Companies
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Does MTU Offer Value?
Tim Kelley
May 15, 2014
Telecommunications supplier M2 Group (ASX: MTU) is a business we have previously owned in The Montgomery Fund, and it was a rewarding experience. MTU shares rose from around $3.50 when TMF was launched in August 2012, to over $6.00 in August 2013. We parted ways with MTU at that time, as the full-year results announcement showed that MTU’s debt-fuelled acquisition strategy had stretched its balance sheet beyond the limits we consider to be investment grade. continue…
by Tim Kelley Posted in Companies, Insightful Insights, Technology & Telecommunications.
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Sirtex test results: what they mean
Russell Muldoon
May 15, 2014
Longer-term investors in Sirtex Medical Limited (ASX: SRX) might be aware that the business invests heavily – around $60m in recent years – to fund a number of large-scale studies intended to prove the efficacy of their core medical device, SIR-Spheres microspheres (SIRT). The goal is to provide the statistical evidence required to drive earlier adoption globally of their SIRT procedure in the treatment of inoperable liver cancers. continue…
by Russell Muldoon Posted in Companies, Health Care, Insightful Insights.
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Spotlight on: ARB
Scott Shuttleworth
May 13, 2014
ARB Corporation is a well-known small cap company, often quoted as “the stock Warren Buffet would buy”. Today we were lucky enough to hear from the company’s managing director, Roger Brown, whom shared his insights on the company’s current standing and future. A summary of my notes follows: continue…
by Scott Shuttleworth Posted in Companies, Consumer discretionary, Insightful Insights.
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Super Retail Group
Roger Montgomery
May 12, 2014
Super Retail Group (ASX: SUL) owns the Supercheap Auto, Rebel, AMart Sports and BCF branded stores, and has provided a trading update for the 18 weeks to 2 May 2014, a day before the company presents at the Macquarie conference in Sydney. continue…
by Roger Montgomery Posted in Companies, Insightful Insights, Investing Education.
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Lease Peace
Ben MacNevin
May 8, 2014
Having purchased McMillan Shakespeare (ASX: MMS) shares at $7.25 after Kevin Rudd’s comments, we’ve written extensively about the investment case (see here, here and here). Since then, we have also written about our expectations that changes to novated leasing are unlikely to feature in the coming budget. The market doesn’t seem to share our view, with the share price of McMillan Shakespeare reflecting material risk to the downside. continue…
by Ben MacNevin Posted in Companies, Insightful Insights.
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Childcare bidding
Ben MacNevin
May 7, 2014
Further to our post on G8 Education’s multicurrency debt programme, it’s worth noting that their newly listed competitor Affinity (ASX: AFJ) also made a sizeable increase in its debt facility the week before. continue…
by Ben MacNevin Posted in Companies, Insightful Insights, Montgomery News and Updates.
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GEM’s Multicurrency Debt Programme
Roger Montgomery
May 5, 2014
G8 Education (ASX: GEM) have just announced a multicurrency debt issuance programme to issue $500m of notes, denominated in any currency agreed between G8 and any dealer. continue…
by Roger Montgomery Posted in Companies, Insightful Insights.
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Coca-Cola Amatil on strict diet
David Buckland
May 5, 2014
In the past twelve months the Coca-Cola Amatil share price has declined by 40 per cent, from an all-time high of $15.10 to the current share price of $9.10. continue…
by David Buckland Posted in Companies, Consumer discretionary, Insightful Insights.
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The Big Four’s Best…
Ben MacNevin
May 5, 2014
The Big Four banks feature prominently in many investors’ portfolios, typically because financials account for over 40 per cent of the Australian share market, coupled with their attractive dividends. At Montgomery, we focus on a company’s growth prospects rather than yield, which is the reason we hold ANZ in the Funds. continue…
by Ben MacNevin Posted in Companies, Financial Services, Insightful Insights.
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Good Investment Performance from BTT
Tim Kelley
May 1, 2014
One of the businesses we follow in The Montgomery Fund is BT Investment Management (ASX: BTT). Being fund managers ourselves, we like to think we have some understanding of this type of business. continue…
by Tim Kelley Posted in Companies, Investing Education.
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