Investor Insights

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.

As you know, four-wheel drive (4WD) aftermarket parts and accessories manufacturer, distributor and retailer ARB Corporation (ASX:ARB) is one of the highest A1-quality companies listed on the Australian Securities Exchange (ASX).

Ten years ago, radiology software company Pro Medicus (ASX:PME) was trading at just 86 cents. Yesterday, with a share price of $149, investors have seen their money grow over 17,000 per cent in a decade.

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.

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…

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.

Furniture retailer Nick Scali (ASX:NCK) reported its full-year results, and on most measures, the results were in line with consensus estimates. However, there were some surprises, in which an understanding of the nuances led to a reasonably optimistic conclusion for this A1 quality company.   Total revenue of $468 million (down 7.

  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.

Leading toll road operator, Transurban (ASX:TCL), has released robust financial results, reflecting steady growth and promising prospects. The company’s operational performance, strategic investments, and upcoming projects, such as the Westgate Tunnel and 495 North, position it for further expansion.

In the June 2024 quarter, the Polen Capital Global Growth Fund purchased new positions in Zoetis (ASX:ZTS) and Shopify (NYSE:SHOP) and eliminated our position in Autodesk (NASDAQ:ADSK). We also trimmed our positions in Microsoft (NASDAQ:MSFT), ServiceNow (NYSE:NOW), Amazon (NASDAQ:AMZN), and LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) and added to our existing position in MSCI (NYSE:MSCI).

ResMed (ASX:RMD) reported its June quarter and full year results after the U. S. market closed on Friday morning. The company met consensus expectations for both revenue and earnings.     ResMed’s revenue rose nine per cent to US$1. 2 billion ($1. 85 billion) in the last quarter of fiscal 2024, taking quarterly dividends to US$0.

My prediction, for what it is worth, remains that small-caps should outperform their large-cap brethren, and conditions appear supportive for the share prices of innovative companies with pricing power and growth until the beginning of 2026.