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Business Description: Austin Engineering Limited (ANG) is an engineering company provides an array of manufacturing, repair and support services to the mining, oil and gas, aluminium and industrial sectors.
Strategy Analysis: ANG specialises in niche products like dump truck bodies and shovel heads. It uses internally developed robotic systems to improve manufacturing efficiencies. Organic growth is linked to the mining and commodities boom, particularly in Iron Ore and Coal where ANG has a large presence. Geographical diversification will focus on the North American market, through Westech, the Middle East with JV partners and strategic alliances style agreements preferred, and execute its South American expansion plans in Chile and Brazil. In 2010, improved efficiencies across the Australian operations during the year due to larger orders and higher capacity utilisation were key factors behind the increased level of profitability.
Austin Engineering reported NPAT up 47% to $17.21m for the half-year ended 31 December 2012. Revenues from ordinary activities were $156.98m, up 25% from last year. Diluted EPS was 23.36 cents compared to 15.86 cents last year. Net operating cash flow was $13.23m compared to an outflow of $2.69m in the pcp. The interim dividend declared was 4.5 cents, compared with 3.5 cents last year.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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