Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Joel Robinson

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

Company Profit

<html><body>
DEXUS Property Group’s statutory net profit fell more than 10 percent for the half-year ended December 2016 from the previous corresponding period, though the company raised its market outlook for the 2017 financial year.
The group, which invests directly in Australian office and industrial properties, said its development and leasing activities offset the impact of asset sales.
DEXUS’s underlying business (excluding trading profits) delivered FFO (funds from operations) per security of 29.7 cents, up 10.6% on the previous corresponding period. 
Statutory net profit after tax of $716.0 million was hurt by lower revaluations and lower trading profits which also drove down FFO, Adjusted Funds from Operations (AFFO) and distribution compared to the previous corresponding period, it said in an ASX release.
<img src="https://www.urban.com.au/images/2017/02/15/DexusFinResults.png" alt="">
The group said it settled on $688 million of asset sales, including the sale of 39 Martin Place, Sydney.
“We have significantly reduced our gearing as a result of the settlement of asset sales over the past six months,” said Alison Harrop, the chief financial officer. 
 <img src="https://www.urban.com.au/images/2017/02/15/DexusGearing.png" alt="">
Chief executive Darren Steinberg said: “Income growth from leasing activity and development completions during FY16 helped to offset the impact of recent asset sales, driving a solid underlying result.”
“We’ve progressed priority projects in our trading pipeline as well as opportunities to restock the future pipeline and we’re confident that the remaining forecast trading profits will be realised in the coming months, delivering on our FY17 target.” 
Dexus said it delivered “a strong” one-year total return of 13.9% across its office portfolio, helped by strong leasing deals in Sydney and gains from the sale of investment properties.  
It started construction of the core of 100 Mount Street, North Sydney and added new projects to the uncommitted development pipeline including 201 Elizabeth Street, Sydney.
Dexus has $22.7 billion of assets under management. The group manages an office portfolio of 1.7 million sqm primarily across Sydney, Melbourne, Brisbane and Perth. 
“While property fundamentals continue to improve in Sydney and Melbourne, we expect to see underlying valuation assumptions improving and further capitalisation rate compression for Prime properties over the next 12 months which will continue to support values in our key markets over 2017,” Steinberg said.
In summary, Steinberg was optimistic, saying Dexus has raised its market outlook for growth in underlying FFO per security from 3.0-3.5% to circa 4%, growth in FFO per security to circa 1% and distributions will be paid in line with free cash flow, delivering distribution per security growth of 3.5-4.5% for the 12 months ending 30 June 2017.
<img src="https://www.urban.com.au/images/2017/02/15/DexusPortfolio.png" alt="">
 
</body></html>

prateek24-ezbwHMbNAk

Dexus first half profit falls 10 percent, hurt by lower revaluations

<html><body>
Stockbroker Bell Potter suggest the next few weeks are key to the profit for McGrath Estate Agents.
It has advised in an update to clients that the real estate market has yet to see a meaningful rebound in auction volumes.
"The positive is that there has been a rising trend in volumes over the last couple of months and clearance rates have been consistently strong between 70-80 percent," analyst Chris Savage said.
"But the negative is that volumes are still below (in some cases well below) what they were a year ago and we are now almost in the middle of spring.
"The next several weeks are obviously key for how the 1HFY17 result will look for McGrath," the latest update advised.
He said each week we get data on auction volumes and clearance rates for each capital city in Australia and the key focus in the case of McGrath is obviously Sydney. 
"It has been well publicised that, after reasonably strong volumes and clearance rates in Sydney in 1HFY16, volumes then fell away materially in 2HFY16 which caused McGrath to downgrade its FY16 prospectus forecasts.
"The key focus now obviously is what happens to volumes and, to a lesser extent, clearance rates in Sydney in 1HFY17 and whether there is a rebound or not. 
"Spring is a key period for auctions so right now is when we would expect to see a rebound in volumes if there is going to be one."
The report came with an updated chart for auction volumes and clearance rates in Sydney up until last weekend.  
<a href="/images/2016/10/14/Screen%20Shot%202016-10-14%20at%2011.32.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/14/Screen%20Shot%202016-10-14%20at%2011.32.56%20AM.png" alt="">
"The key take-out of the chart is that we have really yet to see a meaningful rebound in volumes this half," it concluded.  
</body></html>

