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Strong First-Half Results for SOCO Corporation, REA Group CEO to Retire, and More

SOCO Corporation Ltd has announced preliminary unaudited first-half FY2025 revenue of $11.0 million, up from $9.3 million in the previous corresponding period. However, the company has faced some project commencement delays and a decline in demand from Federal Government clients.

While SOCO secured $18 million worth of contracts by October 2024, the company has had to push back the start of some projects. Additionally, government policy shifts have led to reduced demand from federal agencies. But SOCO is making progress diversifying its client base, particularly in Victoria and Queensland, which should boost its revenue mix in the years ahead.

Management forecasts full-year FY2025 revenue to be between $22.0 million and $24.0 million, lower than previous expectations but still an improvement over the prior year's $20.5 million.

Elsewhere, REA Group Ltd has announced that Chief Executive Officer Owen Wilson will retire in the second half of 2025 after a successful 10-year tenure with the company, including 6 years as CEO. The Board has initiated a search for Wilson's replacement, looking at both internal and external candidates.

Wilson will remain with REA Group to ensure a smooth transition, with Chairman Hamish McLennan and News Corp CEO Robert Thomson praising his outstanding leadership in building the company into a global digital property platform leader.

In other news, PEXA Group Limited (ASX: PXA) has announced the resignation of Mr. Les Vance, the Chief Executive Officer of PEXA Australia and a key management personnel of the Group. Vance's resignation will take effect on February 21, 2025.

PEXA is a leading digital property exchange and data insights business, having facilitated more than 20 million property settlements in Australia since 2013. The company also launched its refinancing capability in the UK in 2022.

Finally, The Calmer Co. International Limited (ASX:CCO) has secured a FJD2.64 million ($1.8 million AUD) loan from Fiji Development Bank to support the acquisition of its Navua facility in Fiji. The purchase will strengthen the company's market position and allow further investment in the Fijian economy, including increased plant capacity, in-house laboratory functionality, and expanded kava buying and processing.