Daily Roundup

HUB.ASX AVA.ASX PLS.ASX GLH.ASX CLG.ASX

Robust Inflows and Solid Growth for HUB24

HUB24 has delivered an impressive performance in the second quarter of fiscal year 2025, reporting record quarterly net inflows of $5.5 billion - a 23% increase from the previous corresponding period. This strong result contributed to total funds under administration (FUA) reaching $120.9 billion as of December 31, 2024, up 33% year-over-year.

The company's market leadership and focus on customer service excellence continue to drive its success, with 40 new distribution agreements signed during the quarter and the total number of advisers using the platform increasing by 166 to 4,886 (up 14% on the previous corresponding period). HUB24 ranked first for quarterly and annual net inflows and had the largest annual market share gains of all platform providers, with its market share increasing to 7.9%.

Looking ahead, HUB24 remains confident in meeting its fiscal year 2026 Platform FUA target of $115 - $123 billion, citing a strong pipeline and momentum across all customer segments. The company expects strong growth and increasing profitability moving forward, subject to consistent and stable investment markets.

Ava Risk Group Delivers Solid Q2 Results

Ava Risk Group (ASX: AVA) has reported a strong trading update for the second quarter of fiscal year 2025, with expected H1 FY2025 revenue of $17.0 million, up 20% on the previous year. The company also expects to achieve positive EBITDA for the first half, driven by a stable and scalable cost base.

Ava Group continued to see robust sales order intake during the quarter, totaling $7.4 million and resulting in H1 sales order intake of $16.3 million. The company made further progress in key industry verticals, including sovereign border protection, airport perimeter detection, and transportation, with an order backlog of $7.6 million at the end of Q2, including $2.4 million in contracted annual recurring revenue.

CEO Mal Maginnis commented that Ava Group is well-positioned to accelerate growth in the second half of fiscal year 2025, with its proven technology platform and strong sales opportunity pipeline.

Latin Resources Acquisition by Pilbara Minerals Approved

Latin Resources Limited (ASX: LRS) has received court approval for its proposed acquisition by Pilbara Minerals Limited (ASX: PLS) through a share scheme of arrangement and an option scheme of arrangement. The schemes are expected to become legally effective on January 22, 2025, at which time Latin Resources shares will be suspended from trading.

This acquisition will see Pilbara Minerals expand its operations and strengthen its position in the resources sector. The remaining key dates of the share scheme, option scheme, and demerger have been provided, and shareholders are encouraged to contact the company with any questions regarding the schemes.

Global Health Delivers Strong Q2 Performance

Global Health Limited (ASX: GLH) has reported a robust financial performance in the second quarter of fiscal year 2025, with a 22% increase in customer receipts to $3.025 million compared to the previous corresponding period. The company also saw a significant improvement in operating and investing cashflow, up 355% to $382,000.

For the first half of the fiscal year, revenue increased by over 7% to approximately $4.4 million, and operating and investment cashflow continued to trend towards positive, improving by 56% (up $683,000) to negative $539,000. Global Health raised $350,000 through the issue of convertible notes and repaid $107,000 of debt, resulting in a small group cash outflow of $524,000 for the half-year.

Looking ahead, the company is well-placed to generate better results in the second half of fiscal year 2025, with a growing pipeline of new clients and upgrades to existing clients. Global Health is focused on improving operating efficiencies and productivity for its private hospital clients, while also benefiting from growth in its mental health and community healthcare segments.

Close the Loop Provides Update on Adamantem Discussions

Close the Loop Ltd (ASX:CLG) has provided an update on its discussions with Adamantem Capital regarding Adamantem's proposal to acquire 100% of the company's shares for $0.27 per share. The exclusivity period granted to Adamantem has now concluded, as binding transaction documentation has not been executed as of January 20, 2025.

Close the Loop shareholders do not need to take any action at this time, and the company will continue to keep the market informed of any further developments in accordance with its continuous disclosure obligations. The directors note that there is no certainty that the parties will enter into binding documentation or that a transaction of any kind will materialize.