27/06/2022 17:16

Metcash (MTS) $4.30

MTS +4.12: The often forgotten poor cousin of Woolies & Coles reported FY22 earnings today that were ahead of expectations. Sales & earnings were a beat for the full year while sales growth of +8.6% to start 1H23 was also solid. All food divisions did well with market share growth evident while hardware enjoyed a  strong period across both trade & DIY despite rising inflation, weather, tight labour & product supply. The dividend of 21.5cps...

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25/05/2022 09:13

Active Income Portfolio

The portfolio slipped -0.20% for the week while cash sits at 1%. BHP Group (BHP) and G8 Education (GEM) both climbed more than 4%, offset by a ~10% fall in Metcash (MTS) and a -6.6% fall in Wesfarmers.

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20/04/2022 09:28

Active Income Portfolio

The portfolio added +0.48% for the week while cash sits at 3%.  AGL Energy (AGL) continues to perform adding a further +4.64% supported by Metcash (MTS) which added +3.03%. The biggest drag was Bank of QLD (BOQ) down -5.92% while G8 Education (GEM) fell by -1.84%. We made a number of changes to the portfolio during the week taking profits on National Storage REIT (NSR)

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13/04/2022 08:48

Active Income Portfolio

The portfolio added +0.68% for the week while cash remains at ~5%.  Strength in AGL Energy (AGL) continued with the position now up nearly 60% since purchase, while Metcash (MTS) also traded to levels not seen in over a decade. G8 Education (GEM) fell -7.83% to be the weakest link following a quarterly trading update that we discuss below.  

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09/03/2022 09:26

Active Income Portfolio

The Income Portfolio fell -1.26% over the course of the week and while the biggest decline came from Magellan (MFG) -19%, the stock is now less than ~1.5% of the portfolio given its poor performance, so it’s influence is declining. G8 Education (GEM) was also weak down -9.8% straight after purchase  - not ideal, while on the flipside, BHP +4.25% and Metcash (MTS) +2.7% were the main positive contributors.

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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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12/01/2022 09:26

Active Income Portfolio

The Income Portfolio is up +1.97% since our last update although it fell marginally this week, down by -0.20% in a market that lost more than 2% while cash remains at ~4%.  AGL Energy (AGL) was the main winner up +10.30% supported by BHP +5.36% & Alumina (AWC) +3.88%. On the flipside, Metcash (MTS) fell -4.47% while Smart Group...

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22/12/2021 09:25

Active Income Portfolio

The Income Portfolio was marginally lower during the week, down by -0.46% while cash remains at ~4%.  When considering Magellan (MFG) resides in this portfolio and fell ~30%, it wasn’t a bad effort really - position sizing the key highlighting just how important it is when a stock goes wrong.  On the flipside, our most recent (and unpopular) purchase...

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06/12/2021 17:00

Metcash (MTS) $4.24

MTS +7.34%: 1H results out for Metcash today and they were strong with EPS growth of 15% despite coming off a very strong comparable period i.e. the starting point was high. It was even more impressive considering the loss of its 7-Eleven contract while they also had lower tobacco profits which implies the rest of the business is accelerating. They went...

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30/06/2021 09:48

Metcash (MTS) $3.90

Portfolio holding Metcash (MTS) this week announced their full year results (April year-end) along with an off-market buy-back of up to $175m which will be very good for some holders.

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