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
$18.64 |
Change
0.320(1.75%) |
Mkt cap ! $9.061B |
Open | High | Low | Value | Volume |
$18.50 | $18.64 | $18.41 | $10.22M | 550.0K |
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2 | 11273 | $18.63 |
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Price($) | Vol. | No. |
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1 | 2860 | 18.540 |
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2 | 3944 | 18.510 |
Price($) | Vol. | No. |
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18.650 | 4075 | 3 |
18.660 | 4372 | 3 |
18.680 | 8332 | 3 |
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18.780 | 2500 | 1 |
Last trade - 16.10pm 03/06/2024 (20 minute delay) ? |
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Last
$18.58 |
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Change
0.320 ( 1.30 %) |
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Last updated 15.59pm 03/06/2024 ? |
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