Goodman Fielder's deeply disappointing result
Goodman Fielder’s result may have looked good given the difficult conditions but, delving a little deeper, it wasn’t. And while there’s early evidence of cost pressures easing, the competitive environment is nastier than ever.
Salmat still slugging it out
Salmat used to be a relatively conservative investment with low borrowings, high free cash flow and little need for risky acquisitions. But with technological barriers falling faster than Brendan Nelson’s popularity, higher debt and acquisitions look set to continue.
Macquarie Airports sitting pretty
Chaos reigns amongst infrastructure funds. But Macquarie Airports enjoys a net cash position and is poised to take advantage of distress elsewhere.
Servcorp sits on the sidelines
The global real estate downturn is building up a head of steam. While it might hurt profits in the short term, Servcorp’s cash pile means it is ready to pounce on any opportunities.
Passing judgement on Perpetual
The 'growth engines' blather of four years ago has gone, as have the graphs of rising operating profit and earnings per share. But we're not about to crucify this wonderful business now that it's available at a fair price.
ARB's determination pays off
Despite high oil prices, ARB reported a 25% jump in profits, due to a clever strategy and hard work that began years ago.
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