See what The CEO's thought of Tourism, Vitamins and Commercial Property this week

NAOS Asset Management

“Currently less than 10% of Chinese nationals actually hold a passport, and that's a population of 1.3 billion. The opportunity for tourism in New South Wales and Australia is massive” Geoff Culbert, CEO, Sydney Airport Show More

What Mattered Today; BHP just out - looks a miss

James Gerrish

Stocks were weaker again this morning in early trade, before buyers stepped up to the plate throughout the day and the index grinded higher – closing near its highs. A barrage of reports hit the mkt pre-open (and BHP just out now) and that kept the desk busy early on... Show More


HRL Holdings: Another ALS in the making?

Mark Tobin

As noted in a previous article one of the ways to discover new ideas for further research is to look at stocks hitting new 52 week lows or 52-week highs for that matter. One such stock hitting 52-week lows which has come my attention is HRL Holdings (HRL:AX). Show More


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Quality small-caps battling the headwinds

Monash Investors Pty Limited

Out of the top 12 companies held by the Monash Absolute Investment Fund, 7 beat analyst earnings expectations during the recent reporting season. However, the headwind against smaller growth companies that started in October continues. So despite a “good” results season, the fund went backwards. Show More

The end of momentum

Avoca Investment Management

In the podcast below, Jeremy Bendeich, Chief Investment Officer and Portfolio Manager at Avoca Investment Management discusses his overall impressions and trends for the reporting season. He discusses the following six key points: Show More


5 top wires last month

Alex Cowie

In case reporting season kept you busy, we've summarised five top wires in February for you. Peter Quinton’s top ten picks for 2017, our fund manager earnings results review, and Buy Hold Sell with ‘Quality stocks on sale’ all deliver useful stock ideas. On big picture thinking, we bring you... Show More

5 stocks that impressed ... and 1 that bombed

Livewire Exclusive

A group of Australia’s leading Fund Managers have each picked one stock they believe delivered a notable result this week. Sectors covered were diverse, including energy, tourism, materials, media, services, and consumer discretionary. The common thread among the outperformers is they have all ridden industry dynamics - and executed well... Show More

Greencross has put old issues behind it

Julian Babarczy

At Regal, we favour a forward-looking mindset, which affords us the luxury of not being burdened by issues of the past, especially when we believe they are unlikely to impact future performance. A good case in point is the result this week from animal care retailer and veterinary operator Greencross... Show More

asx:gxl February 2017 Reporting Season

Sunset Strip > Australian Market Trading Day Wrap

Mathan Somasundaram

Afternoon report with the Australian market aimless as the US was shut for President's Day: Show More

Greencross: A clear path to growth

Leyland Private Asset Management

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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Daily AGM Note, Tuesday 25 October 2016

Avatar fallback

A couple of first strikes already today at Lantern Hotel Group and at Chalmers Ltd, a second strike but no Board Spill at Australian Ethical Investment, plus some evidence of dissent on director elections and LTI grants across several other companies, including Tabcorp Holdings. You'll find today's note at this... Show More

Looking for opportunity in mergers, acquisitions and spin-offs

Buy Hold Sell

Corporate transactions have a mixed history in Australia, the mention of roll-ups brings bad memories of disasters like ABC Learning for investors. There’s a stark contrast in the fortunes of spin-offs like Orora, which has doubled since listing in late 2013, and South32, which at one point had fallen by... Show More

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3 common causes of stock mispricings

Monash Investors Pty Limited

Most investors would be satisfied with a 6 out of 10 hit rate on their stock picks. Simon Shields and Shane Fitzgerald from Monash investors say they have been consistently hitting 8 out of 10 and share a few key ingredients to their success. A core focus of their process... Show More

Greencross (ASX:GXL)

Leyland Private Asset Management

Greencross is Australasia’s leading specialist retailer of pet food, pet products and operates Australia’s largest veterinary services business. Greencross’ strategy is to continue to consolidate the fragmented pet industry aiming for 20% market share.. Industry estimates state that Australia currently spends $8.7 billion on their pets ($2.5 billion on vet... Show More

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Michael Glennon: One great small cap idea

Livewire Exclusive

Savvy investors who bought Greencross Limited (ASX: GXL) back in 2011 – 2012 will know how quickly a business can grow through acquisition. Michael Glennon of Glennon Capital believes recent listing National Veterinary Care (ASX:NVL) is well positioned to execute a similar roll-up strategy, “it’s a recent float, it’s trading... Show More

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Growth vs Value – Are fortunes changing?

Bennelong Funds Management

‘Growth equities’ (or long duration stocks) has been a strongly performing strategy for the past five years, easily outperforming the other dominant fundamental style of ‘value’. Much of this outperformance has been driven by the fact that a declining risk-free rate favours long duration assets over short duration assets. With... Show More

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Greencross (GXL) Having a Dog of a Day

Livewire Equities

GXL has been under pressure, with the stock down ~30% for the qtr so far. GXL operates the largest network of veterinary service clinics and specialist pet retail stores in Australia. The market is concerned by the company's pace of growth, given the risky combination of rapid growth/ high gearing... Show More


Buy Hold Sell – Roll Ups: SHL, SGH, GXL, GEM, ONT

Buy Hold Sell

In this episode of Buy Hold Sell the panel discuss five companies that are growing by acquisition or industry consolidation. In recent times ‘roll ups’ have seen some high flying success stories and some equally dramatic unravels. Don Williams from Platypus Asset Management and Roger Montgomery from the Montgomery Fund... Show More


Greencross' business model could be disrupted

Bennelong Funds Management

Greencross operates Petbarn and City Farmers retail stores. We recently researched which we believe is an emerging disrupter. Petfood is the most important component in a Pet retailer’s inventory. It is the staple that draws consumers back to the store, and that foot traffic leads to additional purchases of... Show More

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Keep the faith in Greencross

OC Funds Management

National provider of veterinary services and pet care retailer, Greencross (GXL) (-16.8%), had a disappointing month as investors became increasingly concerned that management needed to temper earnings guidance coming into the financial year end. Indeed at the start of May, GXL did pare back guidance, albeit by less than 10%,... Show More

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