Daily Roundup

GenusPlus Lands $255 Million Infrastructure Windfall

Infrastructure services provider GenusPlus has secured a major haul of contracts worth approximately $255 million with Western Power and Fortescue. The deals span transmission, distribution, maintenance, and customer connection works across Western Australia, with projects including the Clean Energy Link - East initiative and power distribution infrastructure at Fortescue's Christmas Creek and Solomon mine sites. The wins underscore GenusPlus' growing role in supporting the region's decarbonization push.

FOS Capital Delivers Impressive First Quarter

Meanwhile, FOS Capital is riding strong momentum after reporting Q1 FY27 results that beat expectations. Sales jumped 64% year-over-year to $7.25 million, while EBITDA improved significantly to $0.55 million. The company's order book grew 15% to $10.5 million, and its active quote pipeline sits at a healthy $130 million. Recent wins include the Monash Medical Clinic project and a Queensland Schools Lighting Upgrade Program. Management expects the trading momentum to carry into Q2, buoyed by cost reduction initiatives and the strengthened pipeline.

LPE Turns Corner with Dramatic Profit Swing

Locality Planning Energy has turned a corner financially, posting a net profit of $2.31 million in FY26—a 166% improvement from the prior year's loss. The company also lifted its gross profit margin to 25.0% and slashed its debt-to-total-assets ratio to just 0.5%, reflecting solid deleveraging progress. The energy services provider is banking on renewals, acquisitions, and new builds to expand its service point pipeline heading into FY27.

IAG Sweetens Merger Offer to Win ACCC Approval

Insurance Australia Group is doubling down on its merger with the Royal Automobile Club of Western Australia by offering fresh commitments to address competition concerns. IAG will transfer NRMA Insurance renewal rights in Western Australia to another insurer, invest $20 million in community resilience initiatives over a decade, and tackle insurance availability gaps in the state's north. The company expects the transaction to be earnings accretive in its first full year and remains confident it will deliver substantial public benefits.

SKS Technologies Denies Undisclosed Information

SKS Technologies has responded to an ASX price query, confirming there's no undisclosed information behind recent trading activity. The company attributed the volatility to possible sector-wide market influences and reiterated its compliance with ASX Listing Rules. Management remains focused on its pipeline of opportunities and converting them into secured work.