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Market Roundup: Furniture Retailer Navigates Challenges, Domino's Streamlines, and ikeGPS Rejects Takeover Offer

Nick Scali Reports Mixed Half-Yearly Results
Furniture retailer Nick Scali Limited saw a 10.8% increase in revenue to $251.1 million for the half-year ended 31 December 2024. However, underlying net profit after tax declined 22.6% to $33.3 million. The company attributed the profit drop to losses in its UK business and one-off expenses in Australia and New Zealand. Despite the challenges, Nick Scali declared an interim dividend of 30.0 cents per share.

Domino's Announces Strategic Review and Store Closures
Domino's Pizza Enterprises Ltd is undertaking a strategic review to simplify its operations and improve profitability. The company plans to close 205 loss-making stores, including 172 in Japan, which is expected to generate $10-12 million in annualized EBIT uplift. Domino's forecasts underlying net profit before tax of $84-86 million for the first half of fiscal 2025 and has declared an interim dividend of 55.5 cents per share.

ikeGPS Rejects Takeover Offer
Utility software provider ikeGPS Group Limited received an unsolicited, non-binding acquisition offer from a private equity group at a 62% premium to its share price. However, after discussions, ikeGPS determined the offer had no realistic chance of securing sufficient shareholder support and has discontinued the process. The company remains focused on its growth strategy in the North American and international electric utility and communications markets.

Generation Development Group Requests Trading Halt
Generation Development Group Ltd has requested a one-day trading halt to finalize and execute a potential acquisition and associated capital raising, as well as to manage its continuous disclosure obligations. The trading halt will remain in place until the earlier of an announcement by the company or the market open on 10 February 2025.

Collins Foods Clarifies Yum! Brands' Q4 Results
In response to Yum! Brands' recent fourth-quarter results, Collins Foods Limited has provided clarification regarding differences in reporting periods and the inclusion of New Zealand in KFC Australia's sales growth figures.