I wrote this article last September (2011) called Roofing Week - 11 Months to Go and made some predictions concerning the rollforming industry - got some right, some close and some wrong. The revised list is below:
- Stratco still advancing into the retail and the shed/patio section performing OK.
- Metroll still silent - but word is they are struggling badly in the eastern states.
- Lysaght are still selling (reduced volume) and EBIT is way down - BSL is not the right company to manage them in the current market. BSL shares improved today - first time they've hit 40 cents plus. Shareholders are just hoping to get to 50 cents??? Annual General Meeting will be entertaining. All directors etc & management refusing to take bonuses. (Just want my job attitude).
- Stramit according to FBU report is also struggling but maintaining customer base at reduced EBIT. FBU is increasing greatly on the ASX. Seem to have cooled their relationship to BlueScope.
- Hills - could write a separate chapter - but main news released in Jennifer Hill-Ling report to shareholders indicated Electronics & Communications and Lifestyle & Sustainability did reasonably well while Orrcon and Fielders had a shocker (Korvest helped them both over the line). Annual General Meeting coming up on 1st November - with no indications of foregoing bonuses by anyone - a second strike could spill the board? Mr. Pretty due for some hefty bonus schemes so his performance will be watched closely. Can't say what will happen to Fielders - still up for sale and no buyers.
- Australias Federal Government total debt reaches $250 billion? If you count the states - the total is 1/2 a Trillion dollars??? Government has to cut back on massive spending.
- Resources Minister Martin Ferguson tells the truth about power price rises - which makes Julia Gillard look like the GOOSE - then the attack dogs of the UNION - Mr. Paul Howes (Mr. Big of Unions and PM protector) especially lashes out at Martin Ferguson as a traitor. When will this government get on with business instead of feeding these UNION fools who over the past year have exposed themselves for what they are - parasites and grubs!
|Princess Nora Bint Abdulrahman Uni.|