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Business Description: Goodman Group (GMG) is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, United Kingdom, and North America. GMG, comprised of the stapled entities Goodman Limited and Goodman Industrial Trust, operates four divisions namely investment in directly and indirectly held industrial property, fund management, property services and development management.
Strategy Analysis: GMG seeks to build scale for its own, manage, develop capital recycling business model by leveraging its established platforms in Australia, Europe and Asia, focusing on investors in industrial property. Entry into new markets of US, Brazil and China offer high growth potential. Future growth will be driven by property development and management earnings from the launch of new funds, primarily for large institutional investors, supplemented by occasional corporate acquisitions to further bolster scale.
Goodman Group reported NPAT down 22.7% to $154.6m for the half-year ended 31 December 2012. Revenues from ordinary activities were $507.9m, up 8.7% from the same period last year. Diluted EPS was 1.2 cents compared to (4.2) cents last year. Net operating cash flow was $226.3m compared to $140.0m last year. No dividend was declared.
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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