Premier Investments bucks retail slump with record sales

Premier Investments bucks retail slump with record sales

Premier Investments (ASX: PMV) notched outstanding retail sales results in FY18 with a solid contribution from online, but a revaluation of one of its brands ultimately drove profits southward. Taking stock of an increasingly competitive apparel retail sector in Australia and New Zealand, an impairment expense of $30 million for Just...

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The Agency set to acquire Top Level on $13.4m capital raising

The Agency set to acquire Top Level on $13.4m capital raising

The Agency Group (ASX: AU1) is going ahead with its acquisition of Top Level Real Estate, after securing $13.4 million in new equity. The Agency emerged from a trading halt this morning to announce that it will acquire the fast-growing Sydney firm upon raising $8.4 million from a share placement and $5 million from converting Top Level...

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Dover Financial director taken to court for misleading clients

Dover Financial director taken to court for misleading clients

Terry McMaster (pictured) famously collapsed during a royal commission hearing in April. His company, Dover Financial Advisors, followed suit only weeks later after turning in its financial advisory license to the Australian Securities and Investments Commission (ASIC) as part of an enforceable undertaking. Now, the watchdog has commenced...

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Aged care providers tank in wake of royal commission announcement

Aged care providers tank in wake of royal commission announcement

After Prime Minister Scott Morrison announced a royal commission into Australia's aged care system the preeminent providers of the service on the ASX saw their shares take a tumble. At 12.20pm AEST Aveo is down 4.28 per cent to $2.16, Estia is down 18.3 per cent to $2.41 per share, Japara is down 14 per cent to $1.44, and Regis Health...

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ANTG forms partnership to export Aussie cannabis to Germany

ANTG forms partnership to export Aussie cannabis to Germany

As the global cannabis market continues to expand at a serious pace, Aussie cannabis companies are reaching out globally to form a powerhouse export market. Australian Natural Therapeutics Group (ANTG)  has recently announced a partnership that will allow it to export its cannabis for German patients. In partnership with Cannamed...

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ASIC to take second bite of the pie in ANZ cartel scandal

ASIC to take second bite of the pie in ANZ cartel scandal

Back in June, ANZ, Citigroup, and Deutsche Bank got caught up in a widely publicised scandal relating to alleged criminal cartel charges. The Australian Securities and Investments Commission laid charges against the banks and several senior personnel from each of the financial institutions. Today, ASIC has once again gone after ANZ fo...

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Confidence in crisis: Overcoming collateral damage after strawberry needle disaster

Confidence in crisis: Overcoming collateral damage after strawberry needle disaster

The Scurr family and their company Piñata Farms have invested substantial sums to develop some of Australia's most advanced strawberry operations, including high-tech hydroponic substrate farming, new varieties and even metal detectors in the packhouse. But the latter was done to avoid stray rocks or jewellery, not needles like...

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Step down or face shareholder revolt, Solomon Lew urges Myer chairman

Step down or face shareholder revolt, Solomon Lew urges Myer chairman

Myer's (ASX: MYR) leading shareholder has demanded chairman Garry Hounsell "step down immediately" after the retailer reported a net loss in FY18 that is almost $130 million larger than its market capitalisation. Premier Investments Limited has been consistently railing against the Myer board's decisions over the past ye...

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Another "disappointing" result for Myer as profits slide

Another "disappointing" result for Myer as profits slide

"These results are obviously disappointing and shareholders deserve better," says Myer CEO John King. One of Australia's biggest retail brands has reported a 52 per cent plunge in profit for a financial year marked by shareholder indignation at a disappointing discount program that failed to deliver results. The bottom l...

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AusCann lists on US stock exchange to boost international operations

AusCann lists on US stock exchange to boost international operations

One of Australia's leading listed cannabis companies has jumped across the Pacific to list on one of America's leading stock exchanges. AusCann Group (ASX: AC8) has commenced trading on the US OTCQX Market under the stock symbol ACNNF. The OTCQX is an investor-focused US market featuring US and global companies. To qualify for...

