Latest Winding Up News

HMC Capital delivered FY26 operating earnings in line with guidance while statutory results swung to a $111.6 million loss. The alternative asset manager is targeting at least 35 cents of underlying earnings per share and a 15 cents dividend in FY27.

MGX Resources has reported a $30.2 million FY2026 net loss as it winds down Koolan Island and redirects its balance sheet towards the 50%-owned Central Tanami gold project. The company still held $412.1 million in cash and investments at year-end, but its next phase will require execution across approvals, drilling and underground development.

Symal has reaffirmed its FY27 guidance and raised its FY30 EBITDA ambition to more than $230 million, while pointing to $1.9 billion of work-in-hand and a $9.1 billion tendered pipeline. The contractor is increasingly leaning into energy, digital infrastructure, utilities and defence, with about 75% of FY27 revenue already secured.

GenusPlus has won approximately $255 million of power infrastructure work from Western Power and Fortescue, extending its project pipeline into 2029. The awards span renewable energy connections, network maintenance and mine-site decarbonisation infrastructure, although individual contract values and margins remain undisclosed.

Otto Energy has strengthened its balance sheet and lifted FY2026 profit despite falling production, setting up a proposed A$20 million return of capital. The catch is that reserves are declining, asset-sale plans remain unresolved and part of the cash remains tied to offshore obligations.

Mercury NZ posted a 19% increase in first-quarter trading margin to $445 million despite hydro inflows falling to the second percentile. New wind and geothermal output helped offset weaker hydro generation, while major renewable projects moved closer to full operation.

Kinetiko Energy is preparing to submit a permit that could allow limited gas sales from its Brakfontein project in early 2027, while engineering, procurement and drilling plans advance in parallel. The company has also shortlisted three candidates for its next chief executive.

Vitura Health has opened FY2027 with a sharp improvement in EBITDA and lower operating costs, while revenue growth continued across its digital health businesses. The figures are unaudited, and the company still needs to prove that the improvement can survive the wind-down of Bupa-related telehealth volumes.

Boom Logistics has secured an expected $18 million, 35-week contract to provide crane services for Neoen’s 179 MW Narrogin Wind Farm in Western Australia. The award gives its FY27 wind division an early revenue platform, although the announcement does not disclose margins or earnings contribution.

Wide Open Agriculture has completed a study for a proposed 10,000-tonne-per-year lupin protein facility with indicative annual revenue of A$240 million to A$295 million. The project remains unfunded, unapproved and years from production, leaving contract manufacturing as the immediate test of the company’s strategy.

xReality Group has identified unaudited adjustments that deepen its FY26 loss by $5.79 million and cut net assets from $14.0 million to $6.7 million. Customer revenue and cash flow are unchanged, but trading is suspended until the audit and amended accounts are completed.

Altech Batteries reported a $43.4 million FY2026 loss after abandoning its two major German battery projects, while its CERENERGY subsidiary filed for insolvency and a proposed Malaysian asset sale fell through. The company now faces substantial doubt about its ability to continue as a going concern.