jchancellor-FAypfDUnLy

Crucial spring weeks ahead for McGrath profit

<html><body>
The celebrity businessman and host of Channel 9's The Celebrity Apprentice, Mark Bouris, says he will fire himself if his business, Yellow Brick Road does not make a profit this financial year.
Bouris made the bold declaration to the Australian Financial Review's Chanticleer columnist Tony Boyd in today's paper.
It comes at a time when the share price bounces around at 15 cents, near its record low of 13.5c. 
<a href="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.29.13%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.29.13%20AM.png" alt="">
The fall in the stock over the past two years has left the group with a market cap of just over $40 million, down from about $200 million at its peak.
The mortgage lender and wealth manager made its stockmarket debut in 2011 with the kid from Punchbowl, in Sydney’s south-west, having the aim of taking on the banks, but YBR shares have crashed more than 75 per cent during the past two years. 
YBR’s recent $9.5 million ­annual loss came despite increasing its revenue 31 per cent to $218 million. 
<a href="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.34.33%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.34.33%20AM.png" alt="">
In early 2014 Bouris said YBR was “on track” to deliver its maiden profit during that ­financial year.
The recent $9.5 million loss was nearly tripling the previous year’s loss of $2.6 million.
The company has lost a cumulative $36.9m over the six years since its listing which saw Bouris joined on the register by Mineral Resources founder Chris Ellison and chief executive Peter Wade, pastoralist John Kahlbetzer and Navitas boss Rod Jones.
<a href="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.51.29%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.51.29%20AM.png" alt="">
Bouris plans to open 40 new branches in the next year.
It has $700 million funds under management.
"Our foot was on the pedal, metaphorically speaking, right as the market cooled this year,” Mr Bouris said, explaining the result.
Along with recent acquisitions, YBR has spent millions on advertising during the housing boom to grab a bigger slice of the market.
YBR acquired the non-bank lender Resi Mortgage in 2014 for $36 million and then took over mortgage aggregator Vow Financial for $17.6 million.
Over the past 12 months, it has spent $5.3 million on advertising and marketing with The Celebrity Apprentice largely functioning as a lengthy ad. 
<a href="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.55.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.55.03%20AM.png" alt="">
Last week the accounting entrepreneur, Brett Kelly made an off play for the company, while saying the YBR wealth management strategy will never work.
Kelly, who owns the country's fastest-growing network of accounting firms, says people buying low value mortgages from YBR's network of 40 branches do not have enough money to make the YBR wealth management strategy profitable.
An investor update issued last week by YBR suggested its competitive advantage as scaling lending, with $38 billion in mortgages under management, distribution scale with 1500 credit representatives and brand equity, which it credited as much stronger than it competitors.
While Kelly believes that Bouris has done well to build a strong finance business, he maintains that Australians with money for wealth management do not go to mortgage brokers or any of the big four banks.
<a href="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.56.29%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.56.29%20AM.png" alt="">
Last week Kelly tried to grab a stake in YBR whose two biggest shareholders are Macquarie Group and Nine Entertainment Co.
Macquarie and Nine each owns a 20 per cent stake in YBR and both are strategic partners of YBR.
Macquarie supplies YBR with mortgage loans while Nine has been supplying a certain amount of free advertising as part of a contra deal from 2012 worth $6.5 million.  
<a href="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.59.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2011.59.31%20AM.png" alt="">
Bouris admitted to Chanticleer that his reputation is at stake in the quest to build YBR into one of the country's largest independent financial firms. 
The Australian newspaper reported last month that investors had lost patience in Yellow Brick Road, the listed ­financial services firm he founded in 2007 after Bouris had overhauled YBR’s structure twice this year.
Bouris, who owns more than 51 million shares, took home $1.6 million in remuneration from YBR last year, a substantial cut from the previous year’s $5.6 million.
<a href="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2012.03.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Screen%20Shot%202016-10-12%20at%2012.03.54%20PM.png" alt="">
The reduction in pay also came with more responsibility as the latest restructure cut five senior positions.
The Australian noted YBR has paid millions in advisory fees to BBB Capital and Golden Wealth Holdings.
BBB Capital is an investment advisory group founded by Mark Bouris and his brother Adrian, both of whom sit on the YBR board.
BBB Capital has collected $2.2 million in fees from YBR over the past six years, while Golden Wealth, an entity controlled by Mark Bouris, has been paid $3.9 million in consultancy fees from YBR over the same period.
Last month YBR ­announced the sale of the wealth division’s accounting business and legal practice to the former owner David Carr for nearly $2 million, with a consideration of an extra $2.8m over the next five years.
“I’m going to spend the next two to three years driving into hitting our capacity,” Mr Bouris recently told The Weekend Australian.
“I’m gonna be working a lot harder than I’ve ever worked,” he said.
“Not everyone necessarily wants to do that but that’s the way I run things. And if they don’t want to do it they can leave …
“I’m interested in people who will roll their sleeves up and get things done and actually go to the branches and see the customers. I don’t care if it’s me or the CEO — they’ve got to go and do it.”
Mr Bouris put down the collapse in the YBR stock price to the state of the market clinging to yield stocks, or companies that pay out generous dividends, and said investors weren’t rewarding ambition.
“The market is looking for yield. We’re a growth stock. Our aim is to take market share from our competitors. And I don’t make any apologies for that.”
</body></html>

