Daily Roundup

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Aussie Broadband Appoints New Group CEO

Aussie Broadband, the Australian telecommunications company, has announced a significant leadership transition. Phillip Britt, the Group Managing Director and co-founder, will be retiring on February 28, 2025, after over 20 years of exceptional leadership. Taking his place will be Brian Maher, the current CEO, who will be appointed as the new Group Chief Executive Officer effective March 1, 2025.

Britt will continue to serve on the Board as a Non-executive Director and will also take on a newly created role as Special Technical Adviser, providing valuable insights and expertise as Aussie Broadband expands its fibre optic network and undertakes other special projects. The Board has expressed confidence in Maher's extensive experience and proven capability to lead the company and deliver on its strategic objectives.

SDI Ltd Releases Trading Update

In other news, SDI Limited, a leading dental materials manufacturer, has reported its preliminary unaudited sales for the six months ending December 2024. The company's sales were down 1.5% compared to the prior corresponding period, coming in at $51.5 million. However, after adjusting for currency movements, sales actually increased by 1%.

The results reflect strong growth in European and Brazilian sales, which were up 9.7% and 9.2% respectively. This was offset by weakness in direct exports to the Middle East and Asia, as well as continued softness in Amalgam sales. Despite the mixed performance, SDI's gross profit margins increased to 63.5%, reflecting efficiencies in production and a favorable product mix.

PolyNovo Reports Strong First-Half Results

Moving on, PolyNovo Limited, a medical device company, has reported impressive trading results for the first half of the 2025 fiscal year. The company saw a significant increase in both its U.S. and international sales, with U.S. sales up 27.9% to A$41.2 million and Rest of World sales up 28.6% to A$12.9 million.

PolyNovo's total group revenue, including funding from the Biomedical Advanced Research and Development Authority (BARDA), grew by 22.8% to A$59.9 million compared to the same period last year. The company's CEO, Swami Raote, highlighted that as PolyNovo expands its NovoSorb platform beyond difficult burns to the broader Plastic & Reconstructive Surgery space, it is delivering positive outcomes at a rate more than twice as fast as revenue growth.

Telix Pharmaceuticals Receives European Approval for Illuccix

In a significant regulatory milestone, Telix Pharmaceuticals has received a positive decision on the Marketing Authorization Application for its prostate cancer PET imaging agent, Illuccix, in Europe. This approval follows previous approvals in the United States, Australia, and Canada, and sets the stage for a commercial launch of the product across the European Economic Area.

Illuccix, after radiolabelling with gallium-68, will be indicated for the detection of PSMA-positive lesions in adults with prostate cancer, including primary staging, suspected recurrence, and identification of patients with PSMA-positive metastatic castration-resistant prostate cancer. This European approval further expands Telix's global footprint and provides a clinically important imaging modality to healthcare providers and patients in Europe.

Lynas Rare Earths Reports Q2 FY25 Results

Lastly, Lynas Rare Earths Ltd has reported its Q2 FY25 results, with quarterly gross sales revenue of A$141.2 million, the highest since the June 2023 quarter. Sales receipts were A$145.9 million, reflecting the company's focus on high-value strategic customers and an optimized product mix, complemented by favorable foreign exchange rates.

However, total REO production was 2,617 tonnes, lower than planned, due to technical issues with impurities in the mixed rare earth carbonate feedstock from the new Kalgoorlie facility. Lynas has identified technical solutions to address these feedstock issues and is continuing to progress its growth projects, including the Stage 1 Mt Weld Expansion Project and the development of its U.S. operations.