How to build a cash war chest and get permission to spend it
Thursday’s two big profit results show what investors want from Australia’s big companies. And it doesn’t have to be just buybacks and special dividends.
Dear chief executives and directors, want to know what your investors are after? Take a look at the results at GrainCorp and Incitec Pivot.
GrainCorp is sitting pretty on a $495 million core cash war chest. Chief executive Robert Spurway, having sold out of malt and got the business back to basics, wants to reinvest all of it and perhaps more. He wants to crush more seeds to be used to create sustainable fuels.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
