To start with in the last week of October is a review of all the current companies to the stock market and their individual performance in the last month or so:
Plus a great read by Bill (the builder) at the very end. Here's his photo as an entre.
|Here's Bill - at the end is a link to his BLOG site. |
Thumbs up Bill.
1. BlueScope (Lysaght)
A company (through bad management) still on the ASX at just below 50 cents today. Expectations are to reach $1.00 in a year or so. Not a good overall guide but better than some. Lyasaght has been quiet in sales and negative EBIT as per FY2012 results are not indicating any change. All rollformers are struggling with the construction industry huge slump.
2. Hills Holdings (Fielders)
Hills announce today that Resolution 6 has been withdrawn from the upcoming AGM. Poor Mr. Pretty won't get his 850,000 performance rights voted on - it's been put off until an EGM in March 2013. What about the current resolutions left - maybe the board could have culled some of the re-election ones instead of hitting on the new bloke. Here's the transcript from the release:
Hills Holdings Limited (ASX:HIL) announced today that following Release to Market on 18 October 2012 advising of a decline in its business activity in the first quarter of this financial year, the Board has resolved to withdraw the resolution for the issue to Edward Noel Pretty or his nominee of 850,000 Performance Rights under the Hills Holdings Limited Long Term Incentive Share Plan.
The Chairman, Ms Hill-Ling said, "The Board recognises that a number of shareholders had already lodged proxies relating to this resolution prior to the recent downgrade announcement and presentation on strategy, structure and cost reduction initiatives at the AGM on 1 November 2012 and considered it was in shareholders’ interests to withdraw the resolution at this time."PPT also bowed out in a big way as a major shareholder of Hills Holdings and must have lost on the investment. Some estimates are close to $20 million? See one transaction alone here ASX Announcement. What's the future here? Fielders worse off in the east and west - South is very competitive.
"A resolution regarding the issue of performance rights to Mr Pretty will be put to shareholders in or about March 2013 at an EGM when they have had the opportunity to consider all matters relevant to the issue" she said.
3. Fletcher Building (Stramit)
Fletchers has hit the $6.00 mark this month but back to a stable $5.60 plus currently. Stramit hurting also on the eastern states and no different to others. This company will see out the bad times and come back bigger and better than before.
New catalogue out now and lots of specials, they seem to be doing the BIG RED BOX at Stratco well. The roofing & rollforming is the same as all the rest - fighting for orders, yet the sheds and patios are still travelling OK.
Still the same but rumours are saying they have big staff problems. Many are leaving.
6. APEX, Revolution & Steeline.
These three are spread all over Australia and seem to have been making inroads into the 5 above. Something will have to give and these three will still be there at the end. Experience, local knowledge and consistency seem to be their hallmarks.
Out of left field comes this old BLOG site by Builder Bill:
|Builders Bills Blog - loves steel roofing - based in NT|