DUBBO, N.S.W. — Shares of Maas Group Holdings Ltd. climbed $0.33, or 6.42%, to $5.47, as the diversified regional infrastructure and property company continued to build momentum following a record set of full-year results and an aggressive strategic push into AI data center infrastructure through its growing stake in Firmus Grid.

Thursday’s gain adds to a strong run for the stock since Maas Group reported record financial results for the year ended June 30, 2026, on Aug. 20. The company posted underlying revenue of $1.2638 billion, up 27% from the prior year, alongside underlying EBITDA of $300.3 million, a 37% increase. Underlying net profit after tax climbed 57% to $123.4 million, while underlying earnings per share rose 51% to 34.2 cents. Statutory net profit after tax attributable to owners reached $136.1 million, up 89% from the prior corresponding period, reflecting both strong operating performance and a reversal of held-for-sale depreciation tied to a major pending asset sale.

Maas Group Managing Director and CEO Wes Maas described the results as a defining moment for the company, emphasizing that even the continuing operations exceeded the range the company had previously guided to.

“FY26 was a defining year for Maas Group,” Maas said. “We delivered a record result, and importantly our continuing operations exceeded the guidance range confirming the quality of the business we are carrying into FY27.”

Central to Maas Group’s strategic transformation is its pending $1.703 billion sale of its Construction Materials business to Heidelberg Materials Australia, a deal that received Australian Competition and Consumer Commission approval subject to certain divestments and remains on track to settle in October 2026. The sale represents a significant pivot away from the company’s traditional construction materials operations and toward its rapidly expanding electrical manufacturing division, which the company has positioned as its primary growth engine going forward.

That electrical division, operated through Maas Group’s wholly owned subsidiary JLE Group, has been a standout performer, with the company reporting $1.2 billion in external work in hand as of its latest update. A key driver of that order book has been an $855 million contract secured in early August for the delivery of modular electrical infrastructure to Firmus, an artificial intelligence infrastructure developer, further building on an existing Master Services Agreement that positions JLE as the exclusive supplier of power train units across Firmus’s Australian pipeline, including manufacturing and services tied to Firmus’s 100-megawatt Launceston AI Factory project.

Alongside that contract win, Maas Group has significantly deepened its financial stake in Firmus Grid, a vertically integrated developer and operator of next-generation AI infrastructure focused on designing and operating purpose-built platforms for high-density artificial intelligence workloads. The company made an additional $300 million strategic investment in Firmus, bringing its total investment in the AI infrastructure developer to $410 million, equating to an approximate 3.2% stake on a fully diluted basis. Due to a separate, related investment by an entity associated with CEO Wes Maas, Maas recused himself from the board’s consideration of that particular transaction.

Following the $855 million contract win, Maas Group raised its full-year 2026 group underlying EBITDA guidance to a range of $300 million to $310 million. Excluding the uplift tied to the Firmus revaluation and the contribution from the construction materials business being sold, the company’s underlying operating result from continuing businesses was expected to land between $130 million and $135 million in EBITDA, consistent with previous guidance issued ahead of the contract announcement.

Alongside its record results, Maas Group also announced a new capital management framework that prioritizes share buybacks over traditional dividend payments as its primary mechanism for returning value to shareholders. No final dividend was declared for FY26 as part of that shift, with the company instead expanding its share buyback program, a move it said was intended to maximize shareholder returns as it transitions its capital allocation strategy following the pending Heidelberg sale.

Maas Group’s operating cashflow conversion declined modestly to 93% in FY26, down from 97% in the prior year, a figure the company attributed to the ongoing capital investment tied to its electrical manufacturing expansion and its growing Firmus stake, even as overall profitability metrics posted substantial year-over-year gains.

Over the trailing 12 months, Maas Group shares have significantly outperformed the broader Australian market, rising more than 30%, compared with a gain of roughly 1% to 4% for the All Ordinaries Index over the same period, depending on the specific measurement window used. That outperformance reflects growing investor enthusiasm for the company’s pivot toward electrical infrastructure and data center-related manufacturing, a segment closely tied to the broader artificial intelligence infrastructure boom that has driven significant capital investment across the technology and industrials sectors globally throughout 2026.

Originating in Dubbo in regional New South Wales, Maas Group has built its business around above-ground plant hire and civil construction contracting services for infrastructure and mining projects, alongside electrical contracting, concrete services, and a property division overseeing residential and commercial developments across regional New South Wales. The company’s evolution toward electrical manufacturing and AI-linked infrastructure work represents a significant strategic shift from its traditional roots in construction materials and civil contracting, one that management has framed as positioning the company for its “next growth phase” following the settlement of the Heidelberg transaction later this year.

Looking ahead, Maas Group has said it expects strong revenue and profit growth from its continuing operations into fiscal year 2027, supported by its expanding electrical manufacturing arm and a healthy pipeline of residential land settlements across its property division. With the Heidelberg sale expected to settle in October, bringing up to $1.7 billion in proceeds, and its growing exposure to the AI infrastructure buildout through both its JLE contracting work and its direct equity stake in Firmus, investors will likely continue watching closely for further updates on new contract wins and the company’s broader capital allocation priorities as it transitions further away from its legacy construction materials business toward its expanding electrical and infrastructure-focused growth strategy.

The AIM-listed company has hailed a year of ‘significant progress’

A company looking to revive a mine in Devon that holds a rare critical metal has reported a “year of significant progress” after raising tens of millions of pounds for the project.

AIM-listed Tungsten West is working to restart production at the Hemerdon tungsten and tin mine near Plymouth – one of the largest tungsten resources in the world.

In an update to the stock market, chief executive Jeff Court told investors the project was now “fully funded” and remained “on track and on budget” to restart production in the first quarter of next year.

