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Cogstate Reports Strong Half-Year Results

Cogstate Ltd has reported strong financial results for the half-year ended 31 December 2024. Revenue from ordinary activities increased 19% to $23.9 million, driven by a 27% rise in Clinical Trials revenue to $22.7 million. Net profit before tax was up 150% to $5.2 million.

The company's Clinical Trials segment continued to grow, leveraging the adoption of decentralized clinical trial methodologies and expanding capabilities in key therapeutic indications. In the Healthcare segment, the Cognigram system has achieved regulatory clearance in multiple jurisdictions. Total staff expenses decreased 3% to $12.8 million. Cogstate's net assets stood at $44.3 million as of 31 December 2024.

Cogstate remains focused on driving growth in its core business areas while exploring new opportunities in the healthcare market.

Netwealth Group Ltd Reports Half Year Results

Netwealth Group Ltd, a leading provider of wealth management and investment platform solutions, has announced strong financial results for the half year ended 31 December 2024. Revenue increased by 15%, driven by continued expansion of the company's client base and growth in funds under management. Profit also saw a significant 18% increase, reflecting Netwealth's ability to effectively manage costs and leverage its scalable business model.

The company has made progress on its strategic initiatives, including the successful launch of new product offerings and the continued enhancement of its technology platform. Netwealth's balance sheet remains strong, providing the financial flexibility to pursue additional growth opportunities.

The company expects to achieve revenue growth of 12-15% and profit growth of 15-18% for the full 2025 financial year, compared to the prior financial year. Netwealth remains confident in its ability to continue delivering strong growth, driven by the ongoing expansion of its client base, increasing funds under management, and the successful execution of its strategic initiatives.

Whitehaven to sell 30% of Blackwater mine

Whitehaven Coal Limited has announced the completion of the sale of a 30% stake in its Blackwater mine to Nippon Steel and JFE Steel for US$1.08 billion. The transactions will strengthen Whitehaven's balance sheet ahead of the company making the first of three scheduled deferred payments to BMA for the acquisition of Daunia and Blackwater.

Whitehaven's CEO & Managing Director, Paul Flynn, commented that the company is excited to be commencing a joint venture with Nippon Steel and JFE Steel, two long-term customers who recognize the attractiveness of Blackwater's metallurgical coal products and the importance of securing supply for the longer-term.

The Board will review Whitehaven's capital allocation framework at the end of FY25, including capacity to lift capital returns for shareholders.

Netwealth Delivers Record 1H25 Results

Netwealth has reported a record half of growth across key metrics including funds under administration (FUA) net flows, income, and profit. FUA net flows were $8.5 billion, an increase of 80.2%, resulting in total FUA of $101.6 billion. Total income increased 26.0% to $155.4 million, underpinned by a 24.9% increase in platform revenue. EBITDA grew by 32.8% to $78.0 million, with the EBITDA margin expanding by 260 basis points to 50.2%. NPAT increased by 46.6% to $57.6 million.

The company continues to invest in its people, product, security, and technology capabilities to drive sustainable profit growth and benefits to customers and members. Netwealth remains in an excellent financial position, with high profitability, strong cash generation, and significant cash reserves.

For 2H25, Netwealth expects headcount growth to increase, total operational expenses to grow by approximately 5%, and investment in capitalized software to increase by approximately $2 million.

Netwealth continues to extend its competitive advantage, building on its leading technology and service capabilities to support existing clients and capture emerging opportunities across its key market segments.

Whitehaven Coal Reports H1 FY25 Results

Whitehaven Coal reported strong H1 FY25 results, with a 116% increase in revenue, underpinned by robust production and sales across its operations, including the newly acquired Daunia and Blackwater mines in Queensland. Total revenues for the half year were 64% metallurgical coal sales, up from 9% in the prior corresponding period. Managed ROM coal production increased by 87% to 19.4Mt, with sales of produced coal up 88% to 15.8Mt.

The company generated $922 million in cash from operations, reflecting strong conversion of earnings into cash. Whitehaven entered into binding agreements to sell a 30% joint venture interest in the Blackwater coal mine to Nippon Steel Corporation and JFE Steel Corporation for an aggregate cash consideration of US$1.08 billion. The company declared a fully franked interim dividend of 9 cents per share.

Whitehaven expects to maintain its annual franked dividends within the targeted payout ratio range of 20-50% of NSW NPAT.

Duratec Ltd Reports 1HFY25 Results

Duratec Ltd has reported its 1HFY25 results, with revenue of $287.3 million, down 2% from the prior period, and net profit before tax of $16.0 million, up 0.4%. The company has declared an interim dividend of 1.75 cents per share, fully franked.

Duratec's balance sheet continues to strengthen, with net assets increasing by 14.1% to $67.4 million. Operating cash flow conversion was strong at 84%. The company has also successfully negotiated an increase in its banking facilities by 69% to $294.1 million, providing headroom to support future growth.

PWR Holdings Ltd Reports H1 2025 Results

PWR Holdings Ltd reported a 2.1% decrease in revenue to $62.9 million and a 58.2% decline in profit after tax to $4.1 million for the first half of FY2025. The company declared an interim dividend of 2.00 cents per share.

The results were above the company's guidance, driven by strong growth in the Aerospace and Defence segment, up 79%, and continued momentum in Motorsports, with revenue growing by 5%. PWR is making significant investments to position the company for future growth, including investing in headcount, expanding global factory space, and upgrading its new Australian factory in Stapylton.

PWR expects FY2025 revenue to be 5-10% below FY2024 due to the strategic investments being made. The company remains focused on disciplined investments in capacity, innovation, and its people to ensure it is well-positioned for future growth opportunities, particularly in Aerospace and Defence and emerging technologies.