ARB Corp

Shares in ARB Corp fell 7% when it reported sales growth of ‘only’ 9.6% for the nine months to the end of March, as we reported on 2 May 13 (Hold – $12.22), but they’ve gained it all back since and at $13.57 now stand at close to record levels. In that third quarter update, management noted that recent spending cuts in the mining industry had reduced demand for its products, and things haven’t got any better, with profit warnings from UGL, (see 15 May 13 (Avoid – $7.94)), Coffey International, Transfield Services and Fleetwood amongst others. We should...

Shares in ARB Corp fell 7% when it reported sales growth of ‘only’ 9.6% for the nine months to the end of March, as we reported on 2 May 13 (Hold – $12.22), but they’ve gained it all back since and at $13.57 now stand at close to record levels.

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