As a former Orica Employee, I can vouch for the fact that Broomhead has cut spending and staff to the bone. No capital or discretionary spending for 3 years. Some of this is unsustaniable in the long term. IT systems will need to be upgraded, technology advances implemented to gain produtivity increases etc...
I do not see a large turnaround in sales or margins in the next two years. So when plant and equipment needs to be replaced/repaired in approx 2 years, the costs will start to rise again. Static sales and rising costs mean reduced profits.
I still own about 1/2 my Orica Shares. Sold some at $9. I have revised my sale target from $10 to $11, but intend to hold for no more than two years due to the profit squeeze that I think will come.
Al Baby
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Last
$18.22 |
Change
-0.320(1.73%) |
Mkt cap ! $8.856B |
Open | High | Low | Value | Volume |
$18.46 | $18.46 | $18.18 | $15.61M | 855.8K |
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2 | 1465 | $18.20 |
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2 | 1235 | 18.150 |
1 | 2661 | 18.140 |
1 | 28 | 18.130 |
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Price($) | Vol. | No. |
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18.220 | 6138 | 1 |
18.230 | 6000 | 1 |
18.240 | 1235 | 2 |
18.250 | 2661 | 1 |
18.260 | 5453 | 1 |
Last trade - 16.10pm 29/05/2024 (20 minute delay) ? |
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Last
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Change
-0.320 ( 2.09 %) |
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Open | High | Low | Volume | ||
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Last updated 16.10pm 29/05/2024 ? |
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