Operator

Thank you for standing by, and welcome to the oOh!media Limited OML FY ’25 Results Presentation. [Operator Instructions]

I would now like to hand the conference over to Mr. James Taylor, MD and CEO. Please go ahead.

James Taylor
CEO, MD & Director

Good day, everyone, and thanks for joining us today. I’m James and I joined oOh!media as CEO and MD on the 8th of December. It’s a privilege to join oOh! and lead a business that plays such an important role in Australia’s media and urban landscape.

Out of Homes, a medium I’ve long admired, including as a customer. Having had my feet under the desk at oOh! for just over 8 weeks, I can say that the attractiveness of oOh! as ANZ’s #1 player has only been reinforced. To me, that attractiveness is underpinned by the variety of formats we offer, their physicality and that in an increasingly virtual digital world, it’s part of the last growing physical media channel. The fact that it’s premium and completely embedded into the rhythm of everyday life only adds to this.

The transparency and brand safety that Out of Home provides to both clients and consumers is a huge differentiator. There’s nothing hidden. What you see is what you get. And in today’s media landscape, that clarity is increasingly valuable and recognized by marketers. Out of Home is built into the very fabric of our cities, unskippable and unmissable as people

A nationwide recall has been issued for a baby fruit purée after federal testing found elevated levels of patulin, a toxin that can pose health risks with prolonged exposure.

Initiative Foods announced Friday that it is recalling one lot of its “Tippy Toes” Apple Pear Banana Fruit purée following the test results.

Patulin is a naturally occurring toxin produced by molds that can develop in fruits, particularly apples. Prolonged ingestion of the substance may lead to adverse health effects, including potential immune suppression, nerve damage, headaches, fever and nausea.

According to the U.S. Food and Drug Administration, no illnesses or injuries have been reported.

RECALL EXPANDS TO NEARLY 1M FRIGIDAIRE MINIFRIDGES SOLD AT TARGET OVER FIRE HAZARDS

The product was distributed nationwide in grocery stores in all states except Alaska and may also have been sold in Guam and Puerto Rico, the FDA said.

Consumers are urged to check the “Best By” date stamped on the bottom of each plastic tub for “BB 07/17/2026.” The affected packaging is also marked with code “INIA0120.”

TRIO OF DAIRY GIANTS RECALL INFANT FORMULA OVER CONTAMINATION FEARS

The company advises anyone who purchased the product with that date to stop using it immediately and dispose of it or return it to the place of purchase for a refund.

Consumers with health concerns after consumption should contact a healthcare provider.

13K POUNDS OF READY-TO-EAT GRILLED CHICKEN BREASTS RECALLED OVER POSSIBLE LISTERIA CONTAMINATION

Retailers have been instructed to check inventory and remove the affected lot from sale or distribution.

“At Initiative Foods, the safety of our consumers and their families is our highest priority,” CEO and President Don Ephgrave said. “We are cooperating with the FDA to ensure strict review and enhanced safety measures across all our products. We thank our retail partners and customers for their understanding and prompt action on this matter.”

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For additional recall information, consumers and retailers can call 1(855) 215-5730.

Mumbai: India’s largest bourse, the National Stock Exchange of India (NSE), has hit another roadblock in its decade-long journey to go public. A writ petition has been filed in the Delhi High Court challenging the no-objection certificate (NOC) issued by the Securities and Exchange Board of India (Sebi) for NSE’s proposed initial public offering (IPO). The petition, filed on February 10 by New Delhi resident and former judicial officer KC Aggarwal, 72, questions Sebi’s January 30 clearance and could delay NSE’s much-anticipated listing once again. ET has reviewed the petition.

The exchange has been trying to go public since 2016, but repeated regulatory scrutiny and past controversies have kept the plan on hold. The Delhi High Court is expected to take up the matter on Monday or later this week, with its decision likely to influence the next steps in NSE’s listing saga.

At the heart of Aggarwal’s petition is Sebi’s framework on Corporate Action Adjustments (CAA), introduced to ensure “value neutrality” in derivatives trading during bonus issues, stock splits and extraordinary dividends. In simple terms, it means derivative traders’ economic positions should remain unchanged before and after such corporate actions. Aggarwal alleges that NSE violated this framework. Instead of adjusting both price and quantity, NSE changed only prices, debiting dividend-equivalent amounts directly from derivative traders’ accounts, including that of Aggarwal. Under the Securities Contracts (Regulation) Act, dividends belong only to shareholders, not derivatives traders.

“The impugned debit is therefore ultra vires the statute,” he said in the petition.

Aggarwal said his complaints to NSE were closed without a hearing, and Sebi upheld the exchange’s actions without independent review. Right to Information (RTI) requests seeking details of the debited funds were repeatedly rejected, creating a “complete information vacuum” and emails to the Sebi chairperson remained unaddressed as of January 2026, he added.

His complaint to Sebi outlined how funds were misappropriated from derivatives traders under the pretext of CAA in violation of Sebi rules, the impermissibility of off-market derivative transactions and the serious implications for investor protection and market integrity. He had asked that Sebi not grant any approval for NSE’s IPO until the matter was fully investigated and addressed.

