And getting cheaper, by the looks of things. Here's why:
http://www.smh.com.au/business/challenger-adds-wind-to-portfolio-20110628-1gp6m.html
PAINT BASE RISES
Dulux's shares blipped down yesterday after the company that owns its paint brand pretty much everywhere else on the globe, AkzoNobel, announced a profit downgrade largely due to raw material costs being up 20 per cent.
Deutsche Bank analyst Mark Wilson reckoned that every 5 per cent lift in the price of titanium dioxide pigment, the stuff that makes white paint bases, cuts earnings per share by 6 per cent. As Wilson noted, that is only if Dulux cannot squeeze a higher shelf price for its product - a tough ask in the competitive hardware market.
The paint group's chief, Patrick Houlihan, might want to have a chat to his opposite number at Tatts, Dick McIlwain, who has managed to slip through some price increases of up to 12 per cent for both OzLotto and Powerball. Marvellous what you can do in a captive market."
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I had wondered why we rose from an all-time intraday high of about $3, to our newest price today of $2.68. We floated @ $2.50 and had a terrific price performance. Now that some steam has come off the price, it's looking like a compelling buy soon. These DLX shares were free anyway, and I've been looking for a chance to top up.
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