External broker reports(aggregated public sources), Bell Potter Securities

Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Bell Potter Securities

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>In this report, we have revisited our forecasts, with considerations made on the outlook for the HumeLink East project and the Infrastructure segment.</li><li>We note the following: HumeLink East Project considerations: We apply more conservative revenue forecasts in FY26, shifting 28% of our prior estimate into FY27, and assuming peak labour deployment extends another 6 months into FY27.</li><li>We also anticipate an allocation of labour resources from the Infrastructure segment (ex-HumeLink East contract) to the HumeLink East project in 2H FY25 to 2H FY26 to satisfy ramping activity at site. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In this report, we have revisited our forecasts, with considerations made on the outlook for the HumeLink East project and the Infrastructure segment.We note the following: HumeLink East Project considerations: We apply more conservative revenue forecasts in FY26, shifting 28% of our prior estimate into FY27, and assuming peak labour deployment extends another 6 months into FY27.We also anticipate an allocation of labour resources from the Infrastructure segment (ex-HumeLink East contract) to the HumeLink East project in 2H FY25 to 2H FY26 to satisfy ramping activity at site. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Genusplus Group (GNP): Plenty of Growth Ahead

GenusPlus Group

Genusplus Group (GNP): Plenty of Growth Ahead