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Gold Coast Business News

Noni B proves Australian retail isn't dead with bumper financial year

Noni B proves Australian retail isn't dead with bumper financial year

A common theme of FY18 was Australian retailers complaining about how tough the year has been. But Noni B (ASX: NBL) has proved the industry wrong, issuing a bumper trading update for the 2018 financial year. Over FY18, Noni B saw like-for-like sales grow by 4.5 per cent and total sales grow to approximately $365 million. Instead ...

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Darrel Lea satisfies sweet tooth with Life Savers

Darrel Lea satisfies sweet tooth with Life Savers

Private-equity group Quadrant has sweetened the pot for confectionery brand Darrel Lea by acquiring the rights to the iconic Life Savers brand in Australia and New Zealand The purchase from Nestle will see the manufacture of Life Savers for the region move from New Zealand to Australia where they were last produced in the early 2000s. ...

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Village Roadshow's $51 million capital raising to aid recovery from Dreamworld disaster

Village Roadshow's $51 million capital raising to aid recovery from Dreamworld disaster

It's been a big few weeks for Australian entertainment company Village Roadshow (ASX: VRL). The company, behind some of Australia's biggest theme parks, cinemas, and bowling alleys, announced on Thursday morning the completion of the institutional component of its entitlement offer. The institutional component raised gross pro...

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Emanuel Exports' affiliate has export licence suspended

Emanuel Exports' affiliate has export licence suspended

A second live export company, closely affiliated with the company behind the tragic Awassi Express voyage, has had its export licence suspended. EMS Rural Exports has been denied a permit to ship the sheep to the Middle East, following considerable outrage from the public, press, and interested animal rights organisations. The suspens...

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"Bullshit": despite suspension, Emanuel Exports continues with live export of sheep

"Bullshit": despite suspension, Emanuel Exports continues with live export of sheep

Emanuel Exports has found a loophole to continue exporting live sheep from Australia despite its licence being suspended. The company behind the Awassi Express shipment that captured the nation's attention and spurred on significant national protest is attempting to use an associated company to send another load of sheep to the Middle...

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THC's acquisition adds $16m to balance sheet

THC's acquisition adds $16m to balance sheet

THC's (ASX: THC) recent acquisition of a Southport manufacturing facility has added $16.8 million to the company's balance sheet, developing a clear path for the listed company becoming a dominating player in the medicinal cannabis industry. The Hydroponics Company acquired the Southport facility in April 2018, which included a ph...

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National Vet Care hit on the snout after downgrade

National Vet Care hit on the snout after downgrade

Investors have given National Veterinary Care (ASX:NVL) a sharp smack on the nose after it revealed earnings would fall below expectations in FY18. The Gold Coast-based veterinary surgery operator says softer trading conditions in May and June have impacted the result, as have longer than expected settlements of previously announced acqui...

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How James Spenceley decides on what startups to invest in

How James Spenceley decides on what startups to invest in

His Midas touch has launched Vocus Group into a listed company and transformed Airtasker from a startup to a national phenomenon, but how does James Spenceley decide on what to invest in? Spenceley's latest investment is a $1 million injection into Integrated Green Energy Solutions (ASX: IGE) as they ramp up production of their eco-fr...

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Eco-friendly startups take centre stage on Shark Tank this season

Eco-friendly startups take centre stage on Shark Tank this season

If there was a single key theme running through this year's season of Shark Tank it would be a sharp focus on businesses that are doing something good for the environment. This year we've seen entrepreneurs pitching eco-friendly nappies, and just last night, a green alternative to storing vegetables in the crisper. The Sharks ...

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Michael Hill's US operations take a final dive

Michael Hill's US operations take a final dive

Following the completion of its exit from the US market, Michael Hill's US offering fell 28.5 per cent in the 12 months to June 30 2018. The jewellery retailer planned to exit the market earlier in 2018 after failing to secure a buyer for its operations in the US. The total revenue from its operations in the US in FY18 was $11.5 m...

