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Business Description: McMillan Shakespeare Limited (MMS) provide salary packaging to public and private organisations in Australia and New Zealand. MMS also provides a complementary fleet management service, including the procurement of motor vehicles and finance and the management of fuel card and service maintenance programs.
Strategy Analysis: For the 2010 financial year, the Group will continue to focus on obtaining new business, strengthening key client relationships and increasing client product density. With the continued development of new products and initiatives, the Group will also seek to enter into new markets and expand its client base. The salary packaging business will continue to provide an annuity income stream and allow cross-selling of novated leasing services and other product extensions into what has proven to be a very receptive client base. At the same time, the strong balance sheet and cash flow position allows the Group to look for well-priced bolt-on or related acquisitions
McMillan Shakespeare reported NPAT up 19.4% to $29.75m for the half-year ended 31 December 2012. Revenues from ordinary activities were $161.49m, up 12.6% from the same period last year. Diluted EPS was 39.28 cents compared to 34.64 cents last year. The net operating cash outflow was $9.86m compared to an inflow of $8.82m in the pcp. The interim dividend declared was 24 cents compared with 22 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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