Daily Roundup

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Improved Terms for Austin's Chile OEM Contract

Austin Engineering has successfully re-negotiated its Chile original equipment manufacturer (OEM) contract, securing better pricing and payment terms. The previous contract had been loss-making, but the new agreement is expected to return the contract to targeted profitability. The revised pricing and terms will take effect from May 2026, with an initial $6.7 million purchase order. Austin expects the relationship with this strategic customer to continue beyond this initial order.

Turners Automotive Upgrades Earnings Guidance

Turners Automotive Group has upgraded its earnings guidance for the year ending 31 March 2026. Based on strong trading performance across its core business divisions, the company now expects net profit before tax (NPBT) to be around $63 million, up from previous guidance of 'around $60 million'. The positive summer trading included strong vehicle sales volumes and improved margins in the Auto Retail division, as well as continued growth in the Finance lending business.

Changes to InterPrac Financial Planning

Sequoia Financial Group has been notified that platform provider HUB24 will cease accepting new business from advisers operating under Sequoia's InterPrac Financial Planning AFSL, effective 31 March 2026. This decision will not impact existing client accounts or adviser remuneration. Sequoia is engaging with stakeholders to manage the transition and support affected advisers.

Horizon Oil Launches Takeover Bid for Cue Energy

Horizon Oil Limited has released a replacement Bidder's Statement for its off-market takeover bid for all the ordinary shares in Cue Energy Resources Limited that Horizon does not already own. The offer consideration is a combination of $0.008 cash and 0.5625 Horizon shares per Cue share. The offer is open from 19 March 2026 until 5 June 2026, unless extended or withdrawn.

Star Minerals Completes West Bryah Project Sale

Star Minerals has completed the sale of its West Bryah copper-gold project to Catalyst Metals for $2.75 million, comprising $1 million cash and 230,536 CYL shares. Catalyst Metals has also made a $1 million strategic placement in Star Minerals, providing additional funding to advance the company's flagship Tumblegum South Gold Project towards production in early 2026.