Mark Bouris says he will fire himself if YBR doesn't make a profit

<html><body>
<img src="https://counter.theconversation.edu.au/content/63192/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Retail sales data showed growth in the sector falling flat last week, and it remains a tough time to be a retailer in Australia.
Overall, shoppers are expecting more for less, abandoning any sense of loyalty. However, there are bright sparks of success in the moribund sector that point towards what works and what doesn’t in making profits in retail.
Australia’s overall inflation, currently at historical lows, is only kept above zero by the increasing prices of services like health and education, not by retail goods. Retail staples like food, clothing and footwear are all cheaperthan this time last year. Price competition, and pressure on margins in the grocery and clothing markets is intense.
The deflation in “food and non-alcoholic beverages” prices recently reported by the ABS can be most readily explained by the Aldi effect. Aldi’s continued expansion throughout regional Australia and continued push westward to South Australia and Western Australia is playing havoc with the retail margins of both Coles and Woolworths. Both have fallen to around 4.7 percent of sales as price declines have been outstripped by operational cost efficiencies. The major challenge for both Coles and Woolworths, however, is to address the fundamental difference in their cost of doing business versus the lean operations of Aldi.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%209.05.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%209.05.55%20AM.png" alt="">
Away from groceries, as the seasons turn, Australia’s bulging wardrobes continue to make room for yet more clothes and shoes. Despite this, prices are falling. In clothing and footwear, deflation is better explained by the ascendant online marketplace and consumer preferences, shopping traits and experiences.
Overall online clothing retail sales growth continues to far outstrip bricks and mortar retail, with small online retailers (sales less than A$2.5 million) seeing strong growth of more than 20 percent per annum on the back of more agile systems and shopper convenience.
<h2>Green shoots</h2>
Looking below the “sectoral” numbers to some examples of individual businesses provides some interesting evidence of these trends - both supportive and contradictory.
<h4> </h4>
Online surfwear and sportswear retailer Surfstich, for example, saw its share price savaged after it posted a massive loss on the back of a flagging acquisition strategy and management upheavals. In a closely related market, however, Kathmandu is performing relatively well, flagging higher margins and earnings to come. CEO Xavier Simonet attributes these outcomes to “product newness and careful management of promotional activity” – basically selling a more narrow range of more appreciated goods with less discounting.
Premier Investments continues to outperform. Controlled by Solomon Lew and led by the colourful former CEO of David Jones, Mark McInnes, Premier seems to have the right portfolio of products and store-based and online business strategies to maintain growth and margins. Its Smiggle business is a case in point. It sells cheap things at high prices to a demographic of adoring tweens, while the quality Peter Alexander brand works as a sales generating all-rounder in the family clothing sector.
Another somewhat bright spot seems to be Kogan – the online electronics retailer that recently listed on the ASX. It is a business that is hard to categorise. It has a portfolio of own-branded electronics, operates a channel of grey imported products from its offshore subsidiary, and is branching into services including travel. Trading at a discount to its IPO, it is fair to say the market is watching with interest rather than enthusiasm before it decides on the longevity of this idiosyncratic retailer.
One of the most resilient of retailers, Harvey Norman, also reported last week. Its result was stellar and its share price soared. Sceptics wonder, though, how much of this can be attributed the the exit of Dick Smith and the rather topsy housing market which all but the most optimistic spruiker sees at or near its zenith.
Both Premier and Kogan point to an emerging trend – innovation matters in retail more than ever. Strong growth among small online retailers is showing consumers want variety and novelty in their baskets and wardrobes rather than generic and cheap (or worse, generic and expensive). Globally, firms like Threadless (a T-shirt company whose customers design its logos) are trying new things and creating products that appeal to narrow yet loyal customer groups. In Australia, niche online retailers like Babes in the Shade are showing they have a business model that can work over time.
But innovation is both risky and expensive. More often than not supermarket trialled novelties do not last, with the same true in clothing and elsewhere. This can explain the emergence of firms like Premier Investments that combine retail smarts, relatively deep pockets and novel ideas. Premier can afford the odd disaster when balanced with successes like Smiggle.
In the future, we expect more innovation and variety and thus more turblulence in the sector. Occasional narrow-brand innovators like Noni B will succeed, but a more likely model for success will be the porfolio players. They can ride out the ups and downs of retail’s various sub-markets and sustain profitability and growth.
John Rice is professor of management, University of New England and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-rice-93120" target="_blank">here</a>.
Nigel Martin is lecturer, College of Business and Economics, Australian National University and author for The Conversation. he can be contacted <a href="https://theconversation.com/profiles/nigel-martin-117971" target="_blank">here</a>.
</body></html>

