Dodging bullets

From a post made on 20th February 2013 Ecosave (ASX:ECV) – $1.39 Lumpy. From an outsider it looks as though there is a possibility of missing the bullish prospectus forecasts. Have since decided to watch from the sidelines. Looks like I wasn't too far off with Ecosave (ASX:ECV) making an announcement today after market close. In the Company’s Initial Public Offering prospectus, Ecosave gave a FY2013 forecast of net profit after tax from operations of...

Colour me successful integration?

Colorpak Limited (ASX: CKL) is an Australian company offering product packaging solutions - folding cartons, paper cups and lids, printed leaflets, printed blister and lidding foils, printed self-adhesive labels, sachets and point-of-sale displays. In March 2011, the $50-odd million market cap company spent $5m to acquire Carter Holt Harvey's folding carton business. The acquisition would more than double Colorpak's revenue (to ~$210m pa) and to place the company on an equal footing with Amcor (ASX:AMC)...

Failure to disclose

Cash Converter's (ASX:CCV) share price has received a battering over the past couple of weeks. It was only after a reverse speeding ticket from the ASX did they come clean. Due to the  new Consumer Credit Legislation Amendment (Enhancements) Bill 2012 which commenced 1st March, applying for cash advances have gotten more complicated process wise for both consumers and staff. As a result, cash advances are down 2.4%, 26.3%, 12.6% over the past three month...

Credit Corp Group (ASX:CCP) May 2013 Update

Thursday saw another positive update from Credit Corp Group (ASX:CCP), pushing revised targets to the upper end of the previous guidance in from December. Now December 2012 PDL acquisitions $125-130m $105-$125m Earnings underlying $28-29m (61-63cps) $27-29m (59-63cps) Earnings Reported $30-31m (65-67cps) $29-31m (63-67cps) One thing to keep an eye on is the progress of the startup business in the US. After a slow start, it's starting to gain traction with recent purchases in line with...

Beyond International Limited (ASX:BYI)

Beyond International is into TV program production, TV/film distribution (mostly in-house productions), home entertainment (i.e. DVDs)  and digital marketing. The home entertainment division is shrinking, both in revenue and staff. Digital marketing is only break-even at this point and in a midst of a restructuring that could take some time. The core of Beyond is making TV programs and distributing them for both local and international markets. Some of the better known productions include MythBusters,...

Half Yearly FY13 one liners

Half yearly reports are rolling out and I'm having a read like everyone else. There's not much for me to elaborate on, apart from some quick one liners on a few companies I took notice... Cash Converters (ASX:CCV) - $1.30 Booming. Great result across the board and putting raised funds to new store acquisitions - which will offset dilution and then some. A quality company that is still displaying value. Credit Corp Group (ASX:CCP) -...

Empired Ltd (ASX:EPD)

The IT consulting landscape in Australia is changing. It's probably a combination of an in-sourcing trend, cuts in government spending, a reduction of non-core customisations/development work (eg. intranets) and a shift to cloud services. Consulting firms that have been previous star performers, such as DWS (ASX:DWS), Oakton (ASX:OKN), SMS (ASX:SMX) and ASG Group (ASX:ASZ) have seen growth stall. But with change comes opportunities, and one company that is doing well in this challenging environment is...

Ecosave Holdings (ASX:ECV) IPO

According to the Australian Bureau of Statistics, energy costs for manufacturing and households have increased by 61% and 72% respectively since 2007, outstripping inflation by nearly 5 fold. This is mainly due to an increase in network costs and to a lesser extent the carbon tax. With the escalating costs of energy, businesses are putting increased emphasis on energy costs. Companies that assist in this area such as Energy Action (ASX:EAX) has benefited with its...

Update on three "poverty" companies

Credit Corp Group (ASX:CCP) The AGM came and went. I was expecting a profit upgrade, but it didn't eventuate. However the guidance for PDL purchases in FY13 was upgraded to $70m - $90m (previously $50m - $70m). While conditions are tough with PDL prices at elevated levels, the collections run rate for the the first 4 months of the financial year is at record levels. And the US debt collection business and consumer lending business...

Revisited: Battle of the debt collectors

A year has gone by since I last did a peer comparison between Credit Corp Group (ASX:CCP) and Collection House Limited (ASX:CLH) - go read it if interested, much of it remains relevant today. The two companies have had share price appreciation of over 40% since, so certainly very happy shareholders from both camps. There are some key differences in important fundamental indicators such as cashflow, debt levels and return on equity. But what I...