ASX Highlights: EML Payments, Gentrack, and Resimac in Focus

Key Highlights:

• EML Payments surged 22.6% on an upbeat trading update.
• Gentrack Group rallied 18.7% following record FY24 results.
• Resimac Group announced a 10 million share buyback, lifting shares by 4.4%.
• Lindian Resources tumbled 13.3% after a legal claim surfaced.

Market at a Glance

The S&P/ASX 200 fell by 0.69% to 8,359.4, driven by weakness in the materials and financial sectors. However, standout performances from select companies underscored the day’s action. Here’s a closer look at the biggest movers and what’s driving their gains and losses.

Top Performers

EML Payments (ASX: EML): Riding High on a Positive Outlook

Shares of EML Payments soared 22.6% after the company released a strong trading update at its AGM. Key metrics included:

• 1Q25 revenue growth of 12% to $48.8 million.
• Underlying EBITDA rose 46% to $11.6 million.
• A mid-term strategy aimed at achieving 35% EBITDA margins by FY28.

What It Means:
EML’s focus on operational efficiency and transaction revenue growth reassures investors, positioning the company for sustained profitability.

Gentrack Group (ASX: GTK): Record Results Propel Rally

Gentrack’s shares spiked 18.7% as the software provider reported record FY24 results:

• Revenue surged 25.5% to $213.2 million (excluding one-offs).
• EBITDA held steady at $23.6 million despite a $7.1 million payroll cost charge.
• Confidence in achieving mid-term guidance of 15% CAGR revenue growth.

Investor Insight:
The results reflect Gentrack’s resilience in scaling operations while navigating industry challenges.

Resimac Group (ASX: RMC): Buyback Sparks Optimism

Non-bank lender Resimac gained 4.4% after announcing a buyback of up to 10 million shares. The company stated its belief that the current share price undervalues its assets, signaling confidence in its financial stability.

Market Reaction:
The buyback aims to enhance shareholder value, boosting investor sentiment.

Notable Decliners

Lindian Resources (ASX: LIN): Legal Cloud Looms

Shares of Lindian Resources plunged 13.3% after a claim from Deep Blue Sea Limited was made public. The claim relates to a previously resolved legal dispute involving Rift Valley Developments, but the company firmly disputes any validity.

What’s Next:
Investors are waiting for further clarity, though the unresolved nature of the claim has spooked the market.

Sector Movements

Banks Pull Back

The Big Four banks reversed recent gains, led by Commonwealth Bank (-2.5%), NAB (-1.6%), ANZ (-1.4%), and Westpac (-1.2%). This sectoral weakness contributed to the broader market decline.

Gold Miners in the Red

Gold miners struggled as gold prices tumbled 3.2%, the largest drop since June. The declines hit Pantoro (-6.7%), Spartan Resources (-6.4%), and Ora Banda Mining (-4.5%) the hardest.

Global and Local Market Context

• The All Technology Index rose 0.31%, boosted by gains in Gentrack and Life360.
• Global markets showed mixed results, with the Dow Jones up 0.99% while Hong Kong’s Hang Seng dipped 0.41%.
• Commodities experienced a mixed day, with Brent Crude rising slightly (+0.25%) while copper slipped (-0.50%).

Mixed Market Signals

Today’s ASX performance reflected a blend of optimism and caution. While companies like EML Payments and Gentrack delivered strong results, legal uncertainties and rising costs weighed on others like Lindian Resources. Investors remain focused on strategic developments, with buybacks and operational efficiencies offering bright spots amid broader market challenges.