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Business Description: Washington H. Soul Pattinson and Co. Limited (SOL) is a diversified investor in basic commodities such as building products, coal, equities, telecommunications, financial services and pharmaceuticals in Australia. SOLâ€™s main business activities includes: Investing activities, Coal mining, Copper mining and processing and Consulting.
Strategy Analysis: SOL strategy is based on conservative and diversified long-term investment. Through strict adherence to this strategy SOL has delivered well above average total shareholder returns over many decades. Mistakes have been made but the successes have far outweighed the disappointments. Management remains focused on creating long-term shareholder wealth from a sensible and conservative investment strategy. New Hope is driving the group at present and adding to cash reserves which will be invested sensibly.
Washington H. Soul Pattinson and Co reported NPAT down 25% to $74.26m for the half-year ended 31 January 2013. The regular profit after tax attributable to shareholders for the period was $71.4m, a decrease of 19.4% compared to $88.7m for the previous corresponding period. This net decrease was mainly attributable to a reduced contribution by New Hope and lower special dividend income which were partly offset by increased contributions by Brickworks and TPG Telecom. Revenues from ordinary activities were $384.32m, down 15.8% from the same period last year. Basic and Diluted EPS were 31.02 cents compared to 41.48 cents last year. Net operating cash flow was $77.84m compared to $30.98m last year. The interim dividend declared was 18 cents compared with 17 cents last year.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
The Age 19/12/2013 |
Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.
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