Kogan profits soar to $8.3 million

Kogan profits soar to $8.3 million

Kogan.com (ASX: KGN) has shown Australian retailers how it's done online and posted an $8.3 million half year profit. The e-tailer's profit rose more than fivefold to reach the massive $8.3 million mark in a time when Australian retailers are struggling to reach similar results. Profit for the six months to December 31 rose fr...

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GetSwift served notice of class action from shareholders

GetSwift served notice of class action from shareholders

Logistics software company GetSwift (ASX: GSW) is facing a class action from shareholders over allegations it has engaged in misleading and deceptive conduct and two other legal firms are also considering launching a class action.

Law firm Squire Patton Boggs has applied to commence the action in the Federal Court, while litigation funde...

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Reporting season wrap: Wednesday's highlights

Reporting season wrap: Wednesday's highlights

Wednesday was another busy day with a slew of ASX-listed companies releasing their results, with Cleanaway, Melbourne IT, Sydney Airport, AP Eagers, Megaport, Scentre, and Stockland all releasing their figures for the start of FY18. Cleanaway cleans up Cleanaway Waste Management Limited (ASX: CWY) announced all operating divisions inc...

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Corporate Travel Management growth continues on international expansion

Corporate Travel Management growth continues on international expansion

Corporate Travel Management (ASX: CTD) has reported a statutory net profit rise of 38 per cent to $30.6 million for the half year as its strategic international expansion yields positive results for the company.

The Brisbane-based company, founded by its managing director Jamie Pherous, also reported a revenue rise of 15 per cent to $172...

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Lovisa beats the retail blues ahead of global expansion

Lovisa beats the retail blues ahead of global expansion

While some Australian retail operations are stuck in a revenue and profit rut, jewellery store Lovisa (ASX: LOV) reported strong half year results to buck the industry trend. Lovisa's half year results showed revenue was up 18.9 per cent to $118.6 million and its net profit after tax rose by nearly 23 per cent to $24.8 million. Th...

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Fairfax cuts NZ titles as it announces big fall in profit

Fairfax cuts NZ titles as it announces big fall in profit

Fairfax Media (ASX: FXJ) will axe or sell 28 of its New Zealand print publications as it announced a 54 per cent fall in first half profit.

The publisher of masthead titles including the Sydney Morning Herald and The Age reported its net profit for the half year to December 24 had dropped to $38.5 million, down from $83.7 million it reco...

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Sealink acquires Fraser Island resort

Sealink acquires Fraser Island resort

Listed tourism and transport company Sealink (ASX: SLK) has announced it has acquired Kingfisher Bay Resort Group as it reported a drop in first half profit of 13.7 per cent to $11.3 million. With the half year results announement, Sealink revealed it has acquired the Fraser Island resort, which includes two resorts on the island, a coach...

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Coca-Cola Amatil lifts profit but Australia weighs on company

Coca-Cola Amatil lifts profit but Australia weighs on company

Coca-Cola Amatil (ASX: CCL) has delivered an increase of 80.9 per cent increase in annual net profit to $445.2 million with the big rise attributable to one-off writedowns from the previous year. While underlying profit and underlying earnings were down slightly, net profit was up from last year's $246.1 million when the company made ...

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Bubs Australia signs agreement with Chinese e-commerce giant

Bubs Australia signs agreement with Chinese e-commerce giant

Infant food producer Bubs Australia (ASX: BUB) has entered a direct international supply agreement with Chinese e-commerce giant JD.com. The agreement will see Bubs' entire range of infant formula, baby food and cereals, as well as the group's line of CapriLac goat milk powder sold on JD.com. The agreement is a massive coup fo...

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Blue Sky forecasts solid growth through institutional investors

Blue Sky forecasts solid growth through institutional investors

Blue Sky Alternative Investments (ASX: BLA) lifted its first half underlying profit by 59 per cent to $16.1 million as its fee-earning assets under management (AUM) rose by $1.2 billion to $3.9 billion.

The Brisbane-based funds manager also posted a rise in underlying revenue of 41 percent to $51.4 million, compared to 1H FY17, and says it is...

