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Business Description: Thorn Group Limited (TGA) is an operator in the household goods rental market in Australia. TGA provide a range of audio/visual products, kitchen and laundry appliances, computers, furniture and fitness equipment through its Radio Rentals and Rentlo national store network. TGA also provides other services through its Cashfirst, Thorn Business Services, Thorn Equipment Finance and National Credit Management Limited.
Strategy Analysis: TGA's broad strategy is to become Australia's leading provider of retail and financial services to the sub-prime consumer and commercial markets. They aim to continue to grow revenue in the core Radio Rentals and Rentlo (RR&R) businesses through continuation of their effective marketing campaign and the re-design of a number of their stores. Since 2011, TGA has focused on growth in financial services with the acquisition of NCML, the start-up of Thorn Equipment Finance (TEF) and Cashfirst.
Thorn Group reported NPAT down 2.1% to $14.01m for the half-year ended 30 September 2012. Revenues from ordinary activities were $100.46m, up 4.1% from the same period last year. Diluted EPS was 9.55 cents compared to 9.77 cents last year. Net operating cash flow was $48.75m compared to $34.82m last year. No dividend was declared.
By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 |
Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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