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AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED (AFI)

AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED (AFI)

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General Information
Company Name: Australian Foundation Investment Company Limited
Stock Code: AFI
Website: www.afi.com.au
GICS Sub-Industry: Other Diversified Financial Services
Market Cap ($M): 4,203
Equiv. Shares (M): 1,028

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 4.090 $ 4.100 $ 4.120 $ 4.060 $ 4.100 330,453 $ -0.010  -0.244 %

Current Broker Consensus Recommendation more
Recommendation: Buy
Recommendation Date: 28th Jul 2009
12 Month Target Price (average): $0
Brokers Surveyed: 1

Company Overview

Business Description:
Australian Foundation Investment Company Limited (AFI) is an Australian investment company, specialising in investing in Australian equities.

Strategy Analysis:
AFI seeks to identify stocks that have superior value and long-term sustainable earnings growth prospects. The primary goals are: to pay dividends which, over time, grow faster than the rate of inflation; and to provide attractive total returns over the medium to long term.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A 233.2 23.0 23.7 20.7 21.0 4.4 100.0
2010  A 183.6 18.6 -13.9 26.9 21.0 4.2 100.0
2009  A 211.1 21.6 -49.9 20.3 21.0 4.8 100.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
AFIC (AFI) $4,214 M 0.2376 -- -- 17.8106 -- -- 0.0512 -- --
Challenger (CGF) $1,847 M 0.1261 0.0374 0.0473 7.0270 6.7735 6.4677 0.0488 0.0524 0.0568
IOOF (IFL) $1,273 M 0.1448 -0.0970 0.1136 11.5273 12.7650 11.4629 0.0776 0.0704 0.0738
Macquarie Group (MQG) $9,112 M -0.2667 0.2384 0.2555 12.9214 10.4339 8.3105 0.0536 0.0588 0.0713
Platinum Asset Mgmt (PTM) $2,139 M 0.1281 -0.1448 0.0133 14.4757 16.9258 16.7032 0.0656 0.0528 0.0557

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
AFI 0.86 17.8 0.98 --
Market 1.12 11.1 0.96 2.31
Sector 0.94 12.3 0.82 3.30

Directors
Name Position Start Date
Mr Bruce B Teele Executive Chairman 05 June 1966
Mr Ross Ernest Barker Managing Director 06 April 1987
Mr Terrence Arthur Campbell Non-Executive Deputy Chairman,Non-Executive Director 07 February 1983
Mr Donald R Argus Non-Executive Director 12 May 1999
Mr John Paterson Non-Executive Director 06 April 1987
Mr Fergus Denis Ryan Non-Executive Director 08 August 2001
Mrs Catherine Mary Walter Non-Executive Director 14 August 2002
Mr Peter John Williams Non-Executive Director 03 February 2010

Management
Name Position
Andrew Porter Chief Finance Officer,Company Secretary
R Mark Freeman Chief Investment Officer
Simon Pordage Company Secretary
Geoffrey N driver General Manager Business Development and Investor Relations

Calendar of Events
Date Event
21 February 2013 Report (Interim)
23 January 2013 Report (Interim)
07 September 2012 Report (Annual)
28 August 2012 Report (Annual)
23 July 2012 Report (Prelim)
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