One standout from reporting season

There weren’t a lot of surprises from this reporting season, says Romano Sala-Tenna, Portfolio Manager at Katana Asset Management. For them, results confirmed expectations of subdued revenue growth, with earnings growth being achieved through cost-cutting. “The one thing that was a little bit different than what we were expecting was how brutally the market dealt with companies that did miss their numbers, even by small amounts.” He identified Mineral Resources (MIN) as one of the standout results from their portfolio. “The market had taken the iron-ore overlay and forgotten about their fantastic underlying mining services business.” Whilst they’ve been selling into the recent strength, he says it’s a company that they could revisit and buy back in at any time. Watch the full interview below: