Bank of Queensland

Morgans Financial Limited

Morgans Financial Limited

Management were upbeat after reporting a strong result. The market expected the opposite, based on the theory that Queensland's economy was being brutalised by the continuing slump in the resources sector. CFO Anthony Rose explained that the QLD economy has been dealing with the thermal coal drag and a dramatic drop in public service jobs for well over 12 months. The delta change has been the positive impact the low A$ is having on tourism and export receipts. BOQ is also starting to see positive interstate migration driven partly by the gap between Sydney house prices and those in SE QLD. This month BOQ rolls out its mortgage broker IT system and this should add support to a sales channel with strong momentum. The share price has bounced recently, but on a PE of 12.7 and with arguably more growth potential than some of the majors, Bank of Queensland still looks like fair buying.


1 stock mentioned

Morgans Financial Limited

Morgans is Australia's largest national full-service retail stockbroking and wealth management network with over 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices in all states and territories.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.