Smorgon Steel Group Limited.

By Intelligent Investor · 12 Jan 2001

By Intelligent Investor ·
12 Jan 2001

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Smorgon Steel Group Limited - SSX

Current price

$2.90 at 00:00 (20 August 2007)

Price at review

$1.03 at (12 January 2001)

All Prices are in AUD ($)

Since issue 63 (Hold - $1.20) Smorgon's share price has come off another 14.2%. That's despite the fact the joint takeover bid for Email has jumped several more hurdles. Smorgon and Onesteel now own 50% of the company, and Major Appliances has been flogged to Electrolux. But high debt levels are not desirable going into a cyclical downturn and Smorgon's shares are unlikely to perform until we're through the worst. We'll maintain our 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.

Smorgon Steel Group Limited.

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Smorgon Steel Group Limited.

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