Daily Roundup

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FY25 Financial Performance Update for Close the Loop Ltd

Close the Loop Limited, the circular economy industry leader, has provided a business update for 2H25, highlighting steady revenue but lower EBITDA due to underperformance in North American refurbishment and ITAD operations. While the packaging businesses in Australia and South Africa have performed well, the Company has identified and is expected to appoint a new Chief Executive Officer for its North American refurbishment and ITAD segment to address the challenges.

HITIQ Announces Exclusive Global Agreement with Shock Doctor

HITIQ, a pioneer in concussion management, announces an exclusive global agreement with Shock Doctor, the world's leading mouthguard brand. This landmark deal will integrate HITIQ's PROTEQT technology into Shock Doctor's high-performance mouthguards, revolutionizing athlete safety worldwide. The co-branded PROTEQT mouthguard, featuring advanced impact sensors, is set to be produced at scale, with plans for 20,000 units in 2025 and 100,000 units in 2026.

Challenger welcomes APRA's capital settings consultation

Challenger Limited welcomes APRA's consultation on capital settings for annuity products, which proposes a more market-sensitive illiquidity premium with appropriate risk controls. This regulatory reform will help develop Australia's retirement income market by promoting innovation, supporting greater take-up of lifetime income products, and enabling greater choice and certainty for retirees. The changes will also improve the financial resilience of life insurers and establish a more favorable environment to grow the annuity market.

Accent Group Provides Trading Update for FY25

Accent Group Limited reports challenging trading conditions in H2 FY25, with lower sales and margin pressure, leading to an expected EBIT range of $108.0 million - $111.0 million for the full year. The company cites low overall growth in the lifestyle footwear market and a disciplined focus on managing inventory levels in a lower sales environment.

Cochlear updates FY25 earnings guidance

Cochlear Limited is updating its FY25 earnings guidance, expecting underlying net profit of $390-400 million. The company anticipates a low double-digit decline in Services revenue, but a 10% increase in cochlear implant units. Cochlear continues to work on identifying and connecting with recipients who could benefit from the latest sound processing technology, and expects initiatives, combined with the introduction of the new Nucleus® Kanso® 3 Sound Processor, to lift Services revenue in FY26.