Company results wrap: retail sales flat, but some retailers buck the trend

<html><body>
GUEST OBSERVER
Each ‘earnings season’ or ‘profit-reporting season’ CommSec tracks all the earnings results of ASX 200 companies to obtain a comprehensive picture of the aggregate health of Corporate Australia.  
Despite some high profile exceptions, companies have generally reported solid results. All but 16 of the 139 companies produced a profit for the year to June. That is, almost 90 per cent of companies made money. Excluding BHP Billiton, aggregate profits lifted by almost 7 per cent.  
Gold, Real Estate Investment Trusts (REITs) and Health Care were some of the strongest sectors in 2015/16 together with companies linked to, or dependent on, home building.  
A record 92 per cent of full-year reporting companies elected to pay a dividend.
The Profit Reporting Season 
There is no doubt that the past year has been challenging for many companies. But that isn’t anything new. Australian companies have been living with the new realities of ‘disruption’, increased competition and low inflation for a few years now. The important point is that Australian companies continue to respond positively to the challenges. Almost 140 of Australia’s biggest companies reported full year results, and all but 16 have recorded a profit. Strip out BHP Billiton and aggregate profits are up by around 7 per cent compared with a year earlier. 
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.34.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.34.03%20AM.png" alt="">
In typical sporting parlance, it was a year of two halves. In the second half of 2015, unemployment fell, retail spending rose and the Aussie dollar eased  all serving to boost bottom-line profits. But over 2016, the dollar drifted up, the job market stalled and retail spending flattened. You can blame “Brexit” or the long election campaign, but operating conditions for companies became tougher.  
Assessing all the profit results of the major listed companies provides great insights into the health of Corporate Australia and thus the health of the economy. We are less interested in whether companies met or exceeded analyst forecasts. That says more about company guidance, the forecasting abilities of analysts and the number  of analysts providing forecasts for company earnings (in many cases just one broker ‘covers’ a stock).
The good news is that companies are making money; cash levels remain high; and companies remain super-keen to pay dividends to shareholders.  
Overall, though it is clear that Aussie companies have had to work hard in lifting revenues, they continue to achieve success in restraining costs. Low wage growth and weaker input costs such as energy assisted companies in boosting bottom-line profits. Aggregate cash levels haven’t budged much from the last reporting period in December. But as noted, companies are enthusiastic as they have ever been in paying out dividends.  
And while it has been hard work to lift revenues, Treasury Wine Estates (TWE) has shown what can be done with a re-assessment of strategy. TWE now employs a high margin strategy and it was successful in lifting revenues 19 per cent in the last financial year.  
And on the costs side, Fortescue Metals (FMG) has shown the benefits of its focus on cutting iron ore cash costs, slashing expenses by 31 per cent over 2015/16. Fortescue noted that C1 costs had been cut by 43 per cent over the financial year. And Qantas also trimmed costs by 1.4 per cent while lifting revenues by 2.4 per cent, boosting bottom-line profits. Underlying fuel costs fell by 17 per cent in 2015/16 with underlying non-fuel expenses down by 5 per cent.  
BlueScope Steel was another stand-out, continuing its amazing recovery, with profits more than doubling on the back of strategic decisions and improving industry fundamentals.  
It is wrong to say that resources companies had a poor 2015/16. Gold producers as a group actually reported a 4.4 per cent lift in profits. Demand for gold has remained firm while the gold price in Australian dollar terms flirted with record highs on a number of occasions in 2015/16. Earnings weakness was concentrated in the Diversified Metals &amp; Mining sector.  
Arguably the best performing sector in 2015/16 was Real Estate Investment Trusts – REITs or property trusts. The fundamental assets such as shops, industrial premises and offices have remained in firm demand with investors increasingly on the look-out for higher yields.  
Other solid-performing industry sectors include Health Care, Packaged Food, Broadcasting, Asset Management and Casinos &amp; Gaming. Companies linked to, or dependent on, home building and purchase also did well.  
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.35.27%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.35.27%20AM.png" alt="">
The Details: Full-year earnings
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
