These are the ASX companies and sectors making headlines in afternoon trade.
Plenti Group (ASX: PLT) – Shares in the fintech lender rallied 10.5% after the company reported "exceptional originations growth" for the December quarter. Key highlights include:
Record quarterly loan originations of $383.3m, up 32% year-on-year
Loan portfolio up 16% to $2.4bn
Annualised net credit losses of 103 bps vs. 117 bps the prior quarter
Quarterly revenue up 21% to $65.7m
Continue profitability momentum to deliver full year and half-on-half Cash NPAT growth
Pilbara Minerals (ASX: PLS) – Shares ticked 4.8% higher after the company reported a relatively clean sweep of better-than-expected quarterly production numbers. Key highlights for the December quarter include:
Production down 14% QoQ to 188.2kt but 1.5% ahead of 185.3kt consensus
Shipments down 5% QoQ to 204.1kt but 9.3% ahead of 186.6kt consensus
Realised price of A$700 a tonne or 4.0% ahead of $673.1 consensus
Unit operating cost of $621 a tonne missed expectations by 2.5%
Star Entertainment (ASX: SGR) – Shares in the embattled casino operator rallied 6.0% after the company announced plans to divest its Sydney Event Centre and additional spaces within The Star Sydney Complex to Foundation Theatres for $60 million.
Gold miners rallied amid a solid uptick in gold prices overnight, up 0.85% to US$2,765 per ounce. In Aussie dollar terms, the gold price hit a record high of A$4,436 amid a stronger US dollar. Gold stocks leading the charge include Bellevue Gold (+7.6%), Alkane Resources (+4.7%), Catalyst Metals (+4.0%), Emerald Resources (+3.6%), and Perseus Mining (+3.4%).
Uranium stocks bounced back after experiencing a broad-based selloff on Tuesday, where most names finished the session down 10-15%. Stocks including Boss Energy (+12.3%), Bannerman Energy (+8.2%), and Aura Energy (+7.6%) are trending higher on Wednesday
Playside Studios (ASX: PLY) – Shares in the video game developer tumbled 40.7% after reporting weaker-than-expected first-half FY25 numbers and an unexpected downgrade to its full-year outlook. Key highlights include:
First-half FY25 revenue down 21% to $28.5m vs. $30m estimates
Full-year revenue guidance between $50-54m compared to prior guidance of $62-68m
Full-year EBITDA guidance between -$10m and -$6m compared to prior guidance of $0-5m
Close the Loop (ASX: CLG) – Shares in the recycling company dipped 37.1% after the company failed to reach an agreement with Adamantem Capital over its takeover bid for $0.27 per share. CLG also provided a first-half FY25 trading update, which flagged EBITDA expectations of $11-13m, compared to $22.6m a year ago. The earnings drop was driven by factors including a temporary unfavorable shift in business mix and a delay in the opening of the Mexicali facility.
Autosports Group (ASX: ASG) – Shares dipped 4.5% after the company said it expects to deliver 1H25 net profit before tax of $20 million, compared to prior guidance of $28 million. "New vehicle trading conditions were challenging in November and December 2024, leading to lower-than-anticipated new vehicle revenues for this period," the company said in a statement.
Accent Group (ASX: AX1) – Shares eased 2.5% after the company provided a mixed first-half FY25 trading update, including:
EBIT to be "around $80 million", which includes a net positive impact of $3.3m from one-off items
Total group sales up 4.6%
Like-for-like sales up 2.9%, but decelerating in weeks 21-26 of the year to 1.8%
First-half gross margins down 100 bps compared to prior expectations of a 70 bp drop
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