DJ hits sales high, Melbourne biotech takeover: Midday Roundup
Wednesday, May 7, 2014/
David Jones is reporting its best performance in almost four years after sales rose by 4.1% to $407.2 million in the three months ending April.
The results were lifted by online sales, which rose by 190%, accounting for more than 2.2% of total sales.
DJs outperformed Myer, where sales fell almost 1% to $646.5 million in the April quarter.
Melbourne biotech company snapped up
Irish pharmaceutical company Shire has taken over Melbourne biotech company Fibrotech for more than $80 million.
Fibrotech, founded in 2006, has been developing new drugs to treat fibrosis.
Victoria’s Minister for Technology Gordon Rich-Phillips says the move highlights the state’s appeal for international biotech companies.
“Fibrotech’s success demonstrates Victoria’s credentials as a leading developer of biotechnology products and services for global markets. Victorian research has consistently underpinned the most significant partnering licencing, merger and acquisition-based deals seen in the Asia-Pacific region.”
Shares down on open
Aussie shares have opened lower this morning, following a dip at the close on Wall Street.
The S&P/ASX200 benchmark was down 54.7 points to 5426.7 at 12:15pm AEDT. On Tuesday the Dow Jones closed 129.53 points lower, down by 0.78% to 16401.0.
Forget marketing, the secret to business success is being well-liked Ian Whitworth Scene Change co-founder
Why brick-and-mortar will drive e-commerce by turning stores into distribution centres Brenton Gill Radaro managing director
Play, refine and grow: How I started a successful shoe business with just $100 Sarah Nally Sienna Baby founder
How we created an engaging online course with a 91% completion rate Emma Green Your CEO Mentor co-founder
Flexible working is all the rage, so here are six tips to help you get started Alison Michalk Quiip founder
Four tips for playing the long game in business, from Victoria's Small Business Woman of the Year Fiona White Own Body founder