maybe there could be a profit downgrade next maybe there could be a profit downgrade next?
Date: 4/7/2006
Author: Henry Byrne
Source: The Australian Financial Review --- Page: 19
Shares in Australian-listed construction materials group, Rinker, have lost 25 per cent of their value over the last two months. On 26 April 2006 the shares peaked at $A22.22, but they closed at $A16.59 on 3 July. The majority of Rinker's earnings come from its US business, where the housing market has weakened. This has had a direct effect on its share price as well as shares in rivals, James Hardie Industries and Florida Rock. Some analysts have welcomed the selldown on the basis that Rinker was over-valued. For the most part, investors are positive about the company's prospects, expecting it to soon announce at least one acquisition
thx
MS
RIN
rinker group limited
