ASX Announcements
Change of Director's Interest Notice - McGregor
Change of Director’s Interest Notice
- Oct 29, 2024
- 2 pages
Change of Director's Interest Notice - Hartwig
Change of Director’s Interest Notice
- Oct 29, 2024
- 2 pages
July 2014
Speaking frankly, special dividends are happening
If there is one thing Australian investors love more than dividends it is franked dividends. Or fully franked dividends. And the market may be on the cusp of a franking credit windfall.
- Sarah Thompson, Anthony Macdonald and Gretchen Friemann
February 2013
Hills dumps its stake in Korvest
Hills Holdings has sold its 47.8 per cent stake in listed manufacturer Korvest, in a block trade through broker Taylor Collison.
- Sarah Thompson | Anthony Macdonald
January 2013
More sell-offs to come as Hills switches focus
Hills Holdings sale of its non-core healthcare equipment business yesterday was a sign of more things to come, with new chief executive Ted Pretty pressing the “sell” button on a number of other business units.
- Updated
- Sarah Thompson and Anthony Macdonald
February 2012
March 2010
Brief: Korvest
Korvest has announced a revision to the previous earnings guidance given with the announcement of the December results.
July 2008
Cervantes eyes Kyrgyzstan, Country Road looks sharp
Cervantes Corp (CVS) The seafood products group has produced one of the more eye-catching rallies of recent weeks, surging by two-thirds from 2.4¢ to 4¢ in June alone. The Perth-based group re-listed with a new name in January and has made sparingly few announcements since then, although its shares have gained nearly 40 per cent since then. The company is attempting to diversify away from its core business of aquaculture and abalone farming which has lead to some unusual proposals to shareholders. In its latest shareholder update on June 18, management said it planned to move away from seafood, possibly into mining, after being granted an option to participate in a gold mining project in Kyrgyzstan. Cervantes shares did little at the time of the announcement but have risen 60 per cent since, suggesting investors approve of the new direction. The board also said it was considering a proposal to merge its Abalone project "and/or extending it to include other parties in a West African country". From June to December 2008 the company expects to produce between 500,000 and 1,000,000 spat-size abalone for sale to overseas seafood growers. The company said it will consider expanding the program the following year. Korvest (KOV) The cable and pipe provider has remained below the radar over the past 12 months but has also managed to avoid the pain seen elsewhere in the small caps space over that period. Korvest shares were marginally softer on Wednesday, down 4¢ to $5.15 a share, ahead of the release of the company's full-year results on Thursday when it is expected to deliver a full-year profit slightly ahead of a year ago. Leveraged to the huge pipeline of infrastructure project work, the group is tipped to have enjoyed healthy demand for the group's steel and galvanising products. While thin institutional coverage of the stock means there is no real consensus, Credit Suisse's preview of the result foreshadows a small increase on the previous period with net profit of $5.1 million. Those who like the stock generally do so because of its track record of robust yields, and it is predicted to continue its policy of paying out 50 per cent of its earnings as dividends. Credit Suisse has an "outperform" rating on Korvest on the basis that although immediate share price appreciation is unlikely, its one-year price-earnings multiple of 9.4 times is still "undemanding" and will help its relative performance. Country Road (CTY) Apparel retailers have been among the worst-hit in the widespread sell-off of all things consumer-related and discretionary. But upmarket clothing group Country Road has managed to defy the malaise, forecasting double-digit sales growth for the duration of calendar 2008 as its shares chart fresh highs. Even as petrol prices have surged and interest rates have ratcheted up to their highest in 12 years, sales jumped 21.9 per cent to $289.7 million in fiscal 2008. In the traditionally more difficult second half of the year, sales rose by 11 per cent to $144.1 million. A concerted effort to reduce the retail price of Country Road's clothing over the last two to three years has paid dividends for the group in the tougher retail climate, softening the impact of the fallout in discretionary spending. At the current $3.75 level, shares are at a 52-week high, up 20 per cent since the start of the year.
- Emily Parkinson
May 2008
February 2008
Briefs
Adelaide-based manufacturer Korvest will pay a fully franked half-year dividend of 14¢ for the six months ended December 31 on March 7, up 1¢ on the previous corresponding period. Korvest - which counts Hills Industries as its biggest shareholder - said it expected to beat last year's annual result pending the completion of major projects. In the first half, net profit rose 4.6 per cent to $2.3 million. A strong performance from the EzyStrut cable and pipe support system division offset a fall in demand from other divisions. James Hall
- James Hall
August 2007
Tiddlers are in the swim
It is not uncommon during the reporting season for the results of smaller companies to go unnoticed, given the plethora of big firms that reveal their profits in the space of a few weeks.
- Trevor Hoey
August 2006
Battered stocks hold potential pay-offs
Some of the best share price gains after the reporting season come from companies that appear poised to recover from poor performances in the past. Cellnet, a market-leading Australian and New Zealand distributor of information technology, telecommunications and audio visual related products, fits this profile.
- Trevor Hoey