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

 

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news