Daily Roundup

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HiTech Group Australia is making a bold move into new territory with its A$7 million acquisition of Hudson Global Australia's operations. The deal significantly expands HiTech's national footprint beyond its traditional ICT recruitment and consulting base, bringing fresh revenue streams into the fold. More importantly, it strengthens the company's Government capability through Hudson's established relationships—a valuable asset in the public sector space. The transaction will be funded through a mix of existing capital and committed debt facilities, and management expects it to be earnings accretive once integration wraps up.

Meanwhile, Vysarn Ltd. is riding a wave of impressive momentum. The company just posted record FY26 net profit before tax of A$20.9 million, up a stunning 89% year-on-year. Operational revenue climbed 85% to A$140.1 million, while EBITDA grew 77% to A$28.9 million. The NewGround acquisition is already contributing A$7.0 million in EBIT to the FY27 base, setting up a strong platform for continued expansion. Looking ahead, Vysarn is eyeing both organic growth and selective acquisitions, while also pursuing a 5C license and infrastructure funding for the Kariyarra Water Scheme. The company has balance sheet capacity to deploy, and management is taking a measured approach to leverage available debt for non-dilutive growth opportunities.

On the memory technology front, Weebit Nano is raising its revenue expectations. The company upgraded its FY 2026 revenue guidance to at least A$13.5 million, up from the previous A$12 million target. The boost comes from expanding customer projects, signaling solid demand for its advanced memory technologies. Full audited results are due on 28 August.

In the resources space, there's a notable shift at EQ Resources. Dr Andrew Forrest AO, through his investment vehicle Wonongarra Pty Ltd, is acquiring a 16.8% stake in the tungsten producer from Oaktree. The move represents a strong vote of confidence in EQR's strategic position as a leading supplier into Western supply chains. Oaktree, which has been a cornerstone investor since 2023, supported EQR's acquisition of the Barruecopardo mine in Spain and expansion of Mt Carbine in North Queensland. The ownership change won't affect operations, management, or strategy—EQR remains focused on growing production across both its key assets.

Finally, Advance Zinctek Ltd is posting solid gains. The company expects unaudited profit before tax of A$2.294 million for FY26, up 13% from A$2.029 million the year prior. Sales revenue rose 12.65% to A$13.111 million. What's particularly encouraging is the surge in global enquiries, which are running significantly higher than the prior year—a promising indicator for future growth.