Eco Investor March 2015

Core Securities

Great Profit Season Shows Companies' Trends

Profit season is great for sorting the sheep from the goats and this season's interim results clearly group most of the core cleantech stocks into three groups: strong winners, those marking time, and those that have issues and went backwards.

The clear winners were Sims Metal Management, Qube Holdings, Tassal Group, TFS Corporation, Beacon Lighting, Energy Developments, Reece Australia, and August Investments. These enjoyed strong growth in revenue, earnings, share price and or dividends, and several had record results and share prices.

Companies that had mixed results or marked time were Ingenia Communities Group, Tox Free Solutions, Mighty River Power and Meridian Energy.

This season's losers, those that made losses or in some way disappointed investors, were: Transpacific, DUET Group, GWA Group, Gale Pacific, Pacific Energy, Energy Action and Aspen Parks Property Fund.

The interim dividend payments also grew. 13 stocks increased their payments including three that reinstated interim dividends. Two maintained their dividend. Three reduced their dividend, and two did not pay a dividend. Nine had full franking and others had partial franking and NZ imputation credits.

The big winners were income investors in core securities that increased their dividends and enjoyed strong share price gains, showing that the best of Australian cleantech is suitable for conservative and income investors. Following is Eco Investor's wrap-up of how the core securities performed in the December half year.

Overall, te big winners were income investors in core securities that increased their dividends and enjoyed strong share price gains, showing that the best of Australian cleantech is suitable for conservative and income investors.

Following is Eco Investor's wrap-up of how the core securities performed in the December 2014 half year.

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