CommSec has analysed all results from ASX 200 companies. Traditionally brokers or analysts focus on smaller subsets of results. And some merely focus on just whether companies have met or fallen short of “market expectations”.
Overall, 139 companies from the S&amp;P/ASX 200 reported profits for the year to June. Including all companies, profits fell 16.8 per cent over the year to $30.4 billion. But a significant distortion is imparted into the results from BHP Billiton. The mining heavyweight swung from a profit of US$1,910 million to a loss of US$6,385 million. To include BHP Billiton in the aggregate results would present an incorrect picture of the earnings season.  
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.37.04%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.37.04%20AM.png" alt="">
Some of the key results:
Excluding BHP Billiton, aggregate profits rose by 6.8 per cent to $36.8 billion.  
Average earnings per share rose by 1.4 per cent (ex BHP Billion, up 3.9 per cent).  
Aggregate sales were up by 3.2 per cent over the year; aggregate costs/expenses were also up 3.2 per cent.  
All but 16 companies recorded a profit for the year to June: that is, 88.5 per cent of companies recorded a profit.  
63.3 per cent of companies increased profit over the year; above the long-term average near 60 per cent.  
Aggregate cash holdings rose by 0.7 per cent to $74.2 billion.  
Adding in the 28 companies reporting half-year earnings, cash levels were up by 2.5 per cent on end  December levels.  
Aggregate dividends rose by 6.0 per cent over the year.  
 92.1 per cent of companies (128 of 139 companies) paid a dividend.  
Of companies paying a dividend, 65.6 per cent lifted dividends; 16.4 per cent maintained dividends; and 18.0 per cent of companies cut dividends.  
The Details: Half-year earnings results  
CommSec has tracked 28 companies from the ASX200 that reported earnings for the half-year to June. All but three reported a profit. That is, 89.3 per cent of companies reported a profit.  
The gap between profit and loss was closer: 57.1 per cent reported a profit.  
Cash levels fell 24.3 per cent from June 2015 to June 2016 to $24.8 billion.  
92.9 per cent of companies (26 of 28 companies) paid a dividend.  
Of companies paying a dividend, 53.8 per cent lifted dividends; 19.2 per cent maintained dividends; and 27 per cent cut dividends.  What are the implications for interest rates and investors?  
The Aussie sharemarket is slightly overvalued at present with a price-earnings ratio sitting closer to 17, above the longer-term average of 15.7. But the latest earnings results represent a tick for the sharemarket. And with the economy in decent shape, share prices have scope to track profits higher – particularly in light of the super-low interest rate environment.  
We see no need to change our long-held forecasts. We currently expect the All Ordinaries to be between 5,500- 5,700 points by end-2016 (ASX 200 probably 100 points lower) with the index lifting to 5,700-5,900 by mid-2017.  
As always, the focus of investors should be on total returns from shares, not just share prices. Global factors (that is, the US election and US interest rate hikes) may act to constrain domestic share prices in the short-term, but fundamentally Aussie companies are in good shape, making money and choosing to pay dividends. Indeed most  of the major listed companies have decided to lift or maintain dividends. The current dividend yield is around 4.2 per cent.
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.38.04%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%208.38.04%20AM.png" alt="">
<div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">Total returns on the Australian sharemarket – as measured by the All Ordinaries Accumulation index (XAOAI, dividends plus share price changes) – hit record highs on August 24 at 51,934 points. Currently total returns on Australian shares are up 7.4 per cent on a year ago. We expect total returns over the next 12 months to record annual growth of between 7-12 per cent. Companies have been cagey about providing guidance for the next six months. And that is understandable. Most are being challenged by the low inflation/low interest rate environment and looking at options for growth. And these options differ. Gold companies are looking to invest and expand. Industrial companies such as SEEK are looking at “aggressive” reinvestment in the business and potential acquisitions. Domino’s Pizza is looking to push the envelope further by focusing on completing deliveries in 10 minutes.
In other words, many see the best form of defence being attack. And that makes sense. Fewer companies can exercise price leadership, and competition is now very much global for many industries. The key for companies is to find a point of difference from competitors and one that customers truly value. The low inflation/low interest rate environment looks to be around for some time to come. 
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>. Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Corporate Australia rewards shareholders: CommSec's Craig James and Savanth Sebastian

<html><body>
The Ray White Group total sales for the financial year came to $44 billion - an increase of 10 percent over the previous year.
Overall market share increased across both Australia and New Zealand.
“It was one of the golden years,” said group chairman, Brian White. 
He said prospects for 2017 remain positive and the signs of the traditional surge in spring time listings are apparent.
"As an indication, Ray White Double Bay’s first spring auction event, scheduled for 29 August, has a record number of properties going to auction.
“The feature of both the markets in Australia and New Zealand is in the inner city property markets.
"Perhaps the biggest generational change.
"The previous overwhelming preference for families to move to the newer suburbs has, to a degree, been reversed as the inner city community facilities and services become more developed,” Mr White said.
The group settled 74,000 transactions which was 5% up on the previous year.
It resulted in the posting an 8 per cent increase in full-year gross fee income to $1.11 billion.
The result includes all residential and commercial transaction fees, but excludes revenue from the group's mortgage origination business, Loan Market.
 
</body></html>

Ray White posts 10 percent rise to $44 billion in financial year sales

<html><body>
Global Real Estate Investment Manager Cromwell Property Group today reported operating profit boosted by transactional income of $164.5 million for the year to 30 June 2016. 
Cromwell Chief Executive Officer Paul Weightman said Cromwell’s strategy of realising gains and recycling capital, and its internal management model, created value from active management of assets, generated performance fees, allowed it to act opportunistically and enabled it to effectively manage downside risk.
 “FY16 was a year in which we benefitted from a number of one-off transactions,” said Mr. Weightman.
Portfolio valuations increased by $250.3 million during the year net of property improvements, lease costs and incentives.
Net property earnings, on a like for like basis, increased 1.6 percent with increases in rental income being offset by some vacancy in Brisbane and Canberra. Overall tenant quality remains strong with Government and government related entities contributing 46 percent of gross income.
As at 30 June 2016, the portfolio had a Weighted Average Lease Expiry (WALE) of 6.3 years and a vacancy rate of 10.6 percent compared to the national CBD office average of 11.9 percent (JLL).
“Our NSW and VIC assets continue to perform well and we are actively managing the vacancy in our Queensland and Canberra assets”, Mr Weightman said.
Cromwell expects tenant demand, outside of Sydney, to remain weak resulting in subdued growth in like for like property income in FY17 and FY18.
Cromwell was a net seller in FY16 selling $209 million of assets with a net gain of $19.4 million (1.1 cps) including:
Asset Sale ValueDate Disposed
43 Bridge Street, Hurstville, NSW$37 millionJuly 2015
4 Bligh Street, Sydney, NSW$68 millionAugust 2015
Terrace Office Park, Brisbane, QLD$31 millionSeptember 2015
100 Waymouth Street, Adelaide, SA$73 millionDecember 2015
A proportion of the proceeds were used to repay debt with the balance being held as cash.
“Given the heightened competition for assets in all markets, Cromwell’s preference is to recycle capital from disposals to value adding opportunities in its existing portfolio. We are investing $300 million for the future with the redevelopment of Northpoint Tower in North Sydney and the development of the new Department of Social Services national headquarters at Tuggeranong Office Park in ACT,” Mr Weightman said.
