His track record is better than most and unlike others he does COMMIT to a position, rather than have a foot in each camp like many of the other analysts.
Most analysts now seem to use the word volatility to cover themselves for any eventuality.
HUNTLEY INVESTMENT CO: PROFIT UP 80.3%, DIV 2.5C FF, SAYS VOLATILITY IS A CORRECTION IN ONGOING BULL MARKET 184 words 20 August 2007 Australian Company News Bites English Copyright 2007 News Bites Pty Ltd. All Rights Reserved
AUSTRALIAN COMPANY NEWS BITES
SOURCED FROM INFORMATION LODGED WITH THE AUSTRALIAN STOCK EXCHANGE
Huntley Investment Company Ltd for the year ended June 30, 2007 announced a net profit up 80.3 percent to $15.752 million on revenue up 49.5 percent to $10.318 million. A fully franked 2.5c dividend was announced, ex date August 31, record date September 6. The DRP at no discount is available.
The share purchase plan will be offered in September 2007, entitlements date is September 6. Shares in the plan will be offered at a 2.5 percent discount.
NTA after all tax is 95.11c compared with 87.03c for 2006.
Basic and diluted EPS is 11.90c compared with 7.06c last year.
Huntley Investment Managing director Ian Huntley said in the report the manager and board believe the current market volatility is a correction in an ongoing bull market. The company is almost fully invested in what it believes is a conservative portfolio.
Document NBAXCN0020070821e38k000ji
This is what his investment company have purchased recently:
Portfolio We have made some significant changes to the portfolio in the latest six months, and during July, particularly reducing our largest and most successful portfolio holding, Allco Finance Group(AFG). We also had in excess of $12million additional funds from the rights issue completed in March. We cut our AFG holding from 1,438,068 shares at December 31, to 1,050,000 at June 30 during March/April at prices in excess of $11.00 a share and then further to 639,051 at July 31 at prices in excess of $10.00 a share. This was a portfolio decision dictated by the substantially overweight position that had developed in AFG due to a very strong capital appreciation. Huntley Investment Company Limited 6 Other significant changes in the six months to June 30 were sales of 130,000 AGL Energy, 400,000 Allco Equity Partners, 300,000 Washington H Soul Pattinson and Co, and 100,000 Energy Resources of Australia. Significant purchases were 225,000 Brambles, 200,000 Brickworks, 135,000 National Australia Bank, 65,000 QBE Insurance Group and 1,662,020 Specialty Fashion Group In July we sold 84,000 Tabcorp Holdings and added 54,000 BHP Billiton, 337,980 Specialty Fashion Group, 25,000 Woodside Petroleum and 515,125 Telstra Corporation – Instalment Receipts.
CMR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
