Investor Insights

September 24, 2021

Montgomery's Reporting Season Review

By Roger Montgomery

  Our domestic equities Portfolio Managers presented a live webinar for our clients this week discussing several themes that emerged during the recent reporting season. The Retail, Insurance and Bank sectors delivered a positive surprise, while Health, Staples and Utilities disappointed versus consensus.
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September 24, 2021

Why there’s a positive outlook ahead for IMDEX

By Dominic Rose

  IMDEX (ASX:IMD) delivered an impressive set of results for the financial year to 30 June 2021, which materially beat expectations and led to broker forecast upgrades. The two key points from the update include revenue growth of 11 per cent and EBITDA was up 39 per cent.
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September 15, 2021

Montgomery launches Global Small and Mid Cap Fund with Polen Capital

By Roger Montgomery

One of the most exciting parts of the market is the small and mid-cap space, where you can find companies that have grown their average annual earnings per share by a sustained 20 per cent. In the cases where these companies can also internally fund their growth, strong long-term investment returns typically follow.
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September 10, 2021

Three reasons why I am still bullish on this market

By Roger Montgomery

Over the past 12 months, the All Ordinaries index and the S&P 500 have risen around 26 and 35 per cent, respectively.   Not bad when you consider the economic ravages of the COVID-19 lockdowns. But despite these strong performances, there are three good reasons to believe sharemarkets will continue to climb over the coming year.
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September 7, 2021

A small cap embedded in a multi-year growth opportunity

By Roger Montgomery

Macquarie Telecom (ASX:MAQ) is a data centre owner/operator with facilities in Sydney’s CBD, Macquarie Park in Sydney’s north, and Canberra. MAQ’s cloud services generated 46 per cent of the company’s revenues in FY21, while telecom services, in which it competes with Telstra, Optus, TPG and Vocus, and includes data, voice, mobile and colocation generated 47 per cent of revenues.
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September 2, 2021

Ramsay Health Care set to benefit as the world opens up

By Andreas Lundberg

The COVID-19 pandemic has dented the profits of Ramsay Health Care (ASX: RHC), Australia’s multinational healthcare provider and hospital network. The good news is that earnings are growing again across key regions as lockdowns and restrictions start to ease. And an increased final dividend signals that the company expects a better year ahead.
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August 26, 2021

Why I think Scentre Group shares are still good value

By Andreas Lundberg

In March 2020, during the COVID-19 sell-off, the share price of shopping mall company, Scentre Group (ASX:SCG), hit a low of $1. 51. It’s been a bumpy ride since then, with more lockdowns, but the share price has recovered nicely.
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August 25, 2021

After a record year, what next for Adairs?

By Stuart Jackson

As with many other discretionary retailers, FY21 proved to be a bumper year for homewares and online furniture retailer, Adairs (ASX: ADH). The company enjoyed record sales growth and operating margins. But there are already signs that FY22 will not be as easy.
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August 23, 2021

Six companies of interest in reporting season

By Roger Montgomery

The COVID-19 pandemic, and associated lockdowns, have impacted some businesses very positively, but been less kind on others. These impacts are coming to light in the current FY21 reporting season. Here, I’d like to highlight the results of six companies I’ve been following for a while.

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August 20, 2021

Plenty to like in Spark NZ’s FY21 result

By Andreas Lundberg

Funds in the Montgomery stable are long-time holders of Spark, New Zealand’s leading telco. Spark is a steady performer, and a consistent dividend payer. And its recently reported full year results paint a picture of a telco in good financial health with potential for value creation by capital recycling.
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August 19, 2021

Are the halcyon days over for discretionary retailers?

By Roger Montgomery

Last year’s JobKeeper payments provided a handy tailwind for many of our discretionary retailers, particularly those with a strong online presence. But was this as good as it gets?  It looks like it, if the recent sell-off in some of our better known retail names is anything to go by.
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