“Both projects are on track and will contribute earnings growth and valuation uplifts to the Group in the near future. Demolition works have just finished, and construction will begin next month, at Northpoint, while construction will finish shortly at Tuggeranong,” he added.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Cromwell Property Group was a net seller in FY16

<html><body>
The Sunland Group today announced an after tax profit of $31.5 million for the full year ended 30 June 2016, an increase of 5 percent on the previous corresponding period’s $30.1 million profit.
It reported a strong balance sheet with $19.9m in cash and $97.4m in undrawn working capital lines.
The level of gearing was advised as 33 percent debt to assets and 56 percent debt to equity.
The group advised $41.2m in new site acquisitions, with a further $32m in site acquisitions in Brisbane and the Gold Coast due to settle during the first half of the 2017 financial year.
Sunland's managing director, Sahba Abedian, said the improved financial performance was a result of increased development margins, prudent capital management initiatives and the emergence of earnings from retail assets.
“The strategic portfolio replenishment and capital management efforts of recent years have continued to deliver favourable results for the Group, enabling the portfolio to benefit from the value uplift resulting from buyer demand along the eastern seaboard,” Mr Abedian said.
“These projects contributed to a total development return of 35 percent across the portfolio, significantly higher than our targeted return on cost of 20 percent.”
During the financial year it launched 10 new projects including Shea Residences in Brisbane, Magnoli Residences in Palm Beach and The Heights (pictured above) master planned community in Pimpama, further positioning the portfolio to capitalise on the improving south-east Queensland residential markets.
Sunland completed four new site acquisitions totalling $41.2m during the period in Brisbane (St Lucia and Toowong) and Sydney’s Northern Beaches (Ingleside and Warriewood).
The new acquisitions are at Everton Hills (Brisbane) and Coolangatta (Gold Coast).
The Group’s portfolio comprises 6,300 land, housing and multi-storey products with a total end value of $4.3 billion, with 16 active projects along the east coast of Australia.
During the 2016 financial year Sunland generated $235.6m in revenue from 443 property settlements compared with 2015 with $279.7m from 387 settlements.
Sales volume was down in FY16 as projects in New South Wales and Victoria were sold out during the previous year and no additional projects were released in these states.
The group pipeline of presales has 779 contracts totalling $605m as at 30 June 2016 for new projects released across the portfolio.
In late July 2016 Sunland launched the $82m mixed-use Marina Concourse development adjoining the Royal Pines Marina on the Gold Coast.
The Grace on Coronation project in Toowong has been approved by Brisbane City Council, however Sunland continues to deal with an appeal through the Land and Environment Court and a judgement is not expected until early 2017.
Construction of Sunland’s $240m luxury Abian residential tower development in the Brisbane CBD has now progressed through to level 34 and settlements are expected to contribute to the 2017 and 2018 financial years.
“While record low interest rates and improved consumer sentiment continue to drive buyer demand, we are cognisant of the cyclical nature of our industry and maintain a disciplined and conservative approach to the replenishment and delivery of our portfolio,” Mr Abedian said.
For more information, <a href="https://www.sunlandgroup.com.au" target="_blank">click here</a>.
</body></html>

