Pact Group (PGH) +5.66%: profit soared 44% to $50m in the half for the packaging business despite only a 1% improvement in revenues. Recycling has been the big beneficiary as companies continue to trend towards more environmentally sound practices. The rhetoric around the contracting business also looks to have changed with Pact now considering hanging on to the unit. It has been on the chopping block for 12 months now, part of the reason they were looking to sell was to improve the balance sheet which now looks in reasonable shape. The market appreciated the change as the company backed away from selling at a steep discount to the perceived value. Not looking to step up and buy though it looks good for a breakout around here.
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Ausbiz: James Gerrish on results with a focus on the growth recovery in retail.
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Markets @ Midday – Wednesday 17th August – Bapcor (BAP), Super Retail (SUL), Magellan (MFG) & CSL
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Weekly Video Update: James & Harry cover portfolio performance for July, and Income stocks to buy here & now.
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What Matters Today in Markets – Wednesday 17th August
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Ausbiz: James Gerrish on results with a focus on the growth recovery in retail.
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Markets @ Midday – Wednesday 17th August – Bapcor (BAP), Super Retail (SUL), Magellan (MFG) & CSL
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Weekly Video Update: James & Harry cover portfolio performance for July, and Income stocks to buy here & now.
Recorded August 10th August 2022
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What Matters Today in Markets – Wednesday 17th August
Daily Podcast Direct from the Desk
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