20/02/2024 16:44

SRG Global (SRG) $0.765

SRG +4.79%: the mining and asset services contractor announced 1H results today, impressing the market and taking its share price to 10-month highs. Revenue grew 34% to $510m, while earnings (EBITDA) were up 33% to $45m, around 10% ahead of expectations.

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06/02/2024 09:20

SRG Global Ltd (SRG) 68c

Construction services company SRG is a high-quality business that looks set to win ~$1bn in contracts this financial year, with cash conversion likely to rise through FY24, helped by its stable of top-quality clients, including the Government, BHP (BHP) and South32 (S32). It's still cheap, below 70c, making it an excellent opportunity at the smaller end of the market.

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20/09/2023 09:17

SRG Global (SRG) 66c

The mining and services contractor has fallen by -7.04% since the start of the month, though partially offset by a 2c fully franked dividend. The fall has come on the back of pressure on the value end of the market, but also attributed to a softer outlook for infrastructure which has weighed on the space with selling pressure on SRG compounded by what was perceived as a weak result by the market – we discussed the result here. In our view, the stock is cheap and we have no major concerns with their outlook, the market does not agree with this view for now!

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22/08/2023 17:04

SRG Global (SRG) 72c

SRG flat: the engineering company was out with FY23 results today which came in ahead of expectations however the stock failed to react as we would have expected. Revenue was a ~6% miss, mostly on the timing of payments, while EBITDA was a small beat.

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18/05/2023 09:25

Emerging Companies Portfolio – Amendments

We are upweighting SRG & PDN in the Emerging Companies Portfolio

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10/05/2023 16:53

SRG Global (SRG) 75c

SRG +4.17%: the engineering and contracting company upgraded FY23 EBITDA guidance by ~8% today, largely on the inclusion of the recently acquired Asset Care business from ALS. The new division is expected to contribute $4.5-5m in EBITDA, while there was a slight upgrade to the performance of the rest of the business with the company tightening the guidance range to $79-80m.

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22/03/2023 09:24

Emerging Companies Portfolio – Amendments

We are making a number of amendments to the Emerging Companies Portfolio.

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02/02/2022 09:25

Emerging Companies Portfolio

The portfolio was up +3.36% during the week with cash still sitting around 1%. We made a few changes to the portfolio this week, exiting SRG Global (SRG) & Shaver Shop (SSG) while adding to a number of existing positions that we believe are oversold.

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31/01/2022 12:22

Emerging Companies Portfolio – Amendments

We are making some changes to the Emerging Companies Portfolio today, selling SSG & SRG & increasing existing positions in ABB, AD8, DUB, EML, & PDN

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16/11/2021 17:16

SRG Global (SRG) 52c

SRG +4%: the mining and asset services company announced a number of new contract wins today worth around $110m.  It includes two 3 year mine maintenance contracts, a 3 year engineering services contract for NZ dairy producer Fonterra and two deals with Rio Tinto for work on their Queensland alumina refinery. The key will now be margins – services...

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