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
$18.24 |
Change
-0.020(0.11%) |
Mkt cap ! $8.876B |
Open | High | Low | Value | Volume |
$18.30 | $18.36 | $18.21 | $731.4K | 40.00K |
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13 | 908 | $18.23 |
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Price($) | Vol. | No. |
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$18.25 | 596 | 11 |
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12 | 1212 | 18.230 |
8 | 875 | 18.220 |
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5 | 490 | 18.200 |
Price($) | Vol. | No. |
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18.250 | 135 | 5 |
18.260 | 277 | 5 |
18.270 | 1034 | 10 |
18.280 | 516 | 5 |
18.290 | 757 | 7 |
Last trade - 10.30am 07/06/2024 (20 minute delay) ? |
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Last
$18.21 |
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Change
-0.020 ( 0.40 %) |
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Last updated 10.49am 07/06/2024 ? |
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