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Business Description: Austal Limited (ASB) is a global defence prime contractor and a designer and manufacturer of defence and commercial ships. Austral involves in the design, construction and maintenance of revolutionary ships for Governments, Navies and Ferry operators around the world. Business units comprise ships, systems, and support.
Strategy Analysis: ASB offers a diversified range of vessels across a wide geographic market. Its current focus is on commercial and defence shipbuilding but a strong A$ and soft European ferry market is forcing a scale down in commercial shipbuilding in Australia and a refocus on defence work. The newly acquired Philippines shipyard will focus on constructing smaller commercial vessels at a more competitive cost. Recent defence contract wins should lessen earnings volatility, as they tend to span over a few years. The establishment of a Service business with long-term maintenance contracts will also provide another stable revenue stream.
Austal reported NPAT of $5.4m for the half-year ended 31 December 2012. Revenues from ordinary activities were $389.41m, up 45.6% from the same period last year. Diluted EPS was 2.14 cents compared to (1.26) cents last year. The net operating cash outflow was $20.92m compared to an outflow of $2.9m in the pcp. No dividend was declared.
Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 |
â€śIf you want to have a better performance than the crowd, you must do things differently from the crowd.â€ť Sir John Templeton.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
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