Reading between the spreadsheet lines, the annual earnings season has given a few hints of what is to come for corporate Australia and the broader economy over the next year. The annual results of Australia’s top 200 listed companies is a scorecard of how they performed over the last 12 months, as well as what they’re hoping to achieve for the year ahead. Every reporting season has a few losers.

Roger Montgomery warns some retailers could be in for more pain as inflation rises and people refrain from spending. “Another after effect from COVID has been the persistent supply chain issues that companies are facing, and we saw companies like City Chic, Lovisa and Supercheap Auto responding to those supply chain difficulties by investing more in inventory,” he observed.

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Rachel Pupazzoni: Corporate Australia just received a glowing profit report card, but the outlook is not as rosy

by Roger Montgomery Posted in In the Press.

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Montgomery Investment Management unveiled the second fund to come out of its partnership with Aura Group, the Aura Core Income Fund.

Montgomery chair Roger Montgomery said “I am delighted Montgomery Investment Management can now offer a high-quality income solution for our retail clients and investors in partnership with Aura Credit Holdings working with Brett Craig, the portfolio manager.”

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Chloe Walker: Montgomery, Aura Group launch new income fund

by Roger Montgomery Posted in In the Press.

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Australia’s largest companies rebounded strongly after two years of pandemic interruption, achieving a 56.3 per cent uplift in aggregate statutory profits over FY22.

Speaking to the Inside Investor, Roger Montgomery said there was no shortage of themes impacting earnings this year including inventory build for retailers, COVID-19 impacts, floods off the east coast, interest rate hikes, supply-chain constraints, war in Ukraine, labour shortages and soaring inflation.

Interestingly, aggregate cash levels fell from the highs reached in February. Part of this is explained by outflows for dividends declared in 2021, but it also highlights the aforementioned cost pressures including payments for additional inventory and higher costs for staff absenteeism. Subsequently, 27 per cent of businesses cut dividends, above the historic average.

Commenting on earnings season, Montgomery said results were “roughly in line” with his expectations.

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Earnings season: ASX profits boomed by 56pc

by Roger Montgomery Posted in In the Press.

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Polen Capital has an enviable track record of delivering overall out-performance and averaging double-digit annual returns for more than 33 years. Headquartered in Boca Raton in Florida, USA, the firm manages $80 billion in assets.

The Inside Investor recently met with Simon Gregory and Paul Williams from the Polen Capital investment team to discuss the “Polen style” of investing. Speaking about the expansion into Australia, Williams says, “we launched the first fund, Global Equities, about twelve months ago and expanded that to take into consideration the Global Smaller Mid-cap fund, late last year.” adds Williams. continue…

by Roger Montgomery Posted in In the Press, Polen Capital.

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In this article for the Herald Sun Roger questions whether it is time to tilt your portfolio towards income and yield stocks. As rates approach zero, we believe a final wave of investors who have suffered from inertia will finally give up on their savings and seek to invest elsewhere. Read here.

by Roger Montgomery Posted in In the Press.

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In this article for the Australian Financial Review Mark Draper discusses the companies whose share prices will re-rate very quickly if a vaccine for COVID-19 is developed. Mark draws on Gary’s two picks, Webjet and Tyro Payments as companies to watch as potential beneficiaries of a vaccine. Read here.

by Gary Rollo Posted in In the Press.

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In this article for the Herald Sun Roger questions what your options are in a world where interest rates are close to zero and possibly heading lower. If rates on your term deposit went negative and it was costing you money to keep your money in the bank, would you leave it there? Read here.

by Roger Montgomery Posted in In the Press.

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In this article for the Herald Sun Roger discusses the reasons to be bullish during this market. With many of the bear arguments centred around a bubble in technology stocks, it’s worth beginning the bull case with those same technology stocks. Read here.

by Roger Montgomery Posted in In the Press.

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In this article for the Herald Sun Roger discusses why investors are strongly divided about whether markets are fair value or too expensive and about to collapse. Read here. 

by Roger Montgomery Posted in In the Press.

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In this article for the Herald Sun Roger discusses the fact that more than half a year has passed since the coronavirus emerged and many of the world’s most populous countries are failing at their attempts to flatten their curves. The pandemic appears far from over which means equity investors who have enjoyed multi-year returns in just a few months would be wise to reconsider their exposure to growth assets. Read here.

by Roger Montgomery Posted in In the Press.

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