Will Mayne ever rise?

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Will Mayne ever rise?
View company profile for MAY

Date 2 Jun 2000
Current Price $0.01

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The company's recent history of share price underperformance is the result of poor strategic decisions and some bad luck. The company steered itself into health care in the 1980s, but is yet to reap any significant reward from this. The problem is that with Medicare now a sacred cow of political life, there is enormous onus on the private health care system to offer sufficient value to warrant paying extra. To date, we're yet to see that happen. But now, with significant political forces aligned behind private health providers, Mayne Nickless, which has been lavishing its Health Care of Australia division with money, looks in a better position. The second half of last year and the first half of this, however, have left a great deal to be desired – with profits down solidly, margins eroded in competitive markets - particularly in the group's logistics division - and health care costs proving difficult to control.

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