Brisbane Articles

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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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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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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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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EXCLUSIVE INTERVIEW: Sterling success for Michael Hill after 40 years

EXCLUSIVE INTERVIEW: Sterling success for Michael Hill after 40 years

Michael Hill was a late bloomer in the world of business and for the last 40 years he's been making up for lost time. Now with more than 300 stores across Australia, New Zealand and Canada, it is hard to believe the man whose name is so synonymous with jewellery was once apprehensive to start a business. Hill comes from a lon...

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Super Retail Group's proactive approach pays off

Super Retail Group's proactive approach pays off

A tough retail industry has claimed its fair share of victims over the past few years, but Super Retail Group (ASX: SUL) appears to be standing head and shoulders above the mire. The company behind popular brands Supercheap Auto, Rebel, BCF and Macpac experienced steady and consistent growth throughout FY19. Group sales rose 5.4 per c...

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Vicinity axes plans for property fund on 72 per cent profit drop

Vicinity axes plans for property fund on 72 per cent profit drop

Impacted by a year of heavy divestments and a "challenging retail environment", Vicinity Group's (ASX: VCD) profit has dropped almost 72 per cent. The shopping centre giant reported a net profit after tax of $346.1 million, down from an FY18 result of $1.218 billion. Managing director and CEO Grant Kelley admits the weak...

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ACCC flags concrete plans to tackle digital media giants' power imbalance

ACCC flags concrete plans to tackle digital media giants' power imbalance

The Australian Competition and Consumer Commission (ACCC) has delved deeper into the type of regulatory codes that could be used to tackle the distortionary power of digital platforms like Facebook and Google.   Following the regulator's recent report into the out-of-control growth and dominance of these companies ...

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Aussie camel milk skincare products selected for Amazon Launchpad

Aussie camel milk skincare products selected for Amazon Launchpad

Summer Land Camels joins the likes of Sydney-based Nexba and VITAMAN, Byron Bay's Salt Gypsy, Melbourne's SODA and Lyre's in Amazon's initiative for homegrown innovative products.  Amazon Australia has selected a Queensland-based camel milk skincare product line for its Launchpad program to help startup...

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Acquisitions lift Centuria real estate asset values by 33%

Acquisitions lift Centuria real estate asset values by 33%

Centuria Capital Group (ASX: CNI) expects to qualify for the S&P ASX 300 index this quarter after an acquisition drive helped lift its market capitalisation in FY19. The Sydney-based company's share price has risen 62 per cent since the start of the year with leadership holding a bullish outlook for the office, industrial and heal...

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Market darling Magellan sails through troubled markets with stellar result

Market darling Magellan sails through troubled markets with stellar result

Investor optimism has added $6.5 billion to Magellan Financial Group's (ASX: MFG) market capitalisation since February, and today the Sydney-based investment fund returned the favour. The company has reported a 35 per cent lift in net profit after tax (NPAT) to $364.2 million in FY19, and is giving some of that back to shareholders th...

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Banks vs Small Business Lenders in Australia: Who Shall Prevail?

Banks vs Small Business Lenders in Australia: Who Shall Prevail?

Times are brutally tough for SMEs in Australia. Ever since the Royal Commission into Misconduct in the Financial Services Industry tabled its report, bank financing has all but dried up. This situation has put small business owners in a difficult spot; without access to credit, companies put expansion plans on hold. When gaps in cash ...

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MOQ to acquire Wardy IT Solutions

MOQ to acquire Wardy IT Solutions

Sydney-based cloud tech investor MOQ (ASX: MOQ) has entered a binding agreement to acquire data analytics and training specialist Wardy IT Solutions. The deal includes an upfront purchase price of $7.5 million for cash and shares along with a potential earn-out of up to $6 million. Founded in Brisbane by Peter Ward (pictured) in ...

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Macquarie Media agrees to sell to Nine at discount

Macquarie Media agrees to sell to Nine at discount

The board of one of Australia's largest radio companies is in favour of selling off almost half its shares to Nine Entertainment (ASX: NEC) at a 16 per cent discount to the previous share price. This morning Nine offered to buy the remaining 45.5 per cent stake it doesn't own in Macquarie Media (ASX: MRN) - broadcaster of such sta...

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NSW watchdog to probe Packer's sale of Crown shares

NSW watchdog to probe Packer's sale of Crown shares

On 31 May, James Packer's CPH Crown Holdings sold $1.76 billion worth of shares in Crown Resorts (ASX: CWN) to Hong Kong-based casino operator Melco Resorts, a company headed by Packer's former business partner Lawrence Ho. Lawrence Ho is the son of Macau's most influential casino magnate Stanley Ho, who held a government-gran...

