Daily Roundup

CGF.ASX CAR.ASX BVS.ASX DES.ASX SSH.ASX

Challenger Confirms Discussions to Acquire Pepper Money

Challenger Limited (ASX: CGF) has confirmed it has been engaging in discussions to potentially partner with Pepper Group to acquire Pepper Money Limited (ASX: PPM). The proposed transaction would provide Challenger with strategic, long-term rights to access fixed income assets to support its growth and returns.

Under the deal, Pepper Group would initially acquire an interest in the acquiring entity that is at least equal to its current stake in Pepper Money. The transaction is expected to be structured as a scheme of arrangement, with Challenger holding no more than 25% of Pepper Money shares.

Challenger emphasized its commitment to disciplined capital allocation and stated it has no intention to raise common equity to complete the transaction. The company believes any deal for Pepper Money would be strategic and accretive to its earnings per share.

CAR Group Delivers Excellent First Half Results

CAR Group (ASX: CAR) has reported outstanding financial results for the first half of fiscal year 2026. Proforma revenue grew 12% in constant currency to $626 million, while proforma EBITDA increased 12% to $339 million.

The company's global portfolio and leading market positions in Australia, North America, Latin America, and Asia continue to drive robust performance. Adjusted net profit after tax also rose 11% in constant currency to $197 million.

Looking ahead, CAR Group expects to deliver excellent growth in FY26, with proforma revenue growth of 12-14% and proforma EBITDA growth of 10-13% in constant currency. The company's strategic priorities, including strengthening its core, extending its marketplaces, and driving operational excellence, position it well for continued success.

Bravura Solutions Upgrades FY26 Guidance

Bravura Solutions Limited (ASX: BVS) has upgraded its fiscal year 2026 guidance due to strong customer engagement and effective cost management. The company now expects revenue between $280 million and $285 million, up from the previous range of $265 million to $275 million.

Cash EBITDA is expected to be between $69 million and $73 million, an increase from the prior guidance of $55 million to $65 million. Bravura also plans to invest more in internal technology, with PPE Capex expected to be around $4 million, up from the previous $2 million to $3 million.

The key drivers behind the improved outlook are increased project engagement with customers across Bravura's business units, which is expected to continue into the second half of the year, as well as effective cost control.

DeSoto Resources Expands Exploration in Guinea

DeSoto Resources Limited (ASX: DES) has acquired three new reconnaissance authorisations in Guinea's Siguiri Basin, expanding its portfolio to 17 projects in the region. The company is currently undertaking a range of exploration programs, including BLEG soil sampling, power auger drilling, and mapping, to generate new targets.

At DeSoto's existing South-Central projects, including Dadjan and Tolé, the focus is on advancing existing targets and opening up new areas for discovery through geochemical programs. The company also plans to complete an airborne magnetics survey to refine exploration targeting.

In the Southeast Siguiri, DeSoto is completing BLEG and soil sampling programs at several permits, following up on historic high-grade drilling results. The company will continue to make new ground applications and acquisitions to expand its footprint in the Siguiri Basin.

SSH Group Secures Pre-Mining Contracts for Gold Duke Project

Western Gold Resources Limited (ASX: WGR) has executed key pre-mining contracts to advance its 100%-owned Gold Duke Project in Western Australia. The company has awarded contracts to SSH Mining Australia Pty Ltd, a subsidiary of SSH Group Ltd (ASX: SSH), for site establishment works, including clearing, grubbing, and haul road delineation.

SSH Mining has also been appointed as the Mine Operator for the Gold Duke Project, supporting WGR's strategy to progress the project efficiently toward production. Additionally, WGR has contracted Pennington Scott Pty Ltd and Delta Consultancy & Drilling Services Pty Ltd to construct the Bower Bird Water Bore, providing a dedicated water supply for mining activities.

These early works represent an important step in transitioning the Gold Duke Project from development into operational readiness, with the company targeting first gold production in Q1 2026.