Daily Roundup

Crimson Australia Completes Takeover of Kip McGrath

Crimson Australia has crossed the finish line on its acquisition of Kip McGrath Education Centres, triggering a compulsory acquisition process for remaining shareholders. The subsidiary of Crimson Consulting Limited now holds over 90% of Kip McGrath shares and has secured enough acceptances to move forward with acquiring the rest. Shareholders who already accepted the off-market takeover offer at A$0.75 per share will see their cash within 10 business days, while holdouts will receive their consideration once the compulsory acquisition wraps up.

Goodman Group Kicks Off FY27 on Strong Footing

Industrial property giant Goodman Group is off to a solid start in the new financial year. The company's portfolio has ballooned to $90.0 billion, with an annualized production rate hitting approximately $7.5 billion. Like-for-like net property income grew 4.0% annually, and the portfolio is running hot at 95.5% occupancy. On the data centre front, Goodman's power bank has expanded to 6.6 GW, with 3.6 GW already locked in. Management is guiding for 9% operating earnings per security growth this year and flagging a distribution target of 30.0 cents per security. The company sees constrained supply and growing demand continuing to fuel rental growth and development opportunities globally.

Orcoda Lands Major Transport Contract

Transport technology specialist Orcoda has inked a three-year deal with Linked Community Services, one of NSW's largest community transport providers. The contract, worth approximately $500,000, will boost Orcoda's annual recurring revenue and sets up a strong start to the second quarter of FY27. This builds nicely on Orcoda's previously announced $14.7 million ARR, and the partnership should help drive efficiencies across Linked's fleet using Orcoda's Transport360 platform. The win could also open doors with other community transport operators in the region.

City Chic Collective Turns a Corner

Fashion retailer City Chic Collective is seeing green shoots after tightening its belt. Over the 18 weeks to November 1, the company posted improved sales momentum in ANZ, with full-price store sales climbing 19.6%. By cutting back on promotions—particularly online—City Chic expanded gross margin dollars by 2.2%, even as overall group revenue dipped 1.7%. The company is now expecting to deliver positive EBIT in the first half of FY27, though it's keeping one eye on how the critical Black Friday and Christmas trading period plays out.

Manuka Resources Ramps Up Gold Production

Mining company Manuka Resources is hitting its stride at the Wonawinta gold and silver processing plant in NSW's Cobar Basin. October saw the company record A$3.91 million in gold sales, comprising 651 ounces of gold and 1,443 ounces of silver across three deliveries to ABC Refinery. With four precious metals deliveries planned for November starting November 6, Manuka expects weekly volumes to keep climbing as gold inventories build—subject to the usual operational hiccups that come with mining.