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Business Description: Gowing Brothers Ltd (GOW) is an investment and wealth management company which manages a diversified portfolio of assets including long-term equity and similar securities, investment properties, managed private equity, property development projects and cash. GOW conducts investment activities only in Australia.
Strategy Analysis: GOW is positioned to benefit from a diversified portfolio asset base, including listed Australian equities, prime commercial and retail property, private equity, cash on deposit. As at 31 July 2008, total investment portfolio was valued at $162m. The portfolio mix was $91m of listed equities (57%), $51m of cash (31%), $18m of private equities (11%), $2m (net of debt) of property (1%). The cash position increased significantly from 6% in FY07 to 31% in FY08. Direct property investments have become a small portion of its portfolio in FY08. The listed equities investments were in the following sectors: 27% in Financials, 24% in Resources, 15% in Global Equities, 9% in Energy, 8% in Industrials, 6% in Healthcare, 4% in Utilities, 4% in Consumer Staples, 3% in Consumer Discretionary.
Gowing Brothers reported NPAT of $6.8m for the half-year ended 31 January 2013. Revenue from ordinary activities were $9.63m, up 6% from last year. Basic and Diluted EPS were 13.9 cents compared to 4.4 cents last year. Net operating cash flow was $1.93m compared to $2.54m last year. The interim dividend declared was 6 cents, compared with 5.5 cents last year.
The Age 20/06/2013 |
Pre-split trading of shares in "New Newscorp," the print media-heavy spin-out from News Corp began quietly on Wednesday, and it will take a while to work out where the new vehicle is headed.
The Age 20/06/2013 |
Local councils that lost millions on investments made through Lehman Brothers have suffered a major setback, after the US arm of the failed bank blocked a deal that would have delivered the investors up to $210 million.
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