Vocus profits up 461 per cent after merger
Telecommunications company Vocus is taking a breather after a flurry of mergers and acquisitions in the past year drove its profit 461 per cent higher to $102 million in 2015-16.Vocus merged with M2 Group and Amcom this year and is close to completing the purchase of NextGen, which will substantially increase how much infrastructure it owns. Chief executive Geoff Horth said the company was focused on getting more corporate customers onto the national fibre network. Photo: James Alcock ..>> view originalFortescue scores debt rating upgrade
Oil Search first-half profit tumbles 89pc
Oil Search first-half profit tumbles 89pc, dividends slashed Updated August 23, 2016 14:19:10 PNG-focussed gas and oil producer Oil Search has seen its first-half profit crushed by falling oil prices, tumbling almost 90 per cent.Oil Search reported a profit of just $US25.6 million ($34 million) in the six months to June 30, down from $US227.5 million ($300 million) in the same period last year.This was despite a 4 per cent lift in production to 14.9 million barrels of o..>> view originalACCC 'vindicates' Utah Point concerns
ACCC ‘vindicates’ Utah Point concernsThe Australian Competition and Consumer Commission has flagged its concerns about the Western Australian government’s potential sale of the Utah Point export berth, with the watchdog calling for regulation of fees at the port under any future sale.In a letter from ACCC chairman Rod Sims to the Parliamentary Committee studying the proposed sale of Utah Point – which is used by smaller miners in the Pilbara – the competition tsar stressed that pricing should be..>> view originalWA Premier Colin Barnett rejects conflict of interest over son Sam's 'glamping' plan
WA Premier Colin Barnett rejects conflict of interest over son Sam's 'glamping' plan Updated August 23, 2016 20:01:03 West Australian Premier Colin Barnett has rejected any suggestion of a conflict of interest between his tourism portfolio and a luxury camping development proposed by his son.Sam Barnett plans to set up a "glamping" resort on a large parcel of beachfront land he bought for $140,000 last year, near Port Gregory in the Mid West.Later that same year, the Pr..>> view originalGet real on tax reform before the future bites, says KPMG
Technological upheavals are expected to force dramatic changes in the tax mix. The rise of the so-called gig economy, robotic tax assessors, international competition for services and other technological upheavals will almost certainly force dramatic changes in the nation's tax mix, whether politicians like it not, says KPMG.In a report that warns governments risk being overwhelmed by changes over the next decade, KPMG says reduced personal tax and cor..>> view originalScentre Group upbeat about retail trading in its Westfield malls
"We still have retail sales growth even in a deflationary environment," said Scentre chief executive Peter Allen. Chris Hopkins The $27 billion Scentre Group, the owner and manager of Westfield shopping centres, is upbeat about retail trading in its malls."We still have retail sales growth even in a deflationary environment," said Scentre chief executive Peter Allen. He was pointing to 2.5 per cent specialty sales growth in the past six months..>> view originalVirtus delivers big, beautiful profit
Marty SilkAustralian Associated PressMore women trying to get pregnant later in life have helped Virtus Health lift its full-year profit by 11.8 per cent.The fertility services provider said its net profit of $32.9 million was underpinned by solid growth in treatment cycles and implantations of fertilised eggs.Virtus's Australian, Irish and Singaporean operations completed 18,719 cycles in the 12 months to June, a rise of 9.6 per cent over the previous year.Chief executive Sue Channon said deman..>> view originalUber to be legalised in Victoria; passengers to be hit with $2 per trip levy
Uber to be legalised in Victoria; taxi, ride-booking services to be hit with $2 per trip levy Updated August 23, 2016 16:02:16 Victoria's Government has announced plans to legalise Uber, which will also see taxi and ride-booking services hit with a $2 per trip levy.The Government will establish a single registration system for taxis, hire cars and ride-share services.Premier Daniel Andrews said the State Government would do away with taxi licences and provide $378 milli..>> view originalBlue chips lift ASX but investors sour on mining services
Buying appetite returned to blue chip stocks on Tuesday, with the Australian sharemarket posting a solid gain as the banks and CSL lifted, while fortunes were again mixed for companies reporting results. Despite a cautious overseas lead, the benchmark S&P/ASX 200 Index ended 39 points, or 0.7 per cent, higher at 5553.8 while the All Ordinaries finished 0.6 per cent, or 35 points, higher at 5647.1. Mining services companies were savaged on the ASX in an otherwise strong day for the Index. P..>> view original
Tuesday, August 23, 2016
Vocus profits up 461 per cent after merger and other top stories.
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