Costa is Australia’s leading grower, packer and marketer of premium quality fresh fruit and vegetables. Their produce is supplied to all the major Australian supermarket chains, as well as independent grocers and a range of food industry stakeholders. Show More

We have decided to take a look at the major banks in Australia. There are a number of reasons why stock market investors are worrying about the Australian banking sector which we outline below, followed by a discussion on each of the major banks. Show More

Given the recent negative report published on Credit Corp (ASX: CCP) please find following a note we recently wrote on Collection House (ASX: CLH), their biggest competitor: Show More

Janus Henderson Group (JHG) is a global asset manager listed on the ASX and NYSE. In 2017 London based Henderson Group (which was created after its spin-off from AMP in 2004) merged with US based Janus Capital to form Janus Henderson. The company provides investment management services across retail and... Show More

Caltex Australia Limited is the leading provider of transport fuels in Australia, providing about 20% of the total fuel market. In addition to being a vertically integrated supplier of fuel, Caltex operates Australia’s largest convenience retail network of fuel and convenience sites trading under the Star Mart brand; with more... Show More

The now famous “toll bridge” reference to investing was made famous by Warren Buffett. This is not to say that you should literally invest in a toll bridge, but rather in the type of investment that works much like one. They make great growth investments when you can find them... Show More

Harvey Norman Holdings Limited is an Australian based multinational business whose principal activities primarily consist of an integrated retail, franchise, property and digital enterprise. Show More

Boral Limited is a multinational company dealing in building and construction materials. Founded in Australia, it also has extensive operations in the United States and Asia. Boral has a diverse area of operations within the building industry, including asphalt, road line marking, concrete, plasterboard, timber, windows, quarry, landfill, transport, roof... Show More

Established in 1998, Webjet is the leading online travel agency (OTA) in Australia and New Zealand, leading the way in online travel tools and technology. Webjet says its focus has always been to offer the greatest convenience and choice by enabling customers to compare, combine and book the best domestic... Show More

Whilst we don’t see a return of Santos to a share price above $10 anytime soon, a level seen only a few years ago, we believe long term investors should be thinking of accumulating troubled situations such as this for a turnaround. Show More

Caltex is the leading provider of transport fuels in Australia, providing about 20% of the total fuel market. In addition to being a vertically integrated supplier of fuel, Caltex operates Australia's largest convenience retail network of fuel and convenience sites trading under the Star Mart brand; with more than 620... Show More

We are true long-term investors. We often identify our best investment opportunities in businesses that are out of favour. Typically these genuine opportunities are found within industries that are going through severe cyclical change. It is here that share prices will often be at their most volatile. Prime Media has... Show More

We last covered Challenger in April 2016. It’s a company we have liked for some time and currently hold in a number of client portfolios. We’ve been buyers of the stock since mid-2013 when it was selling for around $4 per share. The company is now trading above $13.00 so... Show More

Silver Chef Limited (SIV) is an Australian based business involved in leasing, lending and renting, focused on the hospitality sector. On November 17th 2016 Silver Chef announced to the market that it had been the victim of a fraud event. The share price initially dropped 18% on the back of... Show More

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  SIV.pdf (198 KB)

Following Bellamy’s 43% one-day fall earlier this month, it’s worth revisiting comments recently made by our Managing Director, Charles Leyland, in an interview with Livewire: “It was faddish, it’s come off a bit. We saw after the dot-com boom that stocks that fell in half, they kept falling. If you... Show More

Japara Healthcare is one of Australia’s largest private sector enterprises in the aged care and retirement industry. JHC stock dropped 20% this year on the back of the government’s review of aged care funding. We are not overly concerned about the changing regulatory environment, as it is prudent for the... Show More

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  JHC.pdf (1.05 MB)

Greencross Limited (GXL) is Australia’s largest provider of veterinary services and pet care retailing. In 2014, GXL acquired Mammoth; the owner of Petbarn and Animates. ABS stats indicate that c. 63% of people now own pets, with c. 60% of those considering their pet a member of the family. This... Show More

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  Leyland_Lines_October_2016_-_GXL__FLT... (1.1 MB)

Medibank Private Limited is Australia’s largest health insurer with 3.8 million members giving it 29% of the market. The company operates under: 1) Medibank, the premier product & 2) AHM, a budget-friendly option. Last year, the government outlined several risks to the sector, including an ageing population, growth in chronic... Show More

• PDF ATTACHED

  Leyland_Lines_September_2016_-MPL.pdf (193 KB)

Today’s movements in the outdoor media sector highlights the importance of not overpaying for a company, no matter how good the business. Whilst APN Outdoor today delivered a highly credible result (and is a quality business), the shares have fallen 33% due to forecast revenue growth falling slightly below market... Show More

"CBA's core business was strong while its wealth division and insurance division showed reasonable growth" says Alex Leyland, senior portfolio manager at Leyland Private Asset Management. Watch the video here: http://video.cnbc.com/gallery/?video=3000541804 Show More