Australian shares fell on Monday as the S&P/ASX 200 dropped 0.7% to 8239.40 after a weak Wall Street session, extending losses from Friday’s one-month low.
Tech stocks led the decline, with WiseTech Global’s shares plunging 20% to nearly a one-year low amid board disputes over founder Richard White’s role. Four independent directors—Lisa Brock, Richard Dammery, Michael Malone, and Fiona Pak-Poy—have resigned, effective after the half-year results release on 26 February 2025.
Ampol’s (ASX:ALD) net profit dropped 68% due to a loss at its Lytton refinery, affected by global refining conditions and operational disruptions. However, the company reported strong underlying results with RCOP EBIT of $715.2 million and EBITDA of $1.2 billion, boosted by Convenience Retail and strong performances in New Zealand and F&I Australia. CEO Matt Halliday noted repairs at the refinery are complete, with major maintenance deferred to 2026, and announced a total dividend of 65 cents per share. Shares are trading 3.89% lower at $26.94.
Lovisa (ASX:LOV) posted an 8.8% increase in revenue to $405.9m for the first half of FY25, driven by the continued expansion of its store network, with 57 new stores opened, taking the total to 943. However, comparable store sales rose just 0.1%. EBIT grew 10.7% to $90.2m, and net profit after tax increased by 6.5% to $56.9m. Gross margin improved 170bps to 82.4%, a highlight of the results. CEO Victor Herrero acknowledged the company’s solid sales and profit growth, noting that while expansion and digital marketing investments increased costs, the business continues to perform well operationally. Shares are trading 4.98% lower at $27.84.
Aerometrex (ASX:AMX) has begun a strategic review to unlock its undervalued market potential, focusing on converting a strong sales pipeline into profit while optimizing costs and margins. The review, led by Acting CEO Rob Veitch, will also assess unsolicited corporate proposals and is expected to conclude within two months, setting the foundation for FY26. Shares are trading 7.14% higher at $0.30.
