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

 

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Cyclone Cook: Round Up Of This Week’s Weather

One of the significant impacts this week was flooding due to excessive rainfall amounts. Rainfall amounts topped out at 350mm over the past 60 hours in parts of northwest Nelson, with 200mm+ measurements recorded about Coromandel Peninsula, and between 150-200mm in the Kaimai Ranges. Rainfall amounts of between 30-50mm were commonplace elsewhere. More>>

ALSO:

Earlier: Batten Down The Hatches For Cyclone Cook

Although fast-moving, Cyclone Cook will be destructive and MetService Expert Meteorologists have issued Severe Wind Warnings for the whole of the North Island apart from Northland... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news