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Super Retail Group to acquire Macpac for $135m

Super Retail Group to acquire Macpac for $135m

Super Retail Group (ASX: SUL) has entered an agreement to acquire New Zealand outdoor brand Macpac for $135 million. The ASX listed company says it will fund the acquisition of 54 Macpac stores across Australia and New Zealand with existing debt facilities. Despite the announcement, the company reported a half yearly profit fall of th...

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McGrath names his two new directors to help turn business around

McGrath names his two new directors to help turn business around

John McGrath has revealed two new directors who will join the board of his struggling listed real estate business McGrath (ASX: MEA) with Peter Lewis and Andrew Robinson tasked with the job of turning the company around.

Lewis is Kerry Stokes's former chief financial officer and he will be the new chairman. Lewis is also a former CFO...

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John McGrath to become 'hands on' as he gets set to announce new board

John McGrath to become 'hands on' as he gets set to announce new board

John McGrath is reportedly going to abandon plans to become the executive chairman of his struggling listed real estate business McGrath (ASX: MEA) as he prepares to unveil his two new directors who will sit on the board.

Last month the 54-yer-old McGrath announced to the ASX that he would lead the company with the entire board, except h...

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Reporting season wrap: Monday's highlights

Reporting season wrap: Monday's highlights

Monday was a big day for listed companies, with Domain, oOh!media, Brambles, SEEK, NIB, InvoCare, GWA Group, Cash Converters, Perpetual, Infigen, and Argo all reporting. Domain reports loss following Fairfax spin-off Domain Holding's (ASX: DHG) first-half underlying profit has slipped 8.1 per cent to $24.7 million, dragged down by...

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GetSwift shares plunge more than 50 per cent after trading halt

GetSwift shares plunge more than 50 per cent after trading halt

Shares in GetSwift (ASX: GSW) have been pummelled by more than 50 per cent after the company came out of a near month-long trading halt as it faced ASX enquiries about media reports it breached its continuous disclosure obligations on several occasions.

At the market open on Monday, GSW shares plunged 57 per cent from $2.92 to $1.25 as invest...

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Cann Group to scale up production after being granted two new licences

Cann Group to scale up production after being granted two new licences

Medicinal cannabis producers Cann Group (ASX: CAN) will scale up production through 2018 now that it has been granted two new licences by the Office of Drug Control (ODC). The ODC granted the listed cannabis grower two new licenses for the cultivation and production of cannabis for research and medicinal purposes. The company says it ...

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John McGrath shuts down speculation about using company money to fund gambling habit

John McGrath shuts down speculation about using company money to fund gambling habit

Controversy surrounding McGrath Real Estate (ASX: MEA) founder John McGrath's alleged $16 million gambling debt has been addressed by McGrath himself in a letter to the ASX. The statement, released to the ASX by McGrath Real Estate, sees McGrath denying the claim that he has been using company money to fund his expensive gambling habi...

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Star Entertainment reports massive profit slump ahead of major project unveilings

Star Entertainment reports massive profit slump ahead of major project unveilings

Star Entertainment (ASX: SGR) has seen its profits slump by 76.8 per cent as it prepares to launch key projects in Queensland and New South Wales. The group's first-half profit dropped by 76.8 per cent to $32.9 million, weighed down by $32 million in significant items and an abnormally low win rate in the international VIP rebate busi...

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Baby Bunting suffers significant first-half profit drop from "aggressive discounting"

Baby Bunting suffers significant first-half profit drop from "aggressive discounting"

Severe discounts applied to Baby Bunting's (ASX: BBN) core product line has resulted in the retailer posting a significant half-year profit drop. The listed retailer posted a $3.48 million net profit during the first six months of FY18, down a third on the prior corresponding period's $5.22 million profit. The company's ch...

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The Brisbane entrepreneurs who cut through US red tape to develop medical devices

The Brisbane entrepreneurs who cut through US red tape to develop medical devices

A Brisbane medical innovation start-up is revolutionising medical product development in Australia and the US by creating their latest product from concept to US FDA approval at two and a half times faster and 65 times cheaper than the US average timeframe and cost to develop a medical device.

Orthopaedic innovation and devices company F...

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