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

 

Planes: Jetstar Launches Regional Network

Jetstar, the Qantas Airways budget offshoot, launched its new regional network in New Zealand with special $9 one-way fares and has narrowed down its choices to five routes and four destinations - Nelson, Napier, New Plymouth, and Palmerston North. More>>

ALSO:

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news