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Market Roundup: Netwealth Soars, Biome Expands, and Fortescue Delivers Record Shipments

Netwealth Hits New Heights
Netwealth Group Limited (ASX: NWL) has reported a second straight quarter of record-level FUA net inflows, with $4.5 billion for the December 2024 quarter. This represents a 69.8% increase year-over-year, taking the company's total FUA to $101.6 billion, up 30.2% from the prior year. Netwealth also delivered significant product enhancements and saw strong growth in its non-custodial offering.

Biome Boosts Australian Presence
Microbiome health company Biome Australia Limited (ASX: BIO) has significantly increased its Australian distribution, growing from 5,000 locations to over 6,000 locations in the past six months. This represents 33% of the company's Vision 27 Strategic plan target and comes as Biome signs new deals with USF Dispensaries and Greenleaf Pharmacies.

Fortescue Shines with Record Shipments
Fortescue Ltd (ASX: FMG) reported strong operational performance in the December 2024 quarter, with record half-year shipments of 97.1 million tonnes, a 44% lower Total Recordable Injury Frequency Rate, and a 10% decrease in Hematite C1 costs compared to the previous quarter. The company maintained its guidance for FY25 and continues to advance its portfolio of green technologies.

Nanosonics Delivers Robust H1 Results
Nanosonics Limited (ASX: NAN), a leader in infection prevention solutions, provided a trading update for the first half of the 2025 financial year. The company expects profit before tax of approximately $10.9 million, up 122% from the prior corresponding period, and total revenue of around $93.6 million, an 18% increase.

Firetail Streamlines Portfolio
Firetail Resources Limited (ASX: FTL) has divested its lithium rights over certain tenements in Western Australia to Spartan Resources Ltd (ASX: SPR) for $275,000. This transaction allows Firetail to focus on advancing its core projects in Canada and Peru while monetizing non-core Australian assets.