Westpac Banking Corporation is the third-largest of the big four commercial banks by market capitalisation and offers a full suite of financial services to more than 13 million customers. Westpac’s first-quarter FY24 profit of $1.8 billion was little changed from the final quarter of FY23, with interest margin pressure and higher bad debts well managed.
Read MoreSuper Retail Group is the owner of the Supercheap Auto, Rebel, BCF and Macpac brands, which have positions in growing high-involvement lifestyle categories of auto, sports and outdoor leisure. The company has more than nine million active loyalty club members, and sells via a network of 716 stores and online. Super Retail’s first-half FY24 sales
Read MoreFortescue is Australia’s No.3. iron ore miner behind Rio Tinto and BHP, and also has a growing green energy business via the company’s Fortescue Future Industries division. A monster $1.08 per share fully franked dividend was the highlight of Fortescue’s first half of FY24, up 44% on last year’s $0.75 per share interim payout. The
Read MoreColes Group is Australia’s second-largest supermarket chain, whose retail offerings included fresh food, groceries, general merchandise, liquor, fuel and financial services through its store network and online platforms. The value gap between Australia’s two largest supermarket operators has been dramatically closing over the space of a week, following their first-half FY24 results. However, both defensive
Read MoreLife360 operates a platform that offers tracking of family members via location coordination and safety alerts, driving alerts, digital safety alerts, and emergency assistance alerts. Life360, which also sells the Tile hardware tracking devices, is based in San Francisco, has circa 51 million monthly active users, and operates in more than 150 countries. We initiate
Read MoreSelect Harvests is involved in the growing, processing, packaging and sale of almonds and its by-products from company-owned and leased almond orchards and processing, packaging, marketing and distribution of edible nuts, dried fruits, seeds, muesli and a range of natural health foods. The company is Australia’s largest vertically integrated almond company with a portfolio of
Read More4DMedical is a medical research technology and development of a non-invasive respiratory imaging solution using four-dimensional imaging. This four-dimensional lung imaging technology utilises proven, patented mathematical models and algorithms to convert X-ray scans into quantitative data to enhance the capacity of physicians to manage patients with respiratory diseases and diseases of the lung. The company
Read MoreWoolworths is the largest supermarket chain in Australia and New Zealand, with 3,357 stores and more than 190,000 employees. Its business comprises Australian Food, New Zealand Food and Big W divisions. The non-cash goodwill write-down of Woolworths’ small New Zealand business in the first-half FY24 results has no direct impact on our $27.50 per share
Read MoreStar Entertainment Group operates integrated resorts with gaming, entertainment and hospitality services. Star also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland government and invests in a number of strategic joint ventures. Shares in Star are materially undervalued versus our unchanged $1.20 fair value estimate post the company’s first-half FY24
Read MoreAmcor provides packaging for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world through a range of flexible and rigid packaging, specialty cartons, closures, and services. Some 44,000 Amcor staff generate sales from operations that span 220 locations in 43 countries. We modestly raise our fair
Read MorePinnacle Investment Management Group is a financial services company, providing distribution services, business support and responsible entity services to the Pinnacle Affiliates and developing and operating investment management businesses. Pinnacle currently consists of 15 investment affiliates. Most derive their revenue from funds under management and/or administration (FUMA), which are driven by asset price movements and
Read MoreAVITA Medical is a regenerative medicine group with a technology platform positioned to address unmet medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications. Avita has a distribution agreement with Stedical Scientific to exclusively sell its PermeaDerm products in the US for the next five years, with the option to
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