Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Morningstar Equities Research - 5 July 2013

Sirtex Medical Limited SRX| Solid Fourth-Quarter Volume Growth Maintains Strong Momentum
Morningstar Recommendation: Hold
James Cooper, Morningstar Analyst - 

Sirtex reported a 13.1% increase in fourth-quarter fiscal 2013 sales. Sirtex's Americas division - its largest regional business - grew dose sales 17%. This is well above third-quarter growth of only 6.1%. The Asia-Pacific division grew volumes 21% (off a small base), while the Europe, Middle East and Africa (EMEA) region posted 1% growth. Dose sales for the full fiscal year 2013 grew 19%, compared with 23% in fiscal year 2012, 19% in fiscal year 2011, and 14% in fiscal year 2010.

Sky Network Television Limited SKT-NZ| Sky TV Rules the Roost in Pay Television, but Will Competition Intensify?
Morningstar Recommendation: Hold
Nachiket Moghe, CFA, Morningstar Analyst 
-

We're lowering our moat trend rating on Sky TV to negative from stable. We believe the Internet will become a viable option for distributing content to subscribers, thereby opening the market up to a whole host of competitors. We believe the current rollout of the ultrafast broadband network across New Zealand and the ensuing improvements in broadband infrastructure will act as a catalyst for streaming programs and videos via the Internet. Also, content disintermediation (i.e. content providers bypassing cable operators) could become more prevalent in the future than is currently the case, pitting Sky TV directly against content producers. These changes will likely weaken Sky TV's monopolistic position, and have the potential to pressure long-run margins and returns.

Tower - Downgrade due to price change
WorleyParson - Downgrade due to price change
Ardent Leisure - Downgrade due to price change
Computershare - Upgrade due to price change
Independence Group - Downgrade due to price change
Insurance Aust. Grp. - Upgrade due to price change
Fisher & Paykel Healthcare - Downgrade due to price change

Morningstar Equities Research Tables and Information:

http://img.scoop.co.nz/media/pdfs/1307/Morningstar_Equities_Research_050713.pdf

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news