Latest Turnaround News

Cullen Resources posted a $340,251 FY2026 profit after selling its Wyloo iron ore royalty for $1.5 million. The result came with a qualified audit opinion over its remaining iron ore-related assets and a warning that further capital raisings will be needed.

Beam Communications has returned $13.3 million to shareholders after completing the ZOLEO divestment, while its continuing operations moved back into profitability. The turnaround comes with a sharp revenue decline and management warning that FY27 revenue and profit will be lower than FY26.

PPK Group has converted the sale of its Craig International Ballistics stake into a substantially stronger balance sheet, reporting a $19.2 million FY2026 profit and $27.7 million in cash. The challenge now is turning that one-off windfall into a durable operating business without overpaying or losing patience.

BOA Resources says it is unaware of undisclosed information behind a sharp increase in trading, despite further Ricci Lee assay results remaining pending through October. The company attributed the move to investor reaction to its recent high-grade copper announcement.

Ramsay Health Care delivered stronger FY26 earnings, a higher fully franked dividend and improved Funding Group leverage as it prepares to separate Ramsay Santé. The proposed demerger remains conditional, but the company has set a clear timetable for the next phase of its portfolio reshaping.

Prospect Resources has taken its flagship Mumbezhi Copper Project to 208.1 million tonnes, while lifting ownership to 90% and securing A$45 million for the next phase of work. The project remains pre-production, leaving the upcoming Scoping Study and further drilling to convert geological scale into an economic case.

Nick Scali delivered a sharp recovery in FY26 earnings, with net profit rising 31.2% to $75.7 million as gross margins widened and the UK loss narrowed. The furniture retailer is entering FY27 with a larger showroom network, a new distribution centre and four further ANZ openings planned.

KALiNA Power returned to profit in FY2026 after booking A$19.6 million from the sale of a 180 MW Alberta load allocation linked to Meta. The company now has A$12.3 million in cash and four gas-fired power projects targeting about 900 MW, but future progress depends on fresh capital and project approvals.

49 Metals will begin a 3,500-metre follow-up drilling program at its Gold Mountain project in Nevada in October, targeting extensions of the Adit Zone discovery. The campaign is fully funded and follows a maiden program in which all 22 holes intersected gold and/or silver mineralisation.

Frontier Digital Ventures has shrunk its top line by 27% as it exits low-margin businesses, but the reset delivered higher EBITDA, a 17% margin and near-total free cash flow conversion in the first half of FY2026. The next test is whether pricing and cost discipline can lift earnings without further customer erosion.

Michael Hill International has returned to profit growth and restored its dividend after a year of sharper execution, brand simplification and stronger cash generation. Record revenue and a 57% rise in comparable EBIT mark a meaningful recovery, although the reset remains unfinished.

Many Peaks Minerals has extended the tested vertical depth of gold mineralisation at its Ferké project by about 70%, with a deepest intercept returning 40.3 metres at 3.89g/t gold. The results support a planned resource update and preliminary assessment of underground mining, but remain exploration results outside the current resource.