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Village Roadshow in a world of pain with theme parks

Village Roadshow in a world of pain with theme parks

Village Roadshow (ASX:VRL) remains in a world of pain due to its struggling theme park operations, prompting the company to write down the value of its Gold Coast tourism assets by $95 million. The writedown is part of $166 million in total impairments to be included in the FY18 financial results, with $25 million of that attributed to th...

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Surfers gets into the Spirit to lure the 'super rich'

Surfers gets into the Spirit to lure the 'super rich'

IT'S the largest single residential tower ever undertaken on the Gold Coast, poised to add 479 premium-priced apartments to central Surfers Paradise, but the Chinese developer sees no issue in finding buyers with deep pockets. Beijing-based Foriseland has officially launched the $1.2 billion Spirit project, an 89-level mixed-use devel...

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Meet the duo crushing sales stereotypes, redefining a global industry

Meet the duo crushing sales stereotypes, redefining a global industry

When people hear the word 'sales', they're inclined to think of cheesy people in fancy suits with the 'gift of the gab' that will do just about anything to push a product. Whether warranted or not, there is a certain stigma attached to salespeople who have been tempered by decades of high-pressure sales tactics, told t...

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Former RFG CEO accused of using franchisee to hide lossmaking stores

Former RFG CEO accused of using franchisee to hide lossmaking stores

The ex-chief executive officer of disgraced food franchise operator Retail Food Group (ASX: RFG) has been accused of using a Brumby's franchise owner to hide loss-making stores. During the parliamentary inquiry into franchising in Australia, Baden Burke, the former owner of a Brumby's Bakery, claimed Tony Alford "groomed&quot...

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AusCann raises $33.4 million to fund cannabis R&D

AusCann raises $33.4 million to fund cannabis R&D

Listed cannabis company AusCann (ASX: AC8) has emerged from a trading halt this morning to reveal a $33.4 million capital raising which is set to fund the company's new phase of research and development (R&D). The share placement was made to North American and Australian investors including existing shareholder Canopy Growth Corpo...

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Virgin shareholder chair dies during business trip to France

Virgin shareholder chair dies during business trip to France

Wang Jian, 57, the co-chair of a Chinese company that owns a 20 per cent stake in Virgin Australia, has died in an accident during a business trip to France. Wang apparently fell from a wall while posing for a photograph in the village of Bonnieux, near Avignon. Lieutenant-colonel Hubert Meriaux of the Vaucluse gendarmerie force told ...

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Ola's new Australian managing director on how the company plans to beat Uber

Ola's new Australian managing director on how the company plans to beat Uber

The ride-sharing market in Australia is predominately dominated by Uber, but that's set to change if Simon Smith (pictured), the new Australian managing director of Ola, has his way. Ola, an India based ride-sharing company, which launched in Australia in January, is hoping to take on Uber and Taxify the two major players in the Austr...

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Sunland's latest Melbourne acquisition to support $100 million development

Sunland's latest Melbourne acquisition to support $100 million development

Sunland Group (ASX: SDG) has snapped up a prime site south-east of the Melbourne CBD, earmarking the location for a development end-valued at $100 million. The Gold Coast property developer acquired the 5.1-hectare site in Carrum Downs for $13 million and unveiled plans to turn the area into a community comprised of 185 terrace homes. ...

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Meet the sales rep that's on your mobile 24/7

Meet the sales rep that's on your mobile 24/7

When it comes to sales, there's one space everyone can access that has been underutilised and neglected for far too long. That is until Ad On Mobile developed an innovative solution that turns your mobile phone into a 24/7 sales rep. Paul Harding and Peter Bailey, along with their team at Ad On Mobile, have developed a suite of pro...

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Village Roadshow sells Sydney Wet'n'Wild for $40m

Village Roadshow sells Sydney Wet'n'Wild for $40m

Village Roadshow's (ASX:VRL) appetite for the theme park sector appears to be waning with news this morning that it has found a buyer for Wet'n'Wild Water Park in Sydney. The business, which is still suffering from the impact of the Dreamworld tragedy and is set to deliver FY18 earnings below the previous year's results, h...

