise cannabis and legitimise the medicinal marijuana industry, the sector continues to struggle with the black market. To combat this, Sydney-based anti-counterfeit solutions provider YPB Group (ASX: YPB) has signed its first US cannabis industry client Elev8 Distribution to assist in combatting the bl...

Baby Bunting shares soar on optimistic full year results

There's been trouble brewing in the baby goods industry over the past financial year, with brands and retailers consolidating, falling into administration, and struggling to maintain relevance in an increasingly online market. Baby Bunting's (ASX: BBN) full year results tell an optimistic story of survival against the odds, with t...

Residential revenue lifts REA Group profit

A new digital home loan service offering from realestate.com.au also turned a profit, while the company's $130 million acquisition of property data specialist Hometrack Australia is forecast to boost results in the 2019 financial year.  Despite a slight decline in Australian property prices last quarter, online real estate advert...

ASX reporting wrap: Thursday 9 August highlights

Companies across several of sectors including banking, entertainment, property and energy today revealed their FY18 results. All eyes were on Suncorp in the wake of AMP's disastrous profit fall on Wednesday. Crown Resorts, Mirvac Group, Orora and AGL Energy also posted results. AGL Energy (ASX: AGL) Reaping the rewards from mu...

Crown Resorts slaps government with lawsuit as profits dive

Crown Resorts has filed a lawsuit to stop the government from obstructing the views of its new Sydney resort. The casino operator hopes its suit will stop the government from approving new developments that obstruct views from its new Sydney resort of the Sydney Opera House and the Sydney Harbour Bridge. As part of an earnings announc...

Suncorp sells life insurance arm following profit drop

Suncorp (ASX: SUN) has announced it will sell its life insurance division for $725 million on the same day it posted its full year results. The sale of the life insurance division comes after over a year of speculation. The listed Australian company has sold the division to a unit of Dai-Ichi Life Holdings for $725 million. The compan...