His comments came as the company narrowed its losses to £7.9m for the year ending March 2026 from £19m the year previously. The firm said this reflected the main initiatives conducted during this period, including finalising a feasibility study and pre-operational readiness activities.

The news comes just days after the government’s National Wealth Fund confirmed it would inject £71m into Tungsten West in a bid to support the reopening of the Hemerdon mine.

The Plympton-headquartered company, which focuses on the mining and extraction of metals including tungsten and tin, took ownership of the site in 2019 and has since invested years completely reconfiguring the processing layout and obtaining fresh environmental permits.

“We have achieved strong progress and remain on-track and on budget for full commissioning in Q1 2027, most importantly, with no lost time injuries,” said Mr Court.

“We have also achieved the significant milestone of first production from our restart project already in Q3 2026. The financial results reported for the previous financial year reflect the strategic pivot of the company to a development project and full-scale production early next year.”

Mr Court told investors that initial production was “already underway” at the mine, adding: “We look forward to the progress towards full commissioning in Q1 2027 (calendar year). I would like to thank all our stakeholders for their continued support.”

Tungsten West’s annual general meeting will be held at the company’s offices in Plympton at 1pm on September 29.

Fifteen years ago there was almost no market for avocados in India, remembers Sunil Bopaiah.

Ripe fruit would fall off trees and be eaten by dogs, earning avocados the unappetising name dog fruit, he says.

Bopaiah has been working in India’s plantation industry for 26 years, he’s currently group manager at Cottanad Plantations, which grows cocoa, rubber, coffee, spices and fruits, including avocado, in the hills of Wayanad in the southern Indian state of Kerala.

“We never planted avocado as our main crop. We introduced it as a shade tree for coffee plantations, and only later realised it could become a profitable business,” he says.

He says the turning point was around 2011 when Bollywood star Shilpa Shetty said she used avocado for skincare.

“Overnight, prices doubled and then kept rising,” he says.

Cottanad has responded to that demand by planting avocado trees on 40 acres. Last year they harvested between 10 and 15 tonnes of fruit. In three of four years time they hope to raise that to 40 to 50 tonnes.

There’s been a lot to learn.

“We completely changed the way we grow avocados after learning from South African experts. Today we use raised beds, wider spacing and different planting methods because avocado roots are highly vulnerable to diseases,” Bopaiah says.

There’s plenty of scope for Indian farmers to step-up production.

“When we studied the market, we found a huge gap between demand and supply. India imports around 15,000 tonnes of avocados every year, while domestic production is only about 8,000–9,000 tonnes,” says Manilal Palliyath who helps promote India’s avocado industry.

He sees a big opportunity for farmers, particularly as traditional crops have suffered.

“Coffee and pepper have suffered because of changing climatic conditions, making diversification essential for farmers.”

More than 15,000 popular children’s squeeze toys have been recalled over serious injury hazards linked to the beads they contain, according to federal regulators.

Two recalls have been issued — one for Squeezy Dumplings from GIHNJSI and one for Rainbow Mystery Squishy Buns from OKK Trading.

Both products contain water beads, which could expand within a child’s body if ingested, posing a potentially deadly hazard, the Consumer Product Safety Commission said in its notice. The toys violate the mandatory federal safety standard for toys because the water beads can expand beyond the allowable size.

“If a water bead is ingested, it can pose ingestion, choking, and intestinal obstruction hazards inside a child’s body, resulting in severe discomfort, vomiting, dehydration and a risk of death to a child,” the commission said.

WEIGHT-LOSS SUPPLEMENT RECALLED AFTER FDA FINDS TOXIC SUBSTANCE

More than 15,000 popular children’s squeeze toys have been recalled. (Consumer Product Safety Commission)

About 8,000 Squeezy Dumplings are affected by the recall. They were sold online at Amazon between May and June for about $20. “SQUEEZY DUMPLINGS” and “SQUEEZE ME” are printed on the label.

Roughly 7,200 Rainbow Mystery Squishy Bun Toys are subject to the recall, sold at various third-party stores nationwide from May to August. “Rainbow MYSTERY” and “SUGAR EDITION” are printed on the front of the package labeling. 

Both toys are translucent, round squishy balls with cartoon faces and glitter-like particles and water beads on the inside. The toys come in a tan plastic container shaped like a bamboo steamer.

Consumers are urged to stop using both toys immediately and contact the appropriate company for a full refund. (Consumer Product Safety Commission)

Consumers are urged to stop using both toys immediately and contact the appropriate company for a full refund. To receive a refund, consumers should write “RECALLED” on the toy and its container, dispose of the product, and email a photo to the recalling company, according to the CPSC.

No injuries have been reported thus far in connection with either toy.

Additionally, the commission is warning consumers to immediately stop using Squishy Bun Toys from Ivyapingdianpu and to dispose of them, saying they violate mandatory safety standards for toys.

These toys also contain water beads, but the retailer has not agreed to a recall the product or offer a remedy to consumers despite receiving a Notice of Violation, according to the commission.

WALMART MANGOES RECALLED OVER POTENTIAL SALMONELLA CONTAMINATION

The commission is warning consumers to immediately stop using Squishy Bun Toys from Ivyapingdianpu. (Consumer Product Safety Commission)

WALMART MANGOES RECALLED OVER POTENTIAL SALMONELLA CONTAMINATION

About 106 of these toys are affected by the warning. They have “SQUISHY BUN” and “Rainbow MYSTERY” printed on the front of a removable tag.

These toys were sold online at Amazon in June 2026, but they may also have been sold by various third-party sellers and on other websites.

No injuries have been reported in connection with these toys. Anyone with a child who experiences any injuries related to these Squishy Buns or who notices any defects is urged to contact the commission.