AGM season kicks off

Wilson Asset Management

Wilson Asset Management

AGM season kicks off. The AGM season got going in earnest last week. Slater & Gordon, one of our largest positions in the investment portfolio held its AGM. The resulting news flow was positive and SGH confirmed profit guidance for the financial year of $115-120million EBITDA and its intention to grow organically and via acquisitions in the UK. Amalgamated Holdings also had positive comments at its AGM, citing a good start to the year driven by an outstanding ski season in Thredbo and strong performance of the German cinema business. We own AHD in the investment portfolio. Other companies with topical AGMs last week included Super Retail Group and Bradken Limited. Super Retail Group, the owner of brands such as Rebel Sport and Ray's Outdoors, came out with weak trading figures, especially in its leisure brands, while Bradken Limited announced a slight downgrade to its earnings estimates and communicated an update around its cost-cutting program. We don't own SUL or BKN in the investment portfolio.


Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...

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