Austal: full steam ahead Designer and manufacturer of defence and commercial ships, Austal (ASX: ASB), on Friday experienced one of its key catalysts that we...

Austal: full steam ahead Designer and manufacturer of defence and commercial ships, Austal (ASX: ASB), on Friday experienced one of its key catalysts that we had discussed in our recent investor roadshow. US Secretary of Defence, Chuck Hagel announced that the Navy is to move forward with the expansion of its LCS (littoral combat ship) program. We continue to like the longer term fundamentals of this business and look for more of our identified catalysts to be realised going forward. The shares closed up 4.9% on Friday. We own ASB in the investment portfolio.