Equities

MAD reported its 12th consecutive quarter of revenue growth. Quarterly revenue of $173m resulted in FY23 revenue of $609m, in line with our expectation and MAD’s twice-upgraded full year guidance of >$580m.

Regal Partners released a Q2 update showing June FUM of $5.8bn, rising from $5.5bn at the end of March.

EGL has provided a trading update for FY23e ahead of Bell Potter forecasts.

As fiscal year 2023 closes out, a review of the final quarter showed some notable highlights─the most significant of those being the sheer resilience of world equity markets in spite of encountering some very significant headwinds.

Eagers announced it has increased its interest in EV Dealer Group Pty Ltd – the national retail joint venture for BYD – from 49% to 80% effective 3rd July, 2023.

We have reviewed our earnings forecasts for FMG in light of higher-than-forecast iron ore prices, which we increase by 4% for FY23 on a marked-to-market basis.