Coffee, bakery and pizza franchise player Retail Food Group's expansion overseas and its newly acquired food distribution business have boosted its annual profit.The owner of Gloria Jean's, Donut King and Crust made a net profit of $61.
The company reported net profit of $48 million for the year to June 30, up from a $159 million net loss last year, while revenue for the year rose 11 per cent to $871 million.Net operating cash flow grew by $123 million as a result of higher sales pricing, an increased proportion of higher-margin iron ore lump product in the sales mix, and operational efficiencies, the company said.
Fewer new apartments were sold in Australia in July, contributing to a slide in all new home sales in the month.A 15.
The consumer watchdog says it proposes allowing the use of Woolworths fuel discounts at BP petrol stations if the energy company is successful in buying the supermarket giant's service sites.The Australian Competition and Consumer Commission on Tuesday said it had issued a draft decision allowing BP service stations to participate in Woolworths' Rewards Loyalty Program and accept shopper dockets, as it will likely result in 'some public benefits'.
NSW electricity distributor Ausgrid is seeking help from the Fair Work Commission to transfer 20 IT jobs to India.Unions are furious at Ausgrid's plan to move the jobs from its Geographic Information System section, which maps the electricity network, to India and has banned members from training the Indian workers.
Housing affordability is likely to be an issue for at least 40 years, with the demand for new homes needing bold policy, a major new report says.The report by the Committee for Economic Development of Australia, to be released on Tuesday, says policy needs to understand the great Australian dream of owning your own home is over for many people.
Telstra's plan to pay down debt and create new shareholder returns by monetising the receipts from the national broadband network has been shunned by the rollout company nbnco which says it will not support the scheme.The giant telco announced at its full-year results on August 17 that it wanted to create an investable product based on the future income stream it gets from NBN compensation and access payments.
Hundreds of employees have been made redundant or told to stand down at a Darling Downs construction company.The Dalby-based Ostwald Bros was placed into administration on Monday, with 260 redundancies announced on Wednesday and 140 asked to stand down pending the outcome of discussions with contractors.
The call by consumer group Choice comes after a study of 1051 complaints from Australia, New Zealand and Britain ticket buyers found three quarters of them thought they had bought their tickets from an official online seller rather than a resale website.Many people who use resale sites end up being turned away from events because venues automatically cancel their tickets.
Building materials maker Boral expects Australia's property market to ease this financial year but predicts strong growth on the back of a wave of major infrastructure projects.8 per cent per cent to $4.
The competition watchdog's proceedings against Medibank for allegedly misleading customers over changes to benefits has been dismissed by the Federal Court.The Australian Competition and Consumer Commission launched the case in June 2016, accusing Medibank of unconscionable conduct, and deliberately failing to notify its members and members of its ahm subsidiary about new limits on pathology and radiology benefits that kicked in from September 2014.
Online travel booking business Webjet has more than doubled its full-year profit to $52.4 million, helped by strong bookings growth and integration of its Online Republic acquisition.
5 million in payroll tax by being given charitable status.The Supreme Court on Thursday ruled against Business SA's appeal over a decision of the Commissioner of State Taxation.
The provider of trauma counsellors for sexual assault and domestic violence hotline 1800RESPECT has dropped a contract with the service due to concerns over a new operating model.RDVSA announced it would not be accepting a new contact offered by Medibank Health Solutions (MHS) this month over concerns of new requirements.
9 million on the back of growth in admissions and procedural volumes across the company's Australian business.The country's largest private hospital operator said revenue from services for the year to June 30 grew marginally, up 0.
Weak consumer spending and an outmoded bikini range in Australia has weighed on surfwear retailer and wholesaler Billabong's annual earnings, the group's chief executive Neil Fiske says.The group's $51.