Latest It Services News

DGL Group reported a modest revenue increase in FY25 but faced a sharp decline in profitability, compounded by an auditor’s disclaimer and ERP rollout delays impacting FY26 start.

Cann Group Limited has announced a dramatic 81% reduction in core debt alongside a strategic pivot to higher-margin flower products, positioning the company for its first EBITDA-positive year in FY26.

Lynch Group Holdings confirms Federal Court approval of its acquisition scheme by Darwin Aus Bidco, with shares suspended and a cash payout scheduled. Shareholders await the next steps as the deal moves toward implementation.

MyState Limited has reached a pivotal merger milestone by consolidating Auswide Bank under its single banking licence, aiming to unlock significant cost synergies while maintaining customer continuity.

Excite Technology Services Limited reported a remarkable 370% revenue increase to $13.54 million for H1 FY2026, driven by strong growth across its cybersecurity, digital forensics, and IT managed services divisions. However, losses widened 43% to $2.51 million, reflecting restructuring and scaling costs, while the company secured $2.1 million in convertible notes to support its growth ambitions.

Ryzon Materials Ltd has lodged a prospectus to raise up to $10 million through a share placement with free-attaching options, aiming to meet ASX conditions for lifting its securities suspension and advancing its Nachu graphite project.

L1 Group Limited has successfully closed its Share Purchase Plan, raising the targeted $25 million despite demand exceeding $31.9 million. The company will issue over 26 million new shares, with scaled allocations to balance shareholder equity.

Polymetals Resources has bolstered its financial position with new loan facilities and option exercises following a fatal incident at its Endeavor Mine, which has now resumed continuous operations.

Prime Financial Group has reported robust FY25 results, doubling its revenue run rate and expanding its high-net-worth client base through strategic acquisitions. The company sets ambitious growth targets for FY26 and beyond, underpinned by technology investments and leadership enhancements.

Emeco Holdings has refinanced its long-term debt with a new A$355 million facility, extending maturity and improving terms to support future growth.

Aquirian’s subsidiary TBS Mining Solutions has inked a $4.2 million deal with Papyrus Australia to manufacture biodegradable Collar Keeper® products, marking a significant step in sustainable mining practices.

Papyrus Australia has secured a $4.2 million contract to manufacture biodegradable Collar Keeper® products for the mining sector, marking its shift from R&D to commercial production. The agreement with TBS Mining Solutions sets the stage for sustainable innovation in mining operations.