05 July 2011
tagged: asx-sts construction mining-services | 0 comments
A solid profit guidance from Structural Systems this morning. The current FY11 NPAT guidance is between $4m and $4.5m. This means that the second half result was slightly better than the first half despite adverse weather conditions on the east coast. Their guidance is around 800K off my own forecast calculations and this may be attributed to the weather in Queensland where most, if not all, their mining services work is situated. The guidance also...
28 June 2011
tagged: asx-sts engineering mining-services | 0 comments
First entered the stock around 9 months ago and price action since hasn't been going my way. Structural Systems is an engineering company in mining services, civil and construction. The HY11 report has noted that they're still incurring some losses on their discontinued (formwork) business. What's more the closure of their formwork business has adversely impacted their concreting business. In reaction to this, they've decided to scale down their concreting business to stem the losses....
28 June 2011
tagged: asx-fge mining-services | 0 comments
Western Australian mining services company. Held a position in this company for 1.5 years and sold recently due to a profit forecast that while still good, was below my personal expectations. The price has come off a bit. Though the underlying fundamentals appear to be on the up with the company making three contract win announcements in the past month. These are signifcant contracts that are larger in size than previous contracts and shores up...
28 June 2011
tagged: asx-ccp debt-collection financial-services | 0 comments
Credit Corp is a debt collections company. Buys distressed debt from banks, financial institutions and lately telcos at a heavily discounted price, and attempts to collect the money back. Not the easiest company to judge because one of the major costs is debt ledger write-offs which management hold a lot of sway in. So it's important to keep a keen eye on amortisation, cash-flow, and collections revenue numbers. CCP was one of my first investments...