August 30, 2024

Reporting season quick takes 

By Roger Montgomery

Amid a hectic reporting week, we offer the following quick takes, highlighting the results of key, high-quality companies.   Cochlear (ASX:COH)  It was Cochlear’s guidance that caught some investors by surprise, particularly those that had set high expectations after 18 months of robust growth.
August 22, 2024

Breville’s brews another solid result 

By Roger Montgomery

Back in February, Breville Group’s (ASX:BRG) HY24 results divided the investment community. Despite improved gross margins and efficient cost control measures, revenue fell slightly short of consensus expectations, prompting some analysts to suggest the company should have engaged in more promotional (read: discounting) activity to drive sales. Of course, strategically, this can weaken a brand and its long-term value.
August 19, 2024

CSL posts strong sales and profit growth 

By Roger Montgomery

Australian Securities Exchange (ASX) healthcare leader CSL (ASX:CSL) posted a robust 11 per cent rise in sales from US$13. 3 billion to US$14. 8 billion, with CSL’s Behring segment, that markets products like immunoglobulin derived from blood plasma, contributing over 70 per cent of total sales. The company also reported a 21.
August 16, 2024

Can the Commonwealth Bank of Australia’s share price rally continue into FY25? 

By Roger Montgomery

Our domestic large-cap funds have maintained an underweight position in the banks, and even though the Commonwealth Bank of Australia (ASX:CBA) was, for a time, our largest position, being underweight in the sector has cost relative performance thanks to the Commonwealth Bank of Australia’s share price rallying as much as 23 per cent year-to-date and 35 per cent last financial…
August 13, 2024

QBE Insurance: A complex but promising 1H24 performance 

By Roger Montgomery

QBE Insurance’s (ASX:QBE) first-half 2024 (1H24) results offer a nuanced picture.   Depending on your interpretation of the performance of the American business, QBE Insurance is either off to a challenging start to the year, or long-term prospects remain optimistic, largely driven by ongoing restructuring efforts, particularly within the company’s North American segment.
August 9, 2024

Montgomery Small Companies Fund 2024 update

By David Buckland

  In this week’s video insight, I discuss the Montgomery Small Companies Fund (the Fund), managed by Gary Rollo and Dominic Rose. The Fund achieved a remarkable return of 21. 4 per cent in fiscal 2024, outperforming its index by 12 per cent on an after-expense basis.

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