Companies
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Is Woolies trading at a discount?
Scott Shuttleworth
May 4, 2017
In our continued search for places to deploy capital, we recently reviewed the listed supermarkets and asked: ‘Are supermarkets trading at a discount to intrinsic value?’ After all, since mid-2014, the Wesfarmers (ASX:WES) share price has barely moved, while Woolworths’ (ASX: WOW) has fallen sharply. Our analysis threw up some interesting findings. continue…
by Scott Shuttleworth Posted in Companies.
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Shopping for retail stocks – 3 to watch
Roger Montgomery
April 27, 2017
Employing nearly 11% of Australia’s workforce, the retail industry is the second largest employer behind Healthcare and Social Services. The retail sector in Australia is made up of almost 140,000 different businesses, covering everything from corner convenience stores to big box hardware and supermarkets.
continue…by Roger Montgomery Posted in Companies.
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After a hefty price fall, is IPH now good value?
Tim Kelley
April 10, 2017
IPH Limited (IPH) listed at $2.00 in late 2014 and soared to over $9.00 just one year later. The market clearly liked the story. But for the past 12 months, the share price has steadily declined and IPH now trades around $5.00. After this sort of a fall, we had a good look at the business to see if IPH had become a bargain.
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Does Telstra’s Kevin Russell have his eyes on Vita Group’s stores?
Roger Montgomery
April 5, 2017
What a week it’s been for Vita Group (VTG), which operates over 100 Telstra stores. On 4 April, Fairfax published an article referring to a ‘leaked’ Telstra draft document that said it is considering taking back high performing stores from licensees. VTG’s share price promptly plummeted. After VTG rebutted the leak, its share price rebounded. So, who should we believe? continue…
by Roger Montgomery Posted in Companies, Editor's Pick.
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Watch out retailers: here comes Amazon
Roger Montgomery
April 3, 2017
Amazon is about to hit our shores, and its arrival is bound to be as disruptive here as it has been in the U.S. But which retailers should be most worried? And is there anything they can do to protect market share in the face of this retail juggernaut? continue…
by Roger Montgomery Posted in Companies.
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Can Coles and Woolies fight the Aldi onslaught?
Scott Shuttleworth
March 29, 2017
So far, Aldi has had a relatively small impact on Coles and Woolworths. But that is set to change as the German retailer continues its expansion strategy. In the longer term, we expect to see their returns on capital decline. If that occurs, it will translate into lower shareholder returns. continue…
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Why we think BWX is worth watching
Tim Kelley
March 23, 2017
A little-known company we hold is BWX Limited. This small Melbourne-based company owns a range of skin and hair care brands. It also manufactures cosmetics for third parties. Shares in BWX began trading on the ASX in November 2015 at $2.12. They have doubled since then, and we think there’s more good news ahead. continue…
by Tim Kelley Posted in Companies.
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The road ahead looks good for outdoor advertisers
Stuart Jackson
March 20, 2017
These days, it’s hard to go far without being distracted by outdoor advertising. Displays are everywhere: from roadsides to shopping malls to bus stops. We believe the industry is poised to enjoy continued revenue growth. And this should benefit businesses like oOh!media and APN Outdoor – which have tabled a $1.6 billion merger – and QMS Media. continue…
by Stuart Jackson Posted in Companies.
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Why Chorus Limited looks undervalued
Tim Kelley
March 16, 2017
One slightly unusual holding in our domestic funds is Chorus Limited (CNU), New Zealand’s largest owner of telecommunications networks. CNU has had a bumpy ride this last year, but we think the market has marked it down too far due to regulatory uncertainty. If we are right, then the company should re-rate. continue…
by Tim Kelley Posted in Companies, Technology & Telecommunications.
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Update on Isentia
Tim Kelley
March 10, 2017
Following our earlier comments on the Isentia (ASX:ISD) result, we have now met with management, of Isentia as well as major competitor, Meltwater, and formed a view on our holding. Our view may change as new information comes to hand over time, but for the time being we have settled a position, and can outline our decision and rationale. continue…
by Tim Kelley Posted in Companies, Editor's Pick.
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