Daily Roundup

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Commonwealth Bank of Australia Reports Q3 2026 Trading Update

Commonwealth Bank of Australia has reported a resilient performance in its Q3 2026 trading update. The bank maintained strong balance sheet settings, with high levels of capital, liquidity, and deposit funding. Its unaudited cash net profit after tax (NPAT) was around $2.7 billion, up 4% from the prior comparative quarter, despite challenging macroeconomic conditions.

The bank delivered disciplined volume growth across key business segments, including home lending, household deposits, and business banking. Operating income was flat, with higher net interest income offsetting lower other operating income. Expenses increased 1%, driven by higher cloud computing, software licensing, and investment in AI capabilities.

Loan impairment expense rose to $316 million, reflecting heightened geopolitical and macroeconomic uncertainty. However, the bank's CET1 (Level 2) ratio remained strong at 11.6%, well above the regulatory minimum.

Looking ahead, the Australian economy is expected to continue demonstrating resilience, but supply chain disruptions, higher prices, and interest rates are likely to weigh on household spending and business activity. The bank will remain focused on executing its strategy to build a brighter future for all.

Develop Global to Complete Bellevue Gold Mining Contract

Develop Global Limited (ASX:DVP) has announced that it will complete its underground mining contract at Bellevue Gold's (ASX: BGL) mine in Western Australia on 31 July 2026. The demobilization will release around $50 million in capital, which Develop plans to redeploy across its business.

As part of the demobilization, Develop will retain the skilled underground mining team from Bellevue to support its current and tendered contracts. This will be valuable given the tight labor market.

Develop also shared that it has been awarded a $274 million, three-year contract with Core Lithium (ASX: CXO) for underground development and production at the Finniss Lithium Project in the Northern Territory. The contract is expected to generate steady-state annual revenue of $120 million, with mobilization starting in June 2026 and underground mining commencing in July 2026.

Healius Provides FY26 Trading Update, Reviews Agilex Biolabs

Healius Limited (ASX: HLS) has released a trading update for the 2026 financial year (FY26). The company expects Group Underlying EBITDA to be between $259.0 million and $264.0 million, and Group Underlying EBIT to be between $30.0 million and $35.0 million.

In the Pathology business, volumes grew 1.2% and revenue grew 3.5% in the first half of FY26, but declined 0.4% and grew 2.4%, respectively, in the 10 months to April 2026. Pathology costs have been contained, but labor costs will be impacted by a Fair Work Commission decision on gender-based undervaluation.

Healius also announced that it has engaged UBS Securities Australia to explore a sale of its Agilex Biolabs business, which continues to trade strongly with 13.7% revenue growth year-to-date.

The company commented on the lack of new funding for pathology in the Federal Budget, noting that inadequate funding has resulted in difficult decisions to cut staff, close collection centers, and regional laboratories, with charging out-of-pocket fees being the only viable option to bridge the funding gap.

Nanoveu Requests Suspension Pending Acquisition Announcement

Nanoveu Ltd (ASX: NVU) has requested a voluntary suspension of its securities pending an announcement regarding a proposed acquisition to expand the company's drone technology capabilities. The suspension will continue until the earlier of the announcement or trading resumption on 15 May 2026.