BigAir HY14 numbers (BGL)

BigAir released their HY14 numbers today, and while the topline numbers are growing at a steady rate (19% against PCP) the bottom line continues to accelerate with NPAT up 44% and operating cash flow up 25% to $5.6m. My concerns around a different balance sheet profile don’t seem too big a deal now as management … More BigAir HY14 numbers (BGL)

Warren Buffett’s 2013 letter to investors has been released

You can find a copy here: I’ve been reading the Buffett letters for years, and have read the historic reports dating back to 1977.  My main interest is the colour Warren puts on his approach to a manager, and his openness with investors.  He uses increases in book value against the S&P500 as a yardstick … More Warren Buffett’s 2013 letter to investors has been released

Colorpak HY13 numbers (CKL)

Colorpak’s HY13 results were released recently, and are now giving a picture of what the entity will look like post-consolidation.   HY13 figures are as per below: Revenue: 92.7m EBITDA: 10.7m (11.5%) NPAT: 4.7m (5.1%) EPS: 5.8c   On the surface, it appears Colorpak have transitioned quite well through the CHH acquisition, emerging with a … More Colorpak HY13 numbers (CKL)

HGL – Like a cancer to be removed (HNG)

After a year’s patience with HNG I’ve decided to sever my relationship with the holding and my book is already thanking me for it. It had a big margin of safety which was unfortunately eroded by multiple businesses losing money, particularly Biante.  If the business had stayed profitable, I could have justified maintaining my holding, … More HGL – Like a cancer to be removed (HNG)