Speciality Fashion Group profits rise in first half: Midday roundup

Specialty Fashion Group posted a massive 192% jump in net profits for the six months to December to $18 million.

Shares in the company rose 6.3% to $1.01 this morning following the results.

The group said it achieved the results through increases in online sales, margin expansion, supply chain improvements and minimisation costs inflation.

The company owns womenswear retailers Katie’s and Miller’s.

Australian businesses under cyber attack

One in five Australian businesses has been the target of a cyber attack in the past year, according to a crime and security survey released today.

The 2012 Cyber Crime and Security Survey Report, commissioned by the Computer Emergency Response Team Australia, surveyed 250 businesses and also found the attacks are becoming increasingly targeted and coordinated.

Attorney-General Mark Dreyfus, QC, launched the report in Melbourne today and said the digital economy has created a “myriad opportunities for Australian business” but with increased opportunities comes increased risk of criminal exploitation.

“Cyber attacks have shifted from being indiscriminate and random to being more coordinated and targeted for financial gain. Most attacks occur from outside the business, although it appears internal risks are also significant,” he says.

Australian shares open higher

Australian shares opened strongly this morning with the S&P/ASX200 benchmark up 30.8 points to 5064.7 at midday.

The sharemarket has been influenced recently strong results reported by companies in the six months to December.

The Dow Jones Industrial Index closed 8.37 points higher for the week at 13981.76, but will be closed tomorrow due to the Presidents’ Day holiday.