Daily Roundup

CCG.ASX SKS.ASX FMG.ASX GQG.ASX RPM.ASX

Comms Group Announces Entitlement Offer

Comms Group Ltd is conducting a fully underwritten non-renounceable pro-rata entitlement offer to raise funds. Eligible shareholders can subscribe for 1 new share for every 9 shares held at an issue price of $0.05 per new share. The offer period is from 22 May 2025 to 2 June 2025.

SKS Secures $100M Data Centre Contract

SKS Technologies Group Ltd (ASX: SKS) has been awarded a $100 million data centre project with major construction company Erilyan Group. The project, located in Melbourne's western suburbs, is for a third facility, Building C, for an international hyperscale data centre operator. This follows the successful completion of contracted works for Buildings A and B.

SKS Technologies Delivers Strong Results

In its investor presentation, SKS Technologies Group reported continued strong growth in its traditional revenue base, with data centre revenue now 22.8% of FY24 sales. The company has a dual strategic focus on organic growth and opportunistic acquisitions, with a rapidly accelerating pipeline of opportunities, currently totaling $492 million in open tenders. SKS provided FY25 guidance of ~$260 million in revenue and PBT of $18 million+.

Fortescue Provides Iron Bridge Update

Fortescue Ltd (ASX: FMG) has provided an update on the staged ramp-up of its Iron Bridge magnetite operation. The company anticipates Iron Bridge shipments of 10-12 million tonnes in FY26 and for the operation to achieve an annualised production rate of 16-20 million tonnes in H2 FY27. Fortescue targets achieving Iron Bridge's nameplate capacity of 22 million tonnes per annum in FY28.

Fortescue Announces Leadership Transition

Fortescue Ltd has announced a refinement of its leadership structure. Dino Otranto will assume an expanded role overseeing global electrification, decarbonisation, and hydrogen production. Agustin (Gus) Pichot has been appointed CEO of Growth and Energy, responsible for green energy development and growth projects. Fortescue also announced the retirement of CEO Energy Mark Hutchinson and Chief Operating Officer Shelley Robertson.

GQG Partners Delivers Strong 2024 Results

GQG Partners Inc. (ASX: GQG) has reported strong financial performance in 2024, with 50% growth in net operating income, net income, and earnings per share. The company's funds under management increased by 27% to $153 billion, driven by $20.2 billion in net flows. GQG also paid dividends of $0.1367 per share, representing a 90% payout ratio of distributable earnings.

RPM Automotive Expands Tyre Recycling Capabilities

RPM Automotive Group Limited (ASX: RPM) has announced the opening of its new tyre recycling facility, which is now fully operational. The company also provided a trading update, reporting a 1.4% increase in Q3 FYTD sales revenue to $89.9 million and an 8.2% increase in EBITDA to $9.5 million. For FY25, RPM has provided guidance of reported revenue of $120 million and EBITDA between $12 million and $13 million.