Embattled property group McGrath Limited (ASX: MEA) has issued another profit warning, saying its full year guidance will be cut by half because of lower sales volumes. The company says it expects underlying full-year earnings of between $5 million and $5.5 million, which is down significantly from its January forecast of between $10.6 million and…
MUMBAI: Homebuyers could be treated on a par with unsecured financial creditors at insolvency proceedings for real estate companies. If adopted, the move will cheer those who have acquired residences from companies such as Jaypee Inftratech, Unitech and Amrapali and find themselves at the back of the queue when it comes to seeking recompense. This…
End user IT training provider TP3 Group has been liquidated after 30 years in business, with all staff losing their jobs though many have since been hired by a competitor. TP3 Group, which offered Microsoft and Adobe courses, was wound up by the Australian Taxation Office in December. A report from court-appointed liquidator Nicols &…
Embattled real estate company McGrath Limited has delivered another blow to shareholders after the business cut its full-year guidance by 50 percent. McGrath Limited said one-off cash costs have brought the companys full-year guidance to between $5 and $5.5 million down from the $10.6 million to $11.6 million forecast in January. READ MORE: ‘Rogue economist’ defends…
Company directors are dodging measures designed to stop abuse of the insolvency system so that they can avoid paying their creditors, new research suggests. Experts have expressed concern about the number of phoenix companies, which are created by directors after a firm is put into whats known as a pre-pack administration. In a pre-pack, a…
Embattled property group McGrath Limited has cut its full year earnings guidance by half, saying the impact of reduced sales volumes has affected the company more significantly than previously contemplated. The company expects to generate underlying full-year earnings of between $5 million and $5.5 million, down from between $10.6 million and $11.6 million announced in…
Keystarts new chief executive Paul Graham hopes to expand the business by finding new and innovative ways to help more West Australians realise the dream of owning their home. Keystart is a State Government agency that provides residential loans to customers who satisfy rigorous serviceability criteria, but do not have enough initial savings for a…
A successful cyberattack can be devastating for small businesses, especially if their resources are limited because the fallout of the attack can range from financial losses to reputational damage. Its only a matter of time before small businesses are hit hard by an attack but there are things they can do to protect themselves, according…
SAN DIEGO (KGTV) – A local business owner is warning others about a phony debt restructuring company that he said cost him thousands of dollars. Hugh Herrera owns Pacific Beach Vinyl. “What we’re selling is music, which is one of the uplifting things of life,” Herrera said. A couple years ago, Herrera needed help managing…
SAN DIEGO (KGTV) – A local business owner is warning others about a phony debt restructuring company that he said cost him thousands of dollars. Hugh Herrera owns Pacific Beach Vinyl. “What we’re selling is music, which is one of the uplifting things of life,” Herrera said. A couple years ago, Herrera needed help managing…