The L1 Gold Fund Ltd (ASX: LGF) share price came into focus today after the company released its inaugural FY26 results.

What did L1 Gold Fund report?

• Loss after income tax: $71.1 million (first reporting period since IPO)
• Total investment losses: $92.5 million
• Portfolio net return: -10.90% (April to June 2026)
• No dividends declared or paid during the period
• Net tangible asset backing per share (post-tax): $1.8482
• Basic and diluted loss per share: 14.97 cents

What else do investors need to know?

L1 Gold Fund officially listed on the ASX in April 2026, raising $950 million in its IPO. The first reporting period coincided with a sharp 17% decline in the gold price, driven by geopolitical tensions, shifting interest rates, and heavy defensive selling.

Despite a challenging debut, the Investment Manager used active stock selection and hedging strategies, such as a physical gold short position, to cushion portfolio performance relative to sector declines. Management capitalised on the sector sell-off by adding high-conviction, mid-cap gold producers and late-stage developers to the portfolio.

On 24 August 2026, the company announced a capital raising comprising a non-underwritten placement of up to $160 million and a 1-for-3 non-renounceable entitlement offer at $2.25 per share. This offer remains open, with completion pending further updates.

What did L1 Gold Fund management say?

Chairman Andrew Larke said:

In an exceptionally volatile environment for gold and mining equities, our portfolio return of -10.90% compared to a decline of nearly 20% for the sector reflects the resilience of our investment strategy. While the initial period of performance is disappointing, we remain confident in the long-term opportunity for quality gold equities. We thank shareholders for their ongoing support and patience.

What’s next for L1 Gold Fund?

The company’s investment manager remains optimistic about the longer-term case for gold and quality gold equities, with ongoing central bank buying and elevated geopolitical risks expected to support the gold price. The current capital raise is aimed at expanding the portfolio to capture what management views as compelling valuations across mid-cap producers and late-stage developers.

L1 Gold Fund plans to maintain its focus on strong research, portfolio discipline, and active risk management to navigate further market volatility. The next Annual General Meeting will be held on 10 November 2026.

L1 Gold Fund share price snapshot

Over the past 12 months, L1 Gold Fund shares have risen 19%, outperforming the All Ordinaries Index (ASX: XAO), which is flat over the same period.

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The post L1 Gold Fund posts debut FY26 result and capital raise update appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Ventia Services Group Ltd (ASX: VNT) share price is in focus today after the company delivered higher profits and margins, with NPATA up 7.4% to $128.2 million, and an increased, now fully-franked, interim dividend.

What did Ventia Services Group Ltd report?

• NPATA rose 7.4% to $128.2 million
• EBITDA up 8.2% to $273.3 million; margin improved to 9.4%
• Revenue declined 4.7% to $2.9 billion
• Work in Hand increased 2.5% to $21.1 billion
• Operating cash flow conversion of 93.8%
• Interim dividend up 9.8% to 11.76 cents per share, now 100% franked
• On-market buyback program upsized to $300 million

What else do investors need to know?

Ventia saw growth in three of its four key sectors, despite a one-off contract change reducing Defence revenue. The company secured seven significant contract wins and renewals, together worth $1.6 billion, improving future revenue visibility.

Safety and sustainability remain priorities for Ventia, with a 17% improvement in Total Recordable Injury Frequency Rate since HY22 and a 27.2% reduction in Scope 1 and 2 emissions from the 2021 baseline. The ongoing share buyback has so far returned $185.8 million to shareholders and has now been upsized further.

What did Ventia Services Group Ltd management say?

Managing Director and Group Chief Executive Officer Dean Banks said:

Ventia delivered resilient performance in HY26, achieving margin expansion and earnings growth despite lower revenue growth in Defence. This reflects our focus on productivity and a proactive focus on continuous improvement across our portfolio.

“During the half, we secured seven material contracts worth $1.6 billion and achieved an exceptional 98% customer renewal rate, underscoring the strength of our customer relationships…The increase in dividend franking from 90% to 100% fully franked is sustainable and further enhances returns to shareholders and reflects the strength of our balance sheet and cash generation.

What’s next for Ventia Services Group Ltd?

The board and management offered a confident outlook, reaffirming underlying NPATA guidance for FY26 of 7–10% growth versus FY25. Ventia will continue focusing on essential infrastructure services and growth in areas like Defence, Digital Infrastructure, Energy, and Water, balancing sustainable shareholder returns with strategic investments.

There will be a management transition, with Mark Ralston set to step in as CEO from 1 September 2026 following Dean Banks’ resignation.

Ventia Services Group Ltd share price snapshot

The Ventia Services share price has underperformed the S&P/ASX 200 index (ASX: VNT) slightly with a modest gain of almost 1% over the past 12 months.

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The post Ventia Services Group delivers higher profit and fully-franked dividend in HY26 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Reece Ltd (ASX: REH) share price is in focus after full-year FY26 sales revenue rose 4.5% to $9.38 billion, but net profit slipped 2.8% to $308 million.

What did Reece Ltd report?

• Sales revenue up 4.5% to $9,378 million
• EBITDA flat at $901 million
• EBIT down 2.6% to $534 million
• Net profit after tax (NPAT) down 2.8% to $308 million
• Final dividend of 13.40 cents per share, fully franked
• Return on capital up five basis points to 11.9%

What else do investors need to know?

Reece’s Australian and New Zealand business delivered renewed momentum, with sales up 8.3% to $4.2 billion thanks to recovering volumes and investment in team capability. This was partly offset by softer conditions in the US, where ongoing weakness in residential new construction pressured growth despite a network expansion to 25 new branches.

Investors should note net debt increased to $744 million, mainly due to continued network growth and share buyback funding. However, the company’s net leverage ratio remains conservative at 1.0x. Group capital expenditure was $174 million, supporting organic growth and digital transformation.

What did Reece Ltd management say?

Peter Wilson, Chairman & CEO, said:

FY26 was a year of improved momentum in our ANZ business as volumes recovered, while a weak residential housing market saw softer growth in the US. Throughout the year we focused on delivering our customer promise, progressing our innovation agenda and building out digital capabilities – all of which help us continue building a stronger business.

What’s next for Reece Ltd?

In FY27, Reece expects continued momentum in Australia and New Zealand, supported by a strong project pipeline. In the US, the outlook is more subdued as residential construction remains a tough market, while the non-residential sector has been more stable.

Interest rate sensitivity and housing affordability pressures may create ongoing challenges, but management is optimistic about the long-term market fundamentals and the group’s ability to lead on innovation, digital initiatives, and branch expansion.

Reece share price snapshot

The Reece share price has been among the best performers on the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of around 40%.

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The post Reece FY26 earnings: Revenue up, profit edges lower appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.