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Business Description: Coventry Group Limited (CYG) is an Australian company focusing on the distribution of industrial products with a number of trading businesses that specialize in the following product lines: Industrial and Construction Fasteners; Industrial Fluid Systems; and Furniture and Cabinet Hardware.
Strategy Analysis: CYG's strategy is to provide strong return on capital by operating as a diversified distribution and service company to industrial, automotive and other technical based markets. This is achieved by strong branding in each of the market sectors, with a focus on customer and differential products. CYG is also targeting bolt on acquisitions in new geographic areas, as well as larger acquisitions that support existing operations. In 2005/06, CYG acquired Cornall Group and Howard Silvers Hardware as it looks to establish a cabinet and furniture hardware division. Previous acquisitions include: Thompson's Spare parts (QLD) and Rod Smith Parts & Bearings business (QLD), Independent Motor Mart (NT), in July 2004 Hamilton Nuts & Bolts (NZ) and Motor Torque (Qld).
General market conditions from the previous year will continue with soft market conditions continue to weight on its automotive market. CYG will continue to evaluate and look for opportunities to grow its business by pursuing strategic acquisitions if they align with core businesses.
The Age 22/05/2013 |
A piece of broker research came out last week that described the budget as a sensible one but an almost suicidal one for a government four months out from an election. Instead of trying to buy votes, it seemed intent instead on putting as many noses out of joint as it possibly could.
The Age 22/05/2013 |
In last week's budget, the government missed what will probably be its last opportunity to make the superannuation system fairer and more sustainable. While the government made some tough decisions, such as reneging on promised tax cuts, one of the fastest-growing expenses is the tax concessions for superannuation.
The Age 22/05/2013 |
Baby, forget the bonus. With tax concessions gone the federal government's budget could also affect your health, writes John Collett.
The Age 22/05/2013 |
Last week's budget was a bit of aho-hum affair on many levels related to superannuation, because most of the changes to the system had been announced back in April. The transfer of the Baby Bonus into an extra (reduced) payment for families eligible for Family Tax Benefit Part A, has drawn the light fairly and squarely on the costs of bearing and raising children. The recent debate about the opposition's Paid Parental Scheme versus the government's less-generous scheme has added fuel to the fire.
The Age 22/05/2013 |
Tradies caught out by the collapse of National Buildplan Group have called for a financial "rescue" package and an investigation into the failure of the company.
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