Clean set of results for Cleanaway
Sustainable waste management services company, Cleanaway Waste (ASX:CWY), added 32.2% to Ralton’s flagship Australian Shares portfolio during August after rallying strongly on a clean set of profit results, improved capital position and evidence that CWY’s strategy is correct. Three highlights worth calling out are: 1) very strong cost control as forecast by new CEO, Vik Bansal, particularly in the Industrials segment, 2) improved operating margins and cash flow outlook for the Melbourne Regional Landfill (MRL), and 3) improved sales trends. On this last point, CWY has lost market share in waste collection in recent years, however various initiatives now appear to be gaining traction, boosting the top line. Given CWY has been a medium-term turnaround for some time, this was a particularly pleasing result. (VIEW LINK)
1 stock mentioned
Andrew has been with Ralton since its inception in 2006 and leads the investment management of Ralton’s managed accounts. He brings over 25 years of funds management and investment banking experience having held senior positions with major...
No areas of expertise