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Market Roundup: Penthrox Shines, GQG Navigates Outflows, and Ventia Secures Major Defence Contract

Medical Developments International Delivers Strong Q1 Results Medical Developments International reported an impressive start to the fiscal year, with its Penthrox pain management product driving a $1.9 million increase in revenue for the first quarter. The company saw a 26% volume growth in the Australian hospital segment, as it continues to focus on growth initiatives to cement Penthrox as a standard of care and expand its paediatric label in Europe. While the investment in these initiatives and changes to Penthrox distribution in France and Switzerland may result in softer underlying earnings this year, the company is confident these moves will deliver stronger financial performance over the long term.

GQG Partners Navigates Net Outflows Amid Defensive Positioning Global investment manager GQG Partners reported funds under management (FUM) of US$167.2 billion as of the end of September, down slightly from the prior month. The company experienced net outflows of US$1.7 billion for the month and US$4.8 billion for the third quarter, as its sustained defensive positioning led to relative underperformance. However, GQG remains focused on protecting client assets, with management fees still comprising the vast majority of its net revenue, and the team highly aligned with shareholders and clients.

Ventia Secures Lucrative Defence Clothing Services Contract Infrastructure services provider Ventia has been awarded a new $935 million contract to deliver service and support for clothing capability to the Australian Defence Force. The 7-year contract, with options to extend for up to 13 more years, will see Ventia partner with experienced Australian organizations to provide clothing design, supply, warehousing, distribution, and store services. This contract represents a strong endorsement of Ventia's growing presence and expertise in the Defence market, reinforcing its position as a trusted partner.

Queensland Pacific Metals Locks in Gas Turbines for Isaac Power Station Queensland Pacific Metals (QPM) has signed a A$113.7 million Master Lease Agreement with Macquarie Bank to fully fund the acquisition and transport of two gas turbines for its 112MW Isaac Power Station project. This milestone secures the delivery of the generation units and underpins the project's mid-2027 commissioning target. QPM continues to make good progress towards the final investment decision, advancing key activities such as engineering, contract awards, approvals, and grid connection.

Findi Ltd Addresses Social Media Misinformation Findi Ltd has responded to an ASX price query, stating it is not aware of any undisclosed information that could explain the recent trading in its securities. The company also confirmed it will take legal action over false and misleading social media posts made by a former executive of its Indian subsidiary, reiterating its compliance with Listing Rules.