Daily Roundup

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Kip McGrath Education Centres faces headwinds as lesson numbers slip

Kip McGrath Education Centres Ltd has reported softer revenue performance than expected in the second half of FY26, with lesson numbers declining across the network. While the company lifted lesson prices, the increase wasn't enough to fully compensate for the drop in student numbers. The strong Australian dollar also weighed on revenue and earnings in the UK and New Zealand operations.

Despite the challenges, management has kept a tight rein on operating expenses and strategically invested in initiatives aimed at improving the franchisee experience and overall network performance. The company did defer $400,000 in capital investments to FY27 to preserve cash. Looking ahead, Kip McGrath expects revenue to decline in constant currency terms by a low-single digit percentage, with expenses rising mid-single digits and net profit after tax increasing mid-single digits.

Acusensus locks in another six months of speed camera work in NSW

Acusensus Ltd has extended its mobile speed camera contract with Transport for New South Wales, securing another six months of work worth approximately $16 million. The extension runs from 1 July 2026 through to 31 December 2026, with an option to extend for a further six months until 30 June 2027. The AI-enabled road safety technology company is also in the midst of a tender process for a new long-term contract with the state authority.

Credit Corp and Humm call it quits

The proposed acquisition of Humm Group by Credit Corp Group has collapsed after both parties failed to find common ground. Credit Corp raised several issues during commercial due diligence that it couldn't resolve, leading the company to materially reduce its bid on 19 June. Humm's Independent Board Committee concluded that a mutually acceptable deal couldn't be reached, and discussions have now ceased entirely.

Accent Group tells Frasers where to go

Accent Group Limited has recommended shareholders firmly reject Frasers Group's unsolicited takeover offer. The company's Independent Board Committee unanimously advised rejection, arguing that the A$0.65-per-share offer price is inadequate and opportunistically timed. The committee believes the bid fails to reflect the true value of Accent's Sports Direct business and represents an attempt to gain control without paying a proper premium. Accent will outline its detailed reasoning in a forthcoming Target's Statement.