AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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Thank grass8eater ...
was planning to get this counter when i saw your posting .
grass8eater ( Date: 05-May-2010 13:07) Posted:
DJ MARKET TALK: AusGroup Off 4.3%; OCBC Cuts To Sell, Cuts Target
0256 GMT [Dow Jones] AusGroup (5GJ.SG) down 4.3% at S$0.555 as prospect of more earnings disappointments weighs. Engineering contractor services companies engaged in development of natural resources, expects margin pressure to persist for next 3-4 quarters as contractors compete for fewer jobs over next 6 months. Increased competition has already taken toll on March-quarter results, with fiscal 3Q10 net profit down 37.5% on-year at A$2.6 million as revenue hurt by reduced demand in both Australia, Singapore markets, as well as project delays initiated by clients. OCBC says Australia's recent proposal for 40% tax on profits from resource companies could also cloud AusGroup's outlook; "we would prefer to see an actual reversal of trend in performance before pricing in further growth." Cuts to Sell from Hold, lowers target to S$0.43 from S$0.60 after cutting FY10-11 earnings forecasts by 23%-32%. Support eyed at February low of S$0.535. (frankie.ho@dowjones.com) |
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DJ MARKET TALK: AusGroup Off 4.3%; OCBC Cuts To Sell, Cuts Target
0256 GMT [Dow Jones] AusGroup (5GJ.SG) down 4.3% at S$0.555 as prospect of more earnings disappointments weighs. Engineering contractor services companies engaged in development of natural resources, expects margin pressure to persist for next 3-4 quarters as contractors compete for fewer jobs over next 6 months. Increased competition has already taken toll on March-quarter results, with fiscal 3Q10 net profit down 37.5% on-year at A$2.6 million as revenue hurt by reduced demand in both Australia, Singapore markets, as well as project delays initiated by clients. OCBC says Australia's recent proposal for 40% tax on profits from resource companies could also cloud AusGroup's outlook; "we would prefer to see an actual reversal of trend in performance before pricing in further growth." Cuts to Sell from Hold, lowers target to S$0.43 from S$0.60 after cutting FY10-11 earnings forecasts by 23%-32%. Support eyed at February low of S$0.535. (frankie.ho@dowjones.com)
AusGroup’s 3Q FY2010 earnings at AUD$2.6 million
Revenue 83,842 vs 99,555 (-15.8%)
Gross Profit 10,497 vs 15,097 (-30.5%)
Net Profit Attributable to Equity Holders 2,587 vs 4,139 (-37.5%)
today Wednesday May 5, 2010 page B3
Business
Australia raises Interest rate
Australia’s central bank yesterday lifted its main interest rate to 4.5 per cent, citing inflation concerns, rising house prices and a booming commodities trade linked to Chinese demand.
“The board expects that, as a result of today’s decision, rates for most borrowers will be around average levels,” Reserve Bank of Australia Governor Glenn Stevens said of the widely-expected 25-basis-point hike — the third in as many months and sixth since October last year.
Despite fears arising from the Greek debt crisis, world markets have been faring well and global growth forecasts were recently revised upwards, Mr Stevens noted. AGENCIES
May relook @ this counter again after sold all my holding @ 0.68..
please factor in "margin calls".
OVERSOLD!!!...
vested 58 -585..
time for a rebound
Since April 13th alert was given. I have nothing to gain.. I hate to see innocent pople get slaughtered.
grass8eater ( Date: 13-Apr-2010 16:44) Posted:
| Run while you can. Run run run before it's too late. |
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ALERT was give when it was still 60 cts. Beware of KOYOK. now it is 58.5 / 59.0cts
59.5 cts already here. Koyok cannot bring it up, also. Jia Lat for stubborn peoples... alert already given.
Sept11 ( Date: 19-Apr-2010 21:39) Posted:
Nah, 0.60 coming soon....
pharoah88 ( Date: 19-Apr-2010 11:50) Posted:
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Yes, good move. Sub < 60 cts will come.
bishan22 ( Date: 19-Apr-2010 14:56) Posted:
Cut loss @ 0.63  . Better move out before more blood flows out. |
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gOOd fOr AUD
pharoah88 ( Date: 03-May-2010 12:10) Posted:
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Mine our resources?
Then pay the taxman
Australia to impose 40% tax
on resource companies’ profits
pharoah88 ( Date: 03-May-2010 09:41) Posted:
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nO harm except that share prices of bOth BHP & RiO may DiP first and recover later.
As long as tax is based on profits, it is just a redistribution to benefit the nation, people as well as BHP & RiO in terms of Better Infrastructure for their transportation ease tOO.
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Ausie gorverment eye red !!
Corporate will tend to make mid to long term investments to postpone current profits and delay the taxation impact
pharoah88 ( Date: 03-May-2010 12:10) Posted:
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Mine our resources?
Then pay the taxman
Australia to impose 40% tax
on resource companies’ profits
pharoah88 ( Date: 03-May-2010 09:41) Posted:
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nO harm except that share prices of bOth BHP & RiO may DiP first and recover later.
As long as tax is based on profits, it is just a redistribution to benefit the nation, people as well as BHP & RiO in terms of Better Infrastructure for their transportation ease tOO.
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Mine our resources?
Then pay the taxman
Australia to impose 40% tax
on resource companies’ profits
pharoah88 ( Date: 03-May-2010 09:41) Posted:
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nO harm except that share prices of bOth BHP & RiO may DiP first and recover later.
As long as tax is based on profits, it is just a redistribution to benefit the nation, people as well as BHP & RiO in terms of Better Infrastructure for their transportation ease tOO.
pharoah88 ( Date: 03-May-2010 09:33) Posted:
May 2 (Bloomberg) — BHP Billiton Ltd. and Rio Tinto Group, the world’s largest and third-biggest mining companies, may decline in Sydney trading tomorrow after the Australian government said it will increase taxes on resource companies to help pay for infrastructure, retirement and company levy reforms.
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Today the stock broke 60 cts. Will this be the last chance to sell at at least 60 cts?
Retest of 53 cts ... here we come.
nO harm except that share prices of bOth BHP & RiO may DiP first and recover later.
As long as tax is based on profits, it is just a redistribution to benefit the nation, people as well as BHP & RiO in terms of Better Infrastructure for their transportation ease tOO.
pharoah88 ( Date: 03-May-2010 09:33) Posted:
May 2 (Bloomberg) — BHP Billiton Ltd. and Rio Tinto Group, the world’s largest and third-biggest mining companies, may decline in Sydney trading tomorrow after the Australian government said it will increase taxes on resource companies to help pay for infrastructure, retirement and company levy reforms.
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May 2 (Bloomberg) — BHP Billiton Ltd. and Rio Tinto Group, the world’s largest and third-biggest mining companies, may decline in Sydney trading tomorrow after the Australian government said it will increase taxes on resource companies to help pay for infrastructure, retirement and company levy reforms.
saw this piece of news --->
BHP Billiton, Rio Tinto May Lead
Mining Stocks Lower on ...: US Post Today. - BHP Billiton, Rio Tinto
May Lead Min...
Thursday: 29 APRIL 2010 CLOSING
S$0.610 +S$0.005
DOW PHOBIA