Sunland reports $4.3 billion development pipeline

<html><body>
<div>
Rental property portal Rent.com.au have seen their revenue increase by 118 percent in the year to June 30.
Their revenue was $748,000, up from $343,000 in FY15, which showed the demand for rental properties has continued to escalate in the increasingly expensive property market.
<a href="/images/2016/08/24/Rent.com.au%20FY16.jpg" target="_blank">Click here to enlarge</a>
<img src="/images/2016/08/24/Rent.com.au%20FY16.jpg" alt="" width="406" height="222">
 
They've also hired a new CEO, Greg Bader, who replaced departing chief executive and founder, Mark Woschnak.
Greg Bader said that in today’s market renters wanted a wide range of rental properties from which to choose, from both agents and non-agents.
"We accept that housing affordability is a real issue in Australia, but we are also seeing a growing number of people choosing to rent for practical and logical reasons," he said.
“We now have a very significant share of all rental property listings available on our site and have developed a consistently large and unique renter audience as a result.
<div class="page" title="Page 3">
<div class="section">
<div class="layoutArea">
<div class="column">
"This is core to the positioning of RENT as the destination of choice for renters, however we’re also moving towards meeting the other needs of renters in a commercially sustainable way.
</div>
</div>
</div>
</div>
The listed company has achieved 651,000 average monthly unique visitors this year, up 157 percent from last year and exceeding the target of 500,000 unique visitors per month.
In the past year, 2700 agents and 13,000 private landlords have signed up to advertise on the site.
The company will now begin to commercialise on the website having reached critical mass.
It will offer more products to address renter concerns such as RentCheck which helps landlords check a renter's standing.
 
</div>
<div> </div>
<div> </div>
<div> </div>
<div>
 
</div>
</body></html>

Rent.com.au announce new CEO as revenue rises 118 percent in FY16

<html><body>
Shareholders in Onthehouse Holdings Limited have been told annual revenue from continuing operations was steady compared to the previous corresponding period from $21.5m in FY2015 to $21.4m in FY2016.
Its EBITDA excluding transaction costs and other expenses from continuing operations were down 3 percent on pcp from $7.9m in FY2015 to $7.7m in FY2016. EBITDA margins from continuing operations decreased on pcp from 37 percent to 36 percent.
Its underlying Net Profit (After Tax) from continuing operations was down from $5.3m to $3.3m as a result of increased amortisation and a reduction in income tax benefits.
The Consumer Online division was sold during the year resulting in a total loss from discontinued operations of $6.1m in FY2016 improving from the pcp loss of $13.6m in FY2015.
In February 2016, the Group announced its decision to sell or close the Consumer Online division. The sale was completed in May 2016 for gross contract price of $3 million.
"The sale of the cash-burning COD business meant that Onthehouse could devote 100% of its strong cash flows and focus on growing the revenue and profitability of its Real Estate Software division," Tony Scotton,the chairman at Onthehouse Holdings said.
"Onthehouse is now well positioned and has access to funds to grow Console’s portfolio of software products’ market share and explore new revenue opportunities – including unlocking the value of the real estate agent, landlord, tradespeople and tenant relationships managed by the Console GatewayLive property management software."
The bid by the Macquarie-led Consortium to purchase the company will go to a meeting next month.
More than 3,900 real estate agents are customers of Onthehouse real estate software, which includes Console GatewayLive, a locally-installed property management software program, ClientManager a cloud-based sales customer relationship management software solution, and WebChoice, a cloud based platform to deliver websites for real estate agencies.
Onthehouse’s Console GatewayLive software delivers 84 percent of Onthehouse’s revenue.
</body></html>

Company Profit

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Company Profit

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News