Company Interview / Market Update | Wesfarmers, Novonix, Fortescue, Dexus, GQG Partners, Ventia, AFT Pharmaceuticals

Wesfarmers (ASX: WES) boss CEO Rob Scott says Tuesday's rate cut is welcome news - but has acknowledged that many consumers are still doing it tough. At the company's investor briefing today Scott said ... “The rate cut .... will ease pressure not only for households, but many businesses that are important customers of ours and while this is positive, we know that it will take some time for this to flow through.” Meanwhile Scott says the the full impact of US tariffs on its battery value chain remains unknown. Wesfarmers is expecting lithium pricing to remain depressed in the short-term as the market remains oversupplied. It now expects losses at its lithium business to be around $60 million, up from its prior guidance of $48 million. Separately -- CEO Rob Scott says six of the planned 10 new Officeworks stores in FY26 will be net new stores. And Wesfarmers is continuing to roll out its popular Anko brank -- with Scott saying there are plans to open more Anko-branded stores in the Philippines.

Novonix (ASX: NVX) shares are spiking ... as the battery tech company welcomed a decision from the US Commcer Department to place up to 721% tariffs on Chinese graphite. CEO Michael O'Kronley says Novoniz is encouraged by the decision ... saying 'it is an important step in supporting the United States’ goal of developing critical mineral supply domestically for increased energy independence."

Fortescue (ASX: FMG) says it's on track to meet its full-year guidance for shipments and operating costs from Iron Bridge, its joint venture project with FMG Magnetite and Formosa Steel. Iron Bridge is a magnetite mining operation, 145km south of Port Hedland. The iron ore miner is aiming for Iron Bridge shipments of 10 to 12 million tonnes in the 2026 financial year and expects the operation to reach an annualised production rate of 16 to 20 million tonnes in the second half of FY2027.

Dexus (ASX: DXS) will contest the validity of a notice filled by the Australia Pacific Airports Corporation against the company, which accuses Dexus of breaching confidentiality rules. The New South Wales Supreme court will hear the case in August this year. - and Dexus says it will pay any damages to impacted parties if its claim is not successful.

GQG Partners (ASX: GQG) is holding its AGM today. It's reported a net flow of $6 billion through the four months to the end of April, and CEO Tim Carver said the company aims to be agile against a volatile global environment.

And Ventia (ASX: VNT) has reaffirmed its FY25 guidance at its AGM. Ventia forecasts a 7 to 10% growth in net profit after tax.

AFT Pharmaceuticals (ASX:AFP) has today reported record revenue for FY25.