Daily Roundup

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PWR Holdings Delivers Record Results on Strong Aerospace Growth

PWR Holdings Ltd capped off a stellar year with record revenue of $170.7 million, up 31% year-on-year, as its Aerospace & Defence segment continued firing on all cylinders. The company's net profit after tax jumped 83% to $17.9 million, with profit margins expanding to 10.5% from 7.5% the previous year—a sign of improving operational efficiency across the business.

The momentum is undeniable. PWR's order book hit record levels heading into FY27, and the company is backing up its confidence with capital investment. A new manufacturing facility in Poland will support European A&D growth, while a fresh Australian headquarters has already been completed. Research and development spending climbed 17% to $14.9 million, underscoring management's commitment to innovation.

Shareholders are being rewarded handsomely. The final dividend of 5 cents per share represents a 150% increase, bringing the full-year payout to 8 cents—double the prior year. With net debt down to just $5.6 million and a robust balance sheet, PWR is well-positioned to fund growth while returning cash to investors. The company expects A&D revenue to keep climbing in FY27, though it's guiding for NPAT margins to trend back toward FY24 levels as the business scales.

Sonic Healthcare Powers Ahead With Double-Digit Growth

Sonic Healthcare delivered a solid performance for FY26, posting 13% revenue growth to $10.9 billion and lifting underlying EBITDA by 11% to $1.93 billion. Net profit climbed 18% to $608 million, while earnings per share grew 14%, demonstrating the company's ability to convert revenue growth into bottom-line earnings.

The healthcare diagnostics giant is reaping the benefits of its acquisition strategy. The LADR Laboratory Group integration in Germany is progressing smoothly, with over 40% of expected synergies already captured. Meanwhile, a US operating review is underway, with management expecting to unlock an additional $25-30 million in earnings for FY27.

Organic revenue growth of 5% shows the underlying business remains healthy, driven by strong performances in Europe and the UK. The company tightened cost control, reducing labour costs as a percentage of revenue by 30 basis points. Sonic Healthcare maintained its progressive dividend policy, increasing the full-year payout by 1 cent to 63 cents per share, fully franked at 60%. Looking ahead, the company anticipates continued organic revenue growth and expects to maintain its disciplined approach to capital management.

Goodman Group's Data Centre Bet Paying Off

Goodman Group's full-year results showcase the real estate investor's successful pivot toward data centres. Operating profit surged 15.7% to $2.67 billion, while operating earnings per security climbed 10.1% to 129.9 cents. Statutory profit nearly doubled, jumping 67% to $2.78 billion, reflecting the substantial value creation in Goodman's development pipeline.

The numbers tell the story. Work in progress ballooned to $19.7 billion, with data centres accounting for 78% of the total—a clear signal of where Goodman sees the future. The company's global power bank expanded to 6.4 GW across 16 major cities, with 3.6 GW already secured. The portfolio value increased 4% to $89 billion, while occupancy remained strong at 95.6%.

Goodman is targeting 9% OEPS growth in FY27, with a distribution of 30 cents per security. The company's capital position remains robust, with $6.4 billion in liquidity and gearing at a comfortable 6.5%. Management sees significant long-term opportunities in logistics and cloud infrastructure, positioning Goodman to capture growth in metropolitan markets where land is scarce and demand is surging.

Laserbond Achieves Solid Growth Across the Board

Laserbond Ltd reported a more measured but still impressive performance, with revenue up 10.8% to $48.2 million. EBITDA grew faster than the top line, climbing 15% to $10.4 million, while net profit surged 27.7% to $4.9 million—a sign of improving operational leverage.

The company's net tangible assets per share increased 9.2% to 32.17 cents, reflecting solid capital generation. Laserbond doubled its final dividend to 0.8 cents per share, fully franked at 30%, demonstrating confidence in the business trajectory. The company maintained its 40% interest in Gateway Equipment Parts & Services, which contributed $1.03 million to post-tax profits during the year.

Zip Co Hits Record Profitability as US Market Accelerates

Zip Co Ltd capped a remarkable year with record cash earnings of $268.9 million, up nearly 58%, as the buy-now-pay-later platform scaled profitably across its key markets. Revenue climbed 25% to $1.34 billion, while net profit jumped 46% to $116.4 million—demonstrating the company's ability to convert growth into shareholder returns.

Transaction volume across the group grew 27.2% to $16.7 billion, but the real story is the US market's acceleration. American transaction volume surged 42.5% in USD terms, with the customer base now exceeding 4.6 million. Operating margins expanded dramatically by 420 basis points to 20%, showcasing the operating leverage in Zip's model as it scales.

The company completed $150 million in on-market share buybacks and announced the wind-down of New Zealand operations to focus resources on Australia and the US. For FY27, management is guiding for cash EBITDA of $340 million, representing 26% growth, with US transaction volume expected to grow more than 30% in USD terms. Credit losses remained well-controlled at 1.77% of transaction volume, keeping asset quality intact as the platform expands.