Corporate Express Australia Limited

By Intelligent Investor · 10 Mar 2000

By Intelligent Investor ·
10 Mar 2000

Recommendation

Corporate Express Australia Limited - CXP

Current price

$4.75 at 16:10 (06 August 2010)

Price at review

$2.65 at (10 March 2000)

All Prices are in AUD ($)

In the year to 31 December sales rose 12.2% to $384m and net profit after tax more than doubled to $13m. But the comparison isn't quite even as the company changed its balance date and '1999' had only 11 months. The company has declared its maiden dividend, 5 cents per share, fully franked. It looks like Corporate Express has finally managed to integrate the smaller office suppliers it has bought, and so has lowered costs and boosted margins. We're happy to have recommended Corporate Express in issue 35 ($2.55) as an Accumulate, but the stock has moved above its long term trend thanks to the takeover of it US parent. Now is a good time to switch our recommendation to HOLD.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

Corporate Express Australia Limited

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Corporate Express Australia Limited

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