Montgomery’s Reporting Season Review

Montgomery’s Reporting Season Review

Our domestic equities Portfolio Managers presented a live webinar for our clients this week discussing several themes that emerged during the recent reporting season. The Retail, Insurance and Bank sectors delivered a positive surprise, while Health, Staples and Utilities disappointed versus consensus.

Australia’s accelerating vaccination rate saw investors look through the current climate and towards companies with leverage to a reopening (think travel and leisure stocks) and away from those companies for whom COVID-19 had provided a tailwind. Dividends were materially larger than expected, suggesting CEOs are generally optimistic and are presiding over healthy balance sheets.

We covered a number of key stock positions that we continue to hold that see us well placed given the current economic and market outlook. The Q&A was recorded and we covered many questions submitted by the audience.

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Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.

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