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Asia
Codan Raises Fiscal 2026 EBIT Guidance; Shares Climb 13%
Codan (ASX:CDA) now expects earnings before interest and tax (EBIT) for fiscal 2026 of about AU$235 million and net profit after tax of about AU$170 million, representing an increase of over 60% for both measures versus fiscal 2025, according to a Wednesday Australian bourse filing.The company said its communications business is expected to achieve revenue growth at the top end of the 15% to 20% range for the fiscal year, with the segment now expected to achieve a 30% profit margin, ahead of the previously targeted timeline of the end of fiscal 2027.Minelab revenue in the fiscal second half to date is tracking ahead of the strong first-half performance, with the group continuing to expect second-half performance to exceed the first half, the filing added.Codan will release its fiscal 2026 results on Aug. 20.The company's shares surged 13% in recent Wednesday trade.
$ASX:CDA
Asia
Regis Healthcare Appoints Andrew Kinkade as CEO
Regis Healthcare (ASX:REG) appointed Andrew Kinkade as managing director and CEO, according to a Wednesday filing with the Australian bourse.Kinkade, currently the managing director of Bupa Villages & Aged Care, will succeed Linda Mellors, who has resigned and will complete her notice period on June 19.
$ASX:REG
Asia
G8 Education to Suspend Operation of Around 40 Centers
G8 Education (ASX:GEM) plans to suspend the operation of around 40 of its centers as a result of an assessment of its network, according to a Wednesday Australian bourse filing.It will transition customers to one of the nearby centers and, where possible, redeploy team members. The firm will then consider longer-term options for those centers, including lease surrender, divestment, or other alternatives.The firm will also reorganize its support office structure and reduce its cost base.Its current spot occupancy as of April 24 came in at 56.4%, down 7% year-over-year, while year-to-date occupancy was 56.1%, down 7.9% versus the prior corresponding period.Occupancy across the early childhood education and care sector is lower compared to previous years due to sustained affordability pressures, falling birth rates, increased long-day care supply, and confidence impacted by serious child safety incidents, the filing noted.
$ASX:GEM