Company Interview / Market Update | ResMed, SoulPatts, Brickworks, Downer, Bellevue Gold, Star

ResMed has beaten fourth-quarter earnings forecasts on strong demand for its sleep apnea devices ... and has also forecast higher-than-expected gross margins for the year ahead. ResMed, which is dual-listed on New York and the ASX, booked net profit for the full-year ending June 30 of US$1.4 billion, up 37% on the previous year, while revenue increased 10% to US$5.1 billion.

Soul Patts expects its pre-tax net asset value to come in between $12.2 billion and $12.7 billion for FY25, up from $11.8 billion a year earlier. Net cash flow from investments is forecast to rise to between $485 million and $535 million, compared to $468 million in FY24.

Meantime Brickworks, which is merging with Soul Patts, has declared a fully franked final dividend of 48.4¢ per share for the year - it will be paid regardless of whether the merger proceeds.

Downer EDI has been awarded a new defence contract worth $220 million. The agreement to start on the first of September.

Bellevue Gold says it is expecting its gold production in FY26 to reach 130,000 - 150,000 ounces, and ramp up further from there. Quarterly production is expected to rise through the year as underground production rates benefit from multiple work areas and increased knowledge of the mines.

Shares in Star are tanking after it sais it is considering alternative options for its 50% stake in Brisbane's new Queen's Wharf casino and hotel complex, after its Hong Kong-based investors declined to extend a key deal deadline. Star said key commercial issues remained unresolved by the deadline, and a last-minute request to extend talks was rejected.