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Creso Pharma launches product into New Zealand

Creso Pharma launches product into New Zealand

Listed cannabis company Creso Pharma is set to launch its chronic pain product into the New Zealand market after signing an agreement with a key distributor. Creso will introduce its cannaQIX 50 product in New Zealand, a cannabidiol lozenge designed to support the management of chronic pain. Dr Miri Halperin Wernli, Creso CEO and co-f...

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Ardent Leisure announces major Dreamworld management overhaul

Ardent Leisure announces major Dreamworld management overhaul

After a fortnight of damning evidence into the tragic deaths of four Dreamworld attendees in 2016 the CEO of the theme park has resigned. The parent company of Dreamworld, Ardent Leisure, has also announced a major restructure of the management of its troubled theme park on the Gold Coast. Craig Davidson, the now former-CEO of Dreamwo...

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How to take risks and be a brilliant CEO

How to take risks and be a brilliant CEO

In August 1987, my father, a small business entrepreneur, arrived home after work, and announced that we were moving to Australia. This announcement served as my first exposure to risk management from an entrepreneur's perspective. My father was regarded as crazy for uprooting the family and leaving apartheid South Africa Why put ...

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It's all over red rover for Dover following ASIC undertaking

It's all over red rover for Dover following ASIC undertaking

Dover Financial Services will turn in its financial advisory licence at the end of next week, as an Australian Securities and Investment Commission (ASIC) investigation into the company's 'systematic failings' is ongoing. The financial services company, which was also subject to a Royal Commission grilling earlier this month, ...

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Frosty Boy melts the icy Indian export market

Frosty Boy melts the icy Indian export market

Gold Coast dessert icon Frosty Boy has launched in India following a four-year campaign to get its product in the country which, according to the company, is a notoriously hard market to crack. The company announced it has established manufacturing channels in India to sidestep the country's onerous import duties of up to 50 per cent....

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Landmark lease ushers in new era for Gold Coast startups

Landmark lease ushers in new era for Gold Coast startups

The Gold Coast Innovation Hub (GCIH) has moved into Robina's newly refurbished The PC, marking the city's largest lease deal in the past 12 months. The PC is owned by master developer Robina Group and fully tenanted following its latest deal with the startup incubator. GCIH has secured the remaining 1,822sqm of The PC office s...

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Air NZ penalised $15 million for price fixing charge

Air NZ penalised $15 million for price fixing charge

The Australian Federal Court has penalised Air New Zealand (Air NZ) with a $15 million fine after the ACCC took legal action against a global air cargo cartel. The Court found Air NZ made and gave effect to agreements with other airlines to fix the price of fuel and insurance surcharges on air freight services from Hong Kong, and insuranc...

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Funtastic hit hard by Toys R Us closures

Funtastic hit hard by Toys R Us closures

During the first half of 2018, Funtastic (ASX: FUN) was flying high on improved profits, but the toy manufacturer is now singing a different tune in the wake of Toys R Us' nationwide demise. Toys R Us is Funtastic's fourth largest retail trading partner which announced in May this year that it had fallen into voluntary administrat...

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Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland Group (ASX: SDG) has added a 3.26-hectare site in Kenmore to its portfolio, a $13.1 million acquisition that the company says will boost its presence within a high-growth area. The development site encompasses several addresses on Moggill Road and Wyndarra Street and has been approved for 96 terrace homes with an estimated end val...

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Why BlockGrain could be one of the first real world successes of blockchain technology

Why BlockGrain could be one of the first real world successes of blockchain technology

The promise of blockchain has so far gone unfulfilled. Though it is still early days, the world-changing, transformative potential of blockchain tech is still simmering under the surface. However, as developers and entrepreneurs begin to grapple with the technology and understand its potential new businesses are beginning to emerge and ch...

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