Australian shares traded higher at midday as investors weighed a mixed inflation report that showed headline inflation slowing to 4.0% in May, below expectations of 4.3%, while the Reserve Bank’s preferred trimmed mean measure rose to 3.6%, slightly above forecasts. The S&P/ASX 200 gained just 0.07% at 835.20 at 12:48pm AEST, with technology and healthcare stocks leading the advance. Xero climbed 7.9%, WiseTech Global surged 14.2% and CSL added 3.3%, while miners and energy stocks weakened on lower gold and oil prices.
In small cap business news
Spenda cuts costs as strategic reset gains momentum
Spenda (ASX: SPX) has provided an update on its strategic turnaround program, revealing annualised cost savings of approximately $4.8 million following a series of operational efficiency measures implemented since May. The reductions include workforce changes, lower subscription and infrastructure costs, and a review of insurance arrangements. The company also reported recurring monthly payment transaction volumes of around $65 million and confirmed it has secured contracts with 10 Carpet Court retail stores. Alongside the cost-cutting initiatives, the board is reviewing opportunities to divest non-core assets and pursue acquisitions that complement its software, payments and embedded finance capabilities. Spenda said it is also assessing opportunities linked to financial infrastructure, sovereign technology and post-quantum encryption, while continuing to focus on improving profitability and operational leverage across the business.
Sprintex lands wastewater trial and Taiwan distribution deal
Sprintex (ASX: SIX) has signed a three-year exclusive distribution agreement with Taiwan-based Shing Yu Trading and secured a paid trial of its Jet Blower technology at Taiwan Semiconductor Manufacturing Company (TSMC), one of the world’s leading semiconductor manufacturers. Shing Yu has placed an initial order worth US$30,000 for two Jet Blowers to be evaluated at TSMC wastewater treatment facilities, where the technology will be assessed for energy efficiency, oil-free air delivery and continuous-duty performance. The agreement includes minimum revenue commitments of US$1.15 million over three years and establishes a commercial platform for Sprintex across Taiwan’s wastewater, water reclamation and industrial treatment markets. Management said the trial provides an opportunity to demonstrate the company’s technology within critical infrastructure supporting the AI and semiconductor supply chain, with the potential for broader deployment subject to successful evaluation and future purchase orders.
Asset Vision lifts recurring revenue run rate
Asset Vision (ASX: ASV) has reported a series of new contract wins across transport, social infrastructure and government sectors, lifting its FY26 annual recurring revenue run rate to approximately $6.4 million. The increase represents growth of around 45% from the start of the financial year and includes a major agreement with NSW Homes, where the company’s platform will support the management of 150,000 social housing dwellings. Additional wins include contracts with the Department of State Growth Tasmania, Marine and Safety Tasmania, Central Goldfields Shire Council and Victorian road maintenance providers Ventia and Fulton Hogan. Management said the contracts demonstrate the company’s ability to expand beyond its traditional transport focus and support its ambition to become a leading enterprise asset management software provider across critical infrastructure sectors.
