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 in the second half of FY26 than initially expected. The tutoring network saw lesson numbers decline, and while it raised prices to compensate, the increases weren't enough to offset the drop in volume. A stronger Australian dollar also weighed on the company's UK and New Zealand operations. Despite these challenges, management has kept operating expenses on a tight leash and strategically invested in initiatives designed to improve the franchisee experience and overall network performance. The company deferred $400,000 in capital investments to FY27 to preserve cash. Looking ahead, Kip McGrath expects revenue to decline by a low-single digit percentage on a constant currency basis, though it's guiding for a mid-single digit increase in net profit after tax as cost discipline kicks in.

Acusensus secures extension on NSW speed camera contract

Technology company Acusensus Ltd has extended its mobile speed camera services contract with Transport for New South Wales for another six months, with the option to extend for a further six months beyond that. The contract, which kicks off on 1 July 2026, is worth approximately $16 million per six-month period. A tender process for a longer-term arrangement is already underway, so this extension essentially keeps the lights on while negotiations continue for what could be a more substantial deal down the track.

Credit Corp and Humm call off merger talks

Credit Corp Group Ltd and Humm Group Limited have ended discussions regarding Credit Corp's proposed acquisition of Humm. The deal unraveled after Credit Corp raised concerns during due diligence that couldn't be resolved. Credit Corp subsequently informed Humm on 19 June that it was materially reducing its bid. Both parties have now confirmed that a mutually acceptable transaction cannot be reached, and discussions have ceased entirely. Humm's board remains confident in the company's prospects as an independent entity, with a focus on profitable and sustainable growth.

Accent Group tells shareholders to reject Frasers' bid

Accent Group Limited is recommending shareholders reject Frasers Group plc's unsolicited takeover offer. The Accent board established an independent committee to evaluate the bid, and it unanimously concluded that the offer price of A$0.65 per share is inadequate and opportunistically timed. The committee argues that the offer fails to reflect the value of Accent's Sports Direct business and represents an attempt to gain control without paying a proper premium. Accent will provide detailed reasons for its rejection in a forthcoming Target's Statement.