FOS Capital

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  /* One place to change the look. --fos-spp-glow should be the FOS brand navy,
     or whatever colour reads best against the header background. */
  :root {
    --fos-spp-glow: #1F3A5F;
    --fos-spp-glow-min: 0.06;
    --fos-spp-glow-max: 0.34;
  }

  /* Targets the nav link by destination, so it keeps working if the hub
     renders the href as a relative path or a full URL, with or without a
     trailing slash. Nothing else on the site is touched. */
  a[href="/share-purchase-plan"],
  a[href$="/share-purchase-plan"],
  a[href$="/share-purchase-plan/"] {
    position: relative;
    font-weight: 700;
  }

  /* The halo is a blurred box-shadow on a pseudo-element with NO background
     fill, so it can never sit over the label. Only its opacity animates,
     which is what keeps the pulse smooth - an animated shadow colour does
     not interpolate reliably. */
  a[href="/share-purchase-plan"]::after,
  a[href$="/share-purchase-plan"]::after,
  a[href$="/share-purchase-plan/"]::after {
    content: "";
    position: absolute;
    inset: -5px -11px;
    border-radius: 8px;
    box-shadow: 0 0 16px 4px var(--fos-spp-glow, #1F3A5F);
    opacity: var(--fos-spp-glow-min, 0.06);
    pointer-events: none;
    animation: fos-spp-nav-breathe 3.4s ease-in-out infinite;
  }

  @keyframes fos-spp-nav-breathe {
    0%, 100% { opacity: var(--fos-spp-glow-min, 0.06); }
    50%      { opacity: var(--fos-spp-glow-max, 0.34); }
  }

  /* Respect the visitor's operating system setting. */
  @media (prefers-reduced-motion: reduce) {
    a[href="/share-purchase-plan"]::after,
    a[href$="/share-purchase-plan"]::after,
    a[href$="/share-purchase-plan/"]::after {
      animation: none;
      opacity: 0.12;
    }
  }

  /* Set by the script below once the offer has closed. */
  html.fos-spp-closed a[href$="/share-purchase-plan"]::after,
  html.fos-spp-closed a[href$="/share-purchase-plan/"]::after {
    animation: none;
    opacity: 0;
  }
  html.fos-spp-closed a[href$="/share-purchase-plan"],
  html.fos-spp-closed a[href$="/share-purchase-plan/"] {
    font-weight: inherit;
  }
</style>



<script>
(function () {
  var CLOSE = new Date('2026-10-02T17:00:00+10:00').getTime();

  function check() {
    if (Date.now() >= CLOSE) {
      document.documentElement.classList.add('fos-spp-closed');
    }
  }

  check();
  // re-check every minute so a tab left open over the close does not keep pulsing
  setInterval(check, 60000);
})();
</script>

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Montserrat

We have just released a trading update for 1Q25, which shows our sales have increased 194% yoy to $8.3m.

This growth has been driven by increased activity across multiple infrastructure projects, and pleasingly organic growth remains very strong at 125% yoy.

We continue to take market share, and the current level of Orders on Hand and Active Quotes provide good visibility heading into 2Q25 and beyond.

Our focus remains on product development and rationalisation, and we continue to consider several accretive, strategic acquisitions.

Hopefully I will see you at our upcoming AGM, to be held in Melbourne on Tuesday 29 October 2024 (details of which have been distributed to the ASX).

FOS Capital 1Q25 Update

Summary