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Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon is launching a full-on assault on Australia's financial institutions in a campaign to secure more than one billion dollars in super from the banks. Their campaign is called Get Your Super Back and it is shaping up to be an intensive, lengthy, and expensive battle. "Slater and Gordon will take on the banks on...

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Yellow Brick Road rejects takeover, talks up bidding war

Yellow Brick Road rejects takeover, talks up bidding war

Financial services group Yellow Brick Road (ASX:YBR) has urged shareholders to reject a $25.4 million takeover bid by corporate raider Sir Ron Brierley, while indicating that a potential bidding war could be on the horizon for the company. In a letter to shareholders, the Mark Bouris-led group argues that the offer from Mercantile Investm...

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Zelda secures partnership to crack the German medicinal cannabis market

Zelda secures partnership to crack the German medicinal cannabis market

With the medicinal cannabis movement expanding globally, Australian pharmaceutical group Zelda Therapeutics (ASX: ZLD) are riding the wave not just at home but abroad too. On Tuesday, the company announced a partnership with German medicinal cannabis company HAPA Medical that provides HAPA with first rights to distribute and manufacture Z...

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CannPal steps up testing of cannabis drug for pets

CannPal steps up testing of cannabis drug for pets

After successfully testing its cannabis-derived pain formulation on a group of Beagles and Foxhounds, CannPal Animal Therapeutics (ASX:CP1) has begun a new phase of its study into determining safe dosages for pets. CannPal declared the Phase 1A pharmacokinetic and safety study for the CPAT-01D formula a success after testing of 11 dogs sh...

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The Agency yet to turn a profit after doubling revenue

The Agency yet to turn a profit after doubling revenue

A solid pace of real estate agent recruitments and acquisitions has led to a near doubling of sales revenue for The Agency (ASX:AU1), but one-off set up costs continue to impact the tearaway group which posted a marginally higher bottom-line loss for FY18. The Agency, formed two years ago by a handful of McGrath's (ASX:MEA) top agents...

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Retail Food Group tops off horror year with $306m loss

Retail Food Group tops off horror year with $306m loss

Embattled franchise operator Retail Food Group (ASX:RFG) capped off a horror year by posting a $306.7 million bottom-line loss and revealing it remains at 'significant risk' of breaching debt covenants over the next 12 months.

The loss, the first time the Gold Coast-based company has plunged into the red in any financial year as ...

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TPG, Vodafone agree to form $15b telco powerhouse

TPG, Vodafone agree to form $15b telco powerhouse

TPG Telecom (ASX: TPG) and Vodafone Hutchison Australia (VHA) are set to join forces after agreeing to a merger that would create a fully integrated telecommunications operator with an enterprise value of $15 billion. In an announcement to the Australian Stock Exchange this morning, the companies said the proposed deal would create a &quo...

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Slater and Gordon on the long road to recovery

Slater and Gordon on the long road to recovery

Slater and Gordon (ASX: SGH) continues to cut its losses on the long claw back from the $1 billion hit it sustained at the hands of a disastrous acquisition in the United Kingdom over two years ago. The Melbourne-headquartered law firm today posted its first profit since the botched acquisition of UK business Quindell in 2015 which result...

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Aussie game developer plays into landmark acquisition

Aussie game developer plays into landmark acquisition

Listed mobile game developer Animoca Brands (ASX: AB1) has acquired US-based developer Pixowl for $6.65 million. Pixowl is an independent mobile game company with a portfolio that includes games like The Sandbox, Peanuts: Snoopy's Town Tale, Garfield: Survival of the Fattest, and Goosebumps HorrorTown. The deal saw Animoca put up ...

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Adairs lounging comfortably on record profits and sales

Adairs lounging comfortably on record profits and sales

Home furnishings group Adairs (ASX: ARH) is back on track at the end of FY18, posting record results following a year of strong online performance and new store additions. The company lifted sales by 18.8 per cent to $314.8 million on the back of opening eight new stores, upsizing five existing stores and refurbishing one. Gross profi...

