Ideas Lab: Brookfield AOF unwinding
An illiquid, soon-to-be unlisted fund, itself invested in illiquid, unlisted property funds. It may not sound promising but boy it looks cheap (and risky).
Ansell: The glove fits
There’s far more to this business than most investors think, which is why we’re adding it to our watch list. Jason Prowd explains.
No call on Vocus
Since listing in 2010 this telecommunications minnow has been quietly building a formidable company. But, for now, we’re happy to continue watching.
Seven Group: Result 2012
Sales, profits and earnings per share from Seven Group are all up handsomely over the past year. But could a China-boom lead to a China-bust?
Amcor: Result 2012
Another year of large and negative significant items provides no encouragement for a rethink on Amcor.
CBA PERLS VI: Of Wolf and sheep
Another big bank hybrid offer, this time from Commonwealth Bank, pits a sophisticated seller against naïve buyers.
Kingsrose Mining: Result 2012
With low costs and high prices, Kingsrose generates some of the highest margins in the industry.
Silver Lake Resources: Result 2012
After an impressive year, more good news beckons for this once-junior gold miner.
QBE still mopping up
QBE is trying for a fresh start under new chief executive John Neal. But first he must tackle some problem insurance portfolios.
Reece Australia: Result 2012
Reece’s slightly lower profit was a decent result in difficult market conditions. If only the company would lift its payout ratio.
Perpetual: Result 2012
Perpetual’s 2012 profit fell; the 2013 result will be lower still. It’s all about the cost cuts from 2014.
InvoCare: Interim result 2012
InvoCare increased profit yet again in the latest half year, and there's surely more growth to come. But today's share price relies on it.
Harvey Norman: Result 2012
It was a terrible 2012 for Harvey Norman. While 2013 looks slightly better, its property valuations are open to question.
Tap Oil: Interim result 2012
Tap Oil's results won't reveal much until new assets start production in 2014.
Treasury Wine: Result 2012
A strong Australian dollar is partly disguising the substantial turnaround occurring at Treasury Wine Estates.
Infigen Energy: Result 2012
Infigen's results were reasonable and don't change the investment thesis. But, with the stock up 30% since our last review, we're downgrading.
The Metcash earnings hole
The share price is up but the problems in its main business are intensifying. It’s time to put this stock back on the shelf, explains James Greenhalgh.
Suncorp: Result 2012
Suncorp's annual result was encouraging, and included a special dividend of 15 cents per share.
Sirtex Medical: Result 2012
A huge market and a treatment that works is helping Sirtex report strong growth. The 2013 result should be just as impressive.
GPG: Interim result 2012
Our concerns over pensions liabilities and Coats’ mediocre operating results are partly offset by positive news in the liquidation process.
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