Headwinds in the Australian consumer market has caused Vocus to revise its full-year earnings guidance for the second subsequent time, the company has revealed. In reporting its first-half 2018 revenue and earnings growth, Vocus said it had revised full-year earnings guidance in underlying EBITDA to $365-380 million down from between $370-$390 million on revenue of…
DetailsGodfreys Group has suffered a further sales slump and slid to a $59 million half-year loss as the vacuum cleaner retailer’s new chief executive pledges to turn around the business’s declining fortunes. Godfreys booked a net loss of $58.6 million for the half, compared with its $21.7 million loss a year ago, following a previously…
DetailsLawyers, accountants, academics and farmers are among the 22 HBF councillors who will decide the future of the health insurers $4 billion merger proposal. Under HBFs constitution, its council is the groups most powerful oversight body, with the deciding vote on the planned merger of equals with Sydney-based insurer HCF. However, despite rapidly changing standards…
DetailsVacuum cleaner retailer Godfrey’s Group has deepened its first-half loss on the back of a $75.2 million impairment charge and other business restructuring costs. The company’s net loss of $58.6 million for the six months to December 29 compares to its $21.7 million loss a year ago, while underlying profit – which excludes one-off significant…
DetailsAccording to Italian daily Corriere della Sera, Milan owner Yonghong Li has declared himself bankrupt and his assets will now be auctioned off on Taobao – the Chinese version of Ebay. Questions had been previously asked of Yonghong’s financial stability, with the New York Times and Italian financial paper Il Sole 24 Ore having already carried out investigations pointing…
DetailsThe Institute for Accountability in Southern Africa has written to Eskom chairperson Jabu Mabuza requesting a detailed written explanation as to why the current board believes the State-owned utility can be rescued from its current financial distress, cautioning that Eskom may currently be trading recklessly in terms of the legislation governing companies in South Africa.…
DetailsHSBC Holdings (0005) releases its annual results today and many investment houses seem positive. Goldman Sachs expects the total amount of share buybacks of the banking group to hit US$3 billion (HK$23.4 billion) this year and the dividend payout to be maintained at 51 US cents per share. The conglomerate has had three public repurchases…
DetailsMEAT supplier Russell Hume has become the latest large company to make headlines for going into administration. The company, which supplied chains such as Wetherspoon and Jamie Oliver restaurants, is facing the loss of 270 jobs. Here’s what calling in the administrators means… PA:Press Association What does going into administration mean? When a company enters…
DetailsDeborah Repman of Caldwell Boudreaux Lefler. New Positions Deborah Repman has been promoted to partner in Caldwell Bodreaux Lefler in Houston. Repmans principal area of practice is regulatory compliance with federal and state law governing the transportation of crude oil, petroleum products and natural gas liquids. She has experience in administrative litigation before the Federal…
DetailsOUR SAY: THE flip side of Toowoomba’s economic boom has been reported today by Tara Miko. Ms Miko’s front-page story today details Toowoomba’s unenviable position as having the third highest rate of personal insolvency in the state – behind Ormeau-Oxenford and Townsville and tied with Rockhampton. Toowoomba Chamber of Commerce CEO Jo Sheppard said the…
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