Despite unresolved statutory violations, opaque fund flows and systemic concerns, Sebi cleared NSE’s IPO, Aggarwal said. The writ seeks “regulatory accountability, enforcement of statutory and circular-based duties, and an interim restraint to prevent irreparable prejudice to public investors.” Sebi didn’t respond to queries on the matter.

The market regulator’s January 30 NOC allows NSE to formally kick off the IPO process–appoint bankers and legal advisers and start drafting the listing documents.

The wait for the exchange’s IPO has been one of India’s most prolonged and closely watched, with the first application submitted to Sebi on October 18, 2016. The regulator initially withheld approval due to concerns related to a co-location case, governance lapses at the bourse, and issues with its technology infrastructure. Since then, NSE has repeatedly approached Sebi for clearance. After Tuhin Kanta Pandey took charge as Sebi chief in March 2025, he formed an internal committee to examine the NSE IPO issue.

Costco is officially retiring a decades-old system customers have long found frustrating as part of its latest major digital overhaul.  

Customers will soon be able to place custom cake and deli tray orders directly through the company’s mobile app and website. Previously, shoppers were required to drive to Costco just to fill out paper order forms in-store. 

Executives of the major retailer said the upgrade, which would streamline orders from start to pickup, addresses an outdated process they described as “clunky.” 

“Very excited about what we have coming in the app,” CEO Ron Vachris said.

“We’ve got ordering cakes and deli trays online coming. So many of the things that we’ve heard from our members that could be a little bit clunky are now moving to a digital state, and we’re seeing great adoption right out of the chute.”

SOME GIFT CARDS SOLD AT COSTCO ARE NOW WORTHLESS

The new online ordering system is expected to include sheet cake options as well as customizable cakes, allowing customers to choose sizes, shapes, flavors, designs and inscriptions from a catalog of available cake options.

COSTCO’S POPULAR BARGAIN MEAL AT CENTER OF NEW LAWSUIT

The major retailer did not provide a specific date for when the system will be fully implemented across all locations. Fox 11 Los Angeles said customers can expect the “Order Grocery/Bakery” feature in the app by the end of 2026. 

If the feature follows a process similar to the current paper-based system, cakes and deli trays should be ready within 24 to 48 hours.

COSTCO’S LESSER-KNOWN MEMBERSHIP BENEFITS, EXPLAINED

Ticker	Security	Last	Change	Change %
COST	COSTCO WHOLESALE CORP.	1,018.48	+19.62	+1.96%

The move will give customers easier access to Costco baked goods, especially for those who must travel long distances to reach a store. 

In a 2023 Reddit post, one social media user described Costco’s cake-ordering process as inconvenient and time-consuming.

“I live 40ish minutes from my local Costco, so yes, an online order process would be very nice,” the user said. 

Another responded, echoing the same sentiment.  

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“Same. I really don’t want to drive there two days in a row… when it’s my Birthday,” they wrote. 

Sir Gerald Ronson’s forecourt empire has delivered a record profit, with the property tycoon’s service station business now valued at more than £1.5bn.

GMR Capital, the parent of petrol forecourt operator Rontec, reported pre-tax profits of £98.4m for the 12 months to the end of September, up 6 per cent on the previous year and surpassing its earlier peak of £95.7m in 2022.

The record came despite revenues slipping 7.7 per cent to £1.56bn, reflecting what the company described as a “challenging economic environment” and cautious consumer spending.

Rontec, which operates 267 service stations across the UK, said rising costs, higher employer national insurance contributions and living wage obligations had squeezed margins. However, lower interest repayments, as borrowing costs eased over the year, helped boost profitability.

The group described the period as “another successful year”, extending a long track record of resilience. GMR has recorded losses only three times in the past three decades, with its most recent annual loss dating back to 2009.

In 2025, property agent Colliers revalued Rontec’s real estate estate at £1.51bn, an increase of £318m. The uplift was attributed partly to investment in site improvements and partly to broader commercial property gains as interest rates fell.

Rontec has been investing heavily in modernising its estate. The company is midway through refurbishing its Shop’N Drive convenience stores and has upgraded its Subway franchises. Its food-to-go offer continues to expand, including 43 franchised outlets of Greggs.

The group has also earmarked tens of millions of pounds for ultra-fast electric vehicle charging hubs. Six forecourts currently host the chargers, with another six planned, although rollout has been slowed by delays in securing high-capacity grid connections and uncertainty in the EV market.

Ronson, 86, who introduced self-service petrol stations to the UK in the 1960s, has previously described Rontec as his “f*** you” business because of its ability to generate cash through economic cycles.

Better known publicly for landmark developments such as the 46-storey Heron Tower in the City of London, Ronson also served six months in prison in the 1990s for his role in the Guinness share-trading scandal.

He remains chairman of GMR, with his wife Gail and daughters Nicole and Lisa also serving on the board.

Company accounts show Ronson spent £164,000 chartering the company jet during the year, along with £82,000 on use of a company-owned yacht. The yacht was subsequently sold for £2m to a company owned by his wife.

Despite headwinds in consumer spending and higher operating costs, Ronson’s forecourt empire has once again demonstrated its ability to generate record returns — reinforcing its reputation as one of Britain’s most resilient private business empires.

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