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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. SOL‚Äôs 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.
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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