08/12/2022 10:27

Emerging Companies Portfolio – Amendments

We are trimming SFR & selling ASB

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26/08/2022 17:14

Austal (ASB) $2.60

ASB -2.26%: the shipbuilder announced a good set of numbers for their FY22 result today, though it failed to ignite the stock. EBITDA was in line with pre-guided numbers at $120.7m, up 5.3% on the back of the recently awarded OPC contract that could be worth up to $3.3b in revenue. It’s positive to see the new steel shipbuilding facility being put to...

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06/07/2022 09:37

Emerging Companies Portfolio

The portfolio was off -0.27% in the week against a weak market that fell -1.14%%. Cash remains at around 4% with no changes to the portfolio. Austal (ASB) was the star of the show adding ~30% following a good contract win while Praemium (PPS) +21% and Dubber (DUB) +18.7% bounced strongly. Tyro (TYR) -18.59% and Select Harvest (SHV) -10.44% were the biggest drags.

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01/07/2022 16:43

Austal (ASB) $2.25

ASB +25%: the shipbuilder rallied to a 9-month high today after winning a lucrative US Coast Guard Contract. Austal will build an offshore patrol vessel at their upgraded Alabama facility in what could become a $US3.3b contract if they can secure the remaining 10 ships expected from the order. While the contract is for FY23, Austal said they will now exceed previous guidance to hit at least...

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30/03/2022 09:38

Austal (ASB) $1.90

Shares in the shipbuilder fell during the week after it was announced it had been overlooked for a key Philippines Navy contract despite having a MoU in place on the deal. There are a number of other contract negotiations ongoing which we’re hopeful will end more favourably as Austal looks to replenish its order book. Yesterday, though, Twiggy Forest’s investment vehicle Tattarang announced it had acquired an 8%...

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23/03/2022 17:13

Austal (ASB) $1.775

ASB -11.25%: announced that they were overlooked for a key Offshore Patrol boat contract with the Philippines Navy despite years of negotiations. There was no value assigned to the potential contract however there was a Memorandum of Understanding in place and Austal would have been confident of securing the deal. Instead they’ll now look to fill the void with orders of commercial ferries to be built at the shipyard in the Philippines.

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23/03/2022 09:36

Emerging Companies Portfolio

The portfolio was up +5.26% in the week with cash sitting at a little over 13%. A strong showing across the board, Austal (ASB) was the only detractor from performance with a falloff less than 1%. Dubber (DUB) and Strandline (STA) were standouts, jumping 18% and 19% respectively. The Small Ords had a good week as well, continuing the rebound, but the portfolio outperformed the index’s 3.41% gain.

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25/02/2022 17:27

Austal (ASB) $1.915

ASB -1.54%: Released their 1H22 Result that was all okay, earnings slightly better than expected despite a 14% drop in revenue but that was a result of some releases of risk contingencies so the 2H will be weaker. That said, the key for ASB is all about winning major US Navy shipbuilding contracts and they believe they are well positioned and that ‘there are a lot of opportunities out there for us to go and win’. Some patience needed on this one.

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17/01/2022 09:28

Chapter 3 – Increase flexibility & quality

We have already touched on increasing defensives and cash through 2022 but what stocks to hold in respective sectors and the market as we alluded to earlier ultimately dictates portfolio performance and as we expect shorter and sharper cycles opportunities to buy & sell are likely to present themselves at regular times – not being active enough on the sell side was probably our largest portfolio detractor last year.

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25/11/2021 11:28

Emerging Companies Portfolio – Amendments

We are trimming ASB to buy ABB in the Emerging Companies Portfolio

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