Patrick Corporation Limited

By Intelligent Investor · 22 May 2002

By Intelligent Investor ·
22 May 2002

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Patrick Corporation Limited - PRK

Current price

n/a

Price at review

$5.62 at (22 May 2002)

All Prices are in AUD ($)

Unlike Lend Lease, 'Captain' Corrigan's Patrick Corporation didn't let anyone down with its most recent announcement. First-half profit rose 10.1% to $39m and would have been higher if not for $10.4m in one-off legal costs. Prospects for the second half look bright with contributions from Virgin Blue and Pacific National (the old Freightcorp and National Rail) expected to boost the result significantly. Those who followed our previous positive recommendations including issue 91/Nov 01 (Long Term Buy - $10.52) are up an amazing 59% (plus dividends!) and should hang in there. For everyone else, it's a little expensive to buy in now. HOLD FOR THE UPSIDE.

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.

Patrick Corporation Limited

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Patrick Corporation Limited

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