ASX live updates: All the latest news from company reporting season on the Australian market

Inflation has bounced back sharply in fresh monthly data just one day after the Reserve Bank signalled a fourth interest rate cut was likely within months.

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Embattled casino company Star Entertainment is again embroiled in financial chaos, this time over a $430m loan.

“In its half-year results announcement to the ASX on April 15, 2025, the company noted that it continued to rely on the support of its lenders under the senior facility agreement, including of likely covenant waivers post June 30,” Star said.

“Accordingly, The Star has been, and continues to be, in discussions with the SFA lender group in respect of potential covenant waivers for September 30 and December 31 2025.

“The SFA lender group has proposed various terms in exchange for providing the requested covenant waivers, which, in aggregate, are unacceptable to The Star.”

The company’s failure to secure waivers means it is now struggling to lodge audited financial results for the 2025 financial year, though it said it would likely lodge unaudited accounts with the ASX on Friday.

Star operates casinos in Brisbane, Sydney and the Gold Coast.

In July last year, the company boasted a market capitalisation of $1.5bn.

Now it is valued at $280m, with its shares trading at 10c.

The gaming giant is running out of cash and confronting a severe downturn in revenues as an exodus of high rollers and cost-of-living pressures hit the business.

It is also battling a tangled swirl of corporate watchdog investigations and penalties for serious failures at its operations.

In October 2022, the NSW Independent Casino Commission imposed a $100m fine on Star after finding the company had allowed money laundering to take place at its Sydney casino.

By Newswire.

Investors have not taken kindly to Domino’s full year results.

Shares in the company were down more than 20 per cent in early trade, changing hands at about $15.27.

It comes after the pizza making and delivery business posted a $3.7 million loss for the 2025 financial year following a $96m profit the year prior.

Market Analyst at eToro Josh Gilbert said the results had delivered “more disappointment.”

He said “leadership instability” continued to cloud the investment case for the business and “only deepens the problem”.

“In the space of a year, long-serving CEO Don Meij retired, his successor Mark van Dyck stepped down after only months, and investors are still waiting for a clear strategy. A revolving door in the boardroom makes it harder for investors to buy into a long-term growth story.”

“Quick fixes like store closures and simplified menus may ease the pain, but winning back customers and rebuilding profitability will take time.”

He said the market would likely be encouraged by a renewed focus on cost savings and tighter capital discipline, and said the call to only open new stores when profitability is sustainable as “sensible.”

Mr Gilbert said the turnaround was “a tough task at hand and said “a strong leader is needed.”

“This isn’t going to be an overnight turnaround, with rising costs, delivery platform competition and pressure on franchisees, confidence won’t be easily restored.”

Wholesale mortgage broker Australian Finance Group expects good lending conditions to keep supporting profit into the 2026 financial year.

AFG lifted net earnings 21 per cent to $35 million in the 12 months to June 30, backed by $63 billion of residential settlements across its 4200-strong national network of brokers.

It said Australia’s housing finance continued to gain momentum, thanks to tight home supply and strong employment.

“With interest rates falling, the environment is conducive to increased home loan activity,” managing director David Bailey said.

The company will pay a final dividend of 5.3 cents

Tabcorp reported a 76.8 per cent uplift in its net profit excluding one-off items, and returned to a $36.6m statutory profit from a $1.3 billion loss the year prior.

Revenues grew 11.8 per cent to $2.61 billion on a stronger year for its betting business, and after Tabcorp managed to secure a new wagering licence in Victoria.

Group EBITDA was higher by 23.2 per cent to $391.5m.

The group pushed down operating costs by 2.4 per cent, or $39m, and capital expenditure was down by $35m as part of an “aggressive” savings drive.

Chief executive Gillon McLachlan said the result represented “a fitter company.”

““We have increased our wagering and media capability at the leadership level, developed a simpler, more cost-effective operating model and are operating with a bias for action and increased accountability.”

Asset and remediation business Duratec is aiming to tap increased defence spending in WA after rolling out some record financial numbers for the 2025 financial year.

The group worked on more than 40 defence bases across the country over the 12 months, including upgrades at HMAS Stirling.

“These projects, and the $8 billion earmarked for defence infrastructure in WA, represent long-term, high value opportunities that will provide a robust pipeline for the 2026 financial year and shape Duratec’s defence pipeline for years to come,” managing director Chris Oates said.

Revenue rose 3.1 per cent to a record $573 million, with defence accounting for $181.4m, while net profit was $1.4m better at $22.8m.

Duratec focuses on extending the life of steel and concrete structures, including bridges, mining plants and heritage buildings.

Directors declared a final dividend of 2.5 cents, making 4.25 cents for the year.

Debt management company Pioneer Credit says it delivered on its promises with a return to the black in the latest financial year.

The group recorded a $6.7 million net profit for the 12 months to June 30 after a $10m loss previously, with “normalised” earnings surging to $10.5m from $1.2m.

“The 2025 financial year was the year we promised to deliver,” Pioneer founder and managing director Keith John said.

With earnings beating guidance “and the one-off costs of the past two years behind us, Pioneer has re-established itself as a profitable and resilient business”, Mr John said.

“We how have the platform, scale and funding strength to grow on this performance.”

Pioneer buys portfolio of consumer debt from the big banks and then works with customers to bring their obligations under control.

It said collections from customers in the year rose 1 per cent to $142.2m.

No dividends were declared for the year.

Core Litihum has locked its shares in a trading halt while it gears up for an announcement regarding a capital raise.

The lithium developer was forced to hit the stop button at its Finniss mine in the Northern Territory in 2024 as the battery metals downturn struck down Austalian producers.

Since then the company has been waiting for the market to return and trying to firm up the prospects of a restart. It has also been hunting for potential suitor to help bankroll the development and was looking for $200 million to do so back in May.

“Coreis undertaking a capital raising and the trading halt is requested pending an announcement to ASX regarding the capital raise,” its statement to the market said.

Details of the raise are expected on or before Friday.

The listed logistics tech provider booked a 17 per cent lift in net profit for the year on the back of a strong performance from its ‘CargoWise’ software.

WiseTech reported a US$200.7m after tax profit for the year, compared to US$172.3m in the year prior, while revenue ticked up 14 per cent to US$778.7m.

EBITDA of $US381.6m was up 17 per cent.

The Richard White-led company will pay out a 7.7c final dividend.

WiseTech has factored in large growth targets for 2026, expected revenue to rise to between $US1.39 billion and $US1.44b.

Woolworths has posted a 17 per cent decline in full-year net profit, dragged down by the poor performance of its Australian supermarkets and discount department chain Big W.

Sales in the flagship Australian food business lifted 3.1 per cent to $51.45 billion in the 2025 financial year, as earnings hit $2.75b, more than a 10 per cent decline on a normalised basis accounting for an extra week of trade in 2024.

Big W posted a loss of $35 million last year compared with an earnings before interest and tax of $14m in in 2024.

Chief executive Amanda Bardwell said Big W had a challenging year, particularly in clothing.

She conceded there was “more to do” to improve the group’s overall performance.

Woolworths posted a 3.6 per cent lift in full-year revenue to $69.08b.

However, it recorded a 17.1 per cent decline in normalised net profit to $1.39b, accounting for an extra week of trade in 2024 and before significant items.

Woolworths declared a final dividend of 45¢ per share, down from 57¢ a year ago.