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Murray Goulburn posts another loss in the midst of class actions

Murray Goulburn posts another loss in the midst of class actions

Dairy producers Murray Goulburn (ASX: MGC) have reported another full year loss as it struggles with three legal battles. Whilst the group's loss was less than FY17, up from a loss of $370.8 million to $45.9 million in FY18, the company has been generating far less revenue. The company says the results reflect the cessation of its...

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Afterpay raises $117m to bolster overseas operations

Afterpay raises $117m to bolster overseas operations

Following its bumper FY18 results announced on Thursday, Afterpay (ASX: AFT) has confirmed it has raised $117 million to push its operations overseas. As reported on Thursday, Afterpay has set its sights on the UK market and will continue its push in the US. The fintech says the $117 million will go towards funding the group's amb...

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Afterpay makes first steps into the UK as its global domination continues

Afterpay makes first steps into the UK as its global domination continues

One of the most exciting companies on the ASX, Afterpay Touch Group (ASX: AFT), has announced its latest global play to begin operating in the UK. Afterpay will launch in the UK, the world's third largest e-commerce market, in the next six months. It's expansion into the UK is underpinned by a strategic acquisition of a local ...

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International expansion boosts Lovisa results as it prepares to go online

International expansion boosts Lovisa results as it prepares to go online

Australian jewellery retailer Lovisa (ASX: LOV) made a significant push overseas in FY18, boosting its results as an effect. Revenue was up 21.4 per cent to $217 million and NPAT was also up 23.8 per cent to $36 million. The retailer, still operating entirely as a bricks and mortar outlet, says its international expansion was a key dr...

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Bouris criticises "opportunistic" Yellow Brick Road takeover bid

Bouris criticises "opportunistic" Yellow Brick Road takeover bid

Mercantile OFM, a subsidiary of Mercantile Investment Company (ASX: MVT), has launched an off-market takeover bid for wealth management company Yellow Brick Road (ASX: YBR) at a cash price of $0.09 per share. The unsolicited offer represents a 3.2 per cent discount to YBR's most recent closing price of $0.093 and YBR executive chairma...

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Ansell triples profit after selling condom business

Ansell triples profit after selling condom business

Bolstered by a US$343 million (AUD$469.9 million) gain on the sale of its condom business to a Chinese consortium earlier in the financial year, Ansell's (ASX: ANN) net profit has more than tripled to $662.4 million. The company's underlying profit after tax rose 16 per cent to US$138.8 million, while total sales dropped 0.8 per c...

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Kogan.com doubles earnings for FY18 despite rocky year

Kogan.com doubles earnings for FY18 despite rocky year

Online retailer Kogan.com (ASX: KGN) has come out on top despite a tough12 months as its earnings surge for the third year in a row. The e-retail company has posted revenue of $412.3 million, up 42 per cent year-on-year reflecting growth across all product divisions and driven in part by a 45 per cent uplift in Kogan's number of activ...

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Beacon to roll out voice-controlled lighting

Beacon to roll out voice-controlled lighting

Beacon Lighting (ASX: BLX) chief executive officer Glen Robinson expects to "generate some excitement" in the near future with a roll-out of automated products including voice-activated globes across the retailer's 109 Australian stores. "That's a reasonably big shift and we feel comfortable now that the techno...

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Catapult kicks partnership goals to grow revenue and reach

Catapult kicks partnership goals to grow revenue and reach

Sports technology developer Catapult Group International (ASX: CAT) has recorded a $17.3 million net loss after tax for FY18, as the group continues trying to keep down travel and labour costs as it rolls out new technologies and garners new high-profile domestic and international elite clients.  The company has posted a 26 per cent ...

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AusCann cannabinoid medicines one step closer to market

AusCann cannabinoid medicines one step closer to market

AusCann's (ASX: AC8) long awaited medical cannabis product is on its way to pharmacy shelves following the completion of an important medical trial. The listed cannabis company has now announced a successful pilot study of an optimal final dose form for its cannabinoid medicines. This clinical study has been ongoing for the last 1...

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