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Rural Funds gives "zero clarity" to shareholders, claims Bonitas

Rural Funds gives "zero clarity" to shareholders, claims Bonitas

Bonitas Research has criticised Rural Funds Group's (ASX: RFF) "we will not disclose" response to requests for its commercial lease agreements, with the US short seller standing by its allegations the agricultural land fund fabricated rental income. The company's shares plunged 43 per cent on Tuesday after Bonitas accuse...

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Nick Scali shares rise despite flat same-store sales

Nick Scali shares rise despite flat same-store sales

Investors were encouraged by the performance of Nick Scali (ASX: NCK) today as shares in the furniture retailer pushed 8 per cent higher, with managing director Anthony Scali describing the record result as "satisfactory". The group notched its seventh straight year of record profit, up 2.8 per cent year-on-year at $42.1 million...

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Rural Funds founder: "I will be buying shares"

Rural Funds founder: "I will be buying shares"

The board of beseiged farmland owner Rural Funds (ASX: RFF) has adopted a strategy to deliberately "lack detailed explanation" in its immediate response to financial irregularity allegations from US short seller Bonitas Research.  In early trading RFF shares were up almost 33 per cent at $1.80, but still well shy of the $2....

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Tritium electrified on $30 million raise

Tritium electrified on $30 million raise

Brisbane-based electric vehicle (EV) charger developer Tritium is positioned to raise $30 million to support its fast-growing customer base. The raise will allow for increased production to meet its ever-growing collection of customers. The company has already exported over 3,000 DC fast, high-powered chargers to more than 30 countries an...

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Record profit takes Alliance to new heights

Record profit takes Alliance to new heights

Alliance Aviation Services (ASX: AQZ) felt the wind beneath its wings this past financial year. The charter flight company favoured by Aussie fly-in fly-out (FIFO) workers reported a FY19 record profit of $32.8 million, an impressive 25.7 per cent lift on FY18. More than 38,000 flying hours across a fleet of 38 aircraft also supported...

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Business News Australia cracks 100,000 unique visitors mark

Business News Australia cracks 100,000 unique visitors mark

Business News Australia has bucked the trend of a challenging media environment with staggering organic growth in readership rates over the past year. Driven by a Millennial-majority demographic, the most recent data shows our independent news site reached 101,000 visits. This represents a staggering year-on-year growth of 84 per cent...

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Rural Funds hits back at short seller Bonitas

Rural Funds hits back at short seller Bonitas

Australia's most experienced agricultural fund manager has entirely rejected claims made by a Texas-based short seller whose report into the company sent its shares into freefall yesterday. Bonitas Research, an entity set up by Glaucus Research founder Matthew Wiechert who was responsible for similar attacks that prompted the dow...

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One for the road: CEO resigns at Australia's largest pub property group

One for the road: CEO resigns at Australia's largest pub property group

The owner of Australia's largest portfolio of freehold pub properties will say cheers to its longstanding CEO after 16 years in the job. ALE Property Group (ASX: LEP) announced today its CEO and managing director Andrew Wilkinson will be stepping down to pursue new executive challenges. The executive has overseen a growth in ALE...

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CommBank will take on Afterpay in buy-now pay-later market

CommBank will take on Afterpay in buy-now pay-later market

Australia's largest bank is moving with the times in a financial market where buy-now pay-later (BNPL) companies like Afterpay (ASX: APT) and Zip Co (ASX: Z1P) have gained traction with consumers and investors alike. In its results announcement today, Commonwealth Bank (ASX: CBA) announced it had signed an agreement with Swedish onlin...

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Suncorp investors get $506m gift from Australian Life Insurance sale

Suncorp investors get $506m gift from Australian Life Insurance sale

The loss incurred from the sale of its Australian Life Insurance business was the main reason why Suncorp's (ASX: SUN) profit plummeted in FY19, but shareholders will be rewarded for their patience with a generous payout. Within months of the resignation of CEO Michael Cameron, the Brisbane-based company posted a net profit after...

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Medicinal cannabis industry welcomes extended government support

Medicinal cannabis industry welcomes extended government support

The Federal Government has promised to support major medicinal cannabis projects to the delight of the sector. Under the plan, medicinal cannabis projects that have been granted major project status (MPS) will be given priority to receive medicinal cannabis licences through the Office of Drug Control (ODC). MPS is granted by the depar...

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