Latest It Services News

Coventry Group Ltd reported a challenging FY25 with a 1.7% revenue decline and a 40.9% drop in underlying EBITDA, culminating in a $29.6 million net loss. The company is now targeting over $20 million EBITDA in FY26 through aggressive cost reductions and operational recalibration.

Assetora Limited reports a dramatic 54% reduction in net losses and strengthens its balance sheet, setting the stage for growth with the reopening of the DomaCom Fund.

Assetora Limited reported a reduced loss of $3.35 million for FY2025 despite an 18% revenue decline, focusing on capital raising and fund growth to stabilize operations.

AVADA Group Limited reported a revenue decline and a $9.7 million impairment on its New Zealand operations in FY25, while completing Phase 1 of its business transformation including ERP implementation and operational consolidation.

Prophecy International Holdings reported a 5% revenue decline and a 53% increase in net loss for FY25, while advancing key product developments and announcing a transformative merger with Complexica.

Iris Cairns Property Pty Ltd has lodged a bidder’s statement for an all-cash $3.87 per unit takeover offer for Reef Casino Trust, securing unanimous recommendation from the trust’s board and major unitholders. The offer, representing a significant premium, awaits regulatory approvals and closes in March 2026.

ZMM has reported a significant turnaround with a $815,877 net profit for FY2025, reversing last year’s $3.25 million loss, though net tangible assets per security have halved and auditors flag going concern uncertainty.

Locality Planning Energy Holdings reports a 79% rise in group profit excluding impairment, signaling a pivotal transformation as it outlines ambitious FY2026 growth plans.

Streamplay Studio’s FY25 preliminary results reveal a striking 121% income surge, driven by the strategic acquisition of North American game studio Noodlecake, positioning the company for a $10 million annual income trajectory.

Mad Paws Holdings has completed the divestment of its Pet Chemist business and announced the resignation of Executive Director Howard Humphreys, advancing its proposed acquisition by Rover Group.

Nexion Group Ltd has reported a significantly reduced net loss for FY25, driven by major asset sales and a strategic pivot towards AI and business intelligence. The company’s divestments are expected to strengthen its balance sheet and provide steady cash inflows.

TZ Limited reported a challenging FY25 with a $3.52 million net loss, impacted by integration costs and US tariff disruptions. Despite setbacks, the company completed the Keyvision acquisition and anticipates a strong revenue rebound in FY26.