Company Interview / Market Update | Macquarie Group, Bapcor, Fortescue, Lynas, Karoon Energy, Northern Star

Macquarie Group has reported a drop in quarterly profit... AND announced CFO Alex Harvey will step down at the end of the year. At its AGM, Macquarie has told investors Harvey will retire after completing an extended handover to his successor, Frank Kwok, who has been with Macquarie for 28 years and currently serves as deputy CFO.

Bapcor is plummeting in early trade today after it reported a weaker sales results - particularly in May and June. Bapcor is expecting FY25 NPAT to come in between 31 to 34 million dollars. Separately three directors are exiting the business. CEO Angus McKay says significant restructuring has led to a disruption in trading especially the networks segment - he adds that he is confident the business will return to growth after the simplification of operations.

Fortescue has posted record fourth-quarter production and announced it will be scrapping its US and Australian green energy projects. Iron ore shipments rose 3% in the fourth-quarter to 55.2 million metric tonnes, helped by improved processing -- taking total full year shipments to just shy of 200 million metric tonnes -- which was also a record.

Lynas Rare Earths has beat estimates for fourth quarter production. Sales revenue for the quarter ended June came in just over $170 million -- up from $136.6 million last year and above estimates.

Karoon has posted a 7% rise in second quarter revenue to just under $160 million. Karoon yesterday announced CEO Julian Fowles will leave mid-2026 and is on the search for a global CEO.

Northern Star has reported quarterly total gold revenue of just under $2 billion. It had $2.8 to $2.95 billion cash earnings as of the end of FY25 ... up from last year's $1.8 billion.