A rare bit of good news for investors about one stock at least – The Perth based shipbuilder and defence contractor, Austal says it has been told by the US Navy it is performing “mission essential functions” and been urged to keep making ships.
Simon Conn and Marc Whittaker from the IML Small Caps team discuss three of their favourite small to mid-cap stocks and the attributes these companies possess that make them believe they will do well for investors in the next 3 to 5 years.
When GWA Group sold its Door & Access Systems business for $107 million it said it would invest some of the capital in expanding its Bathrooms & Kitchens business and it has done that with an offer to acquire Auckland based and New Zealand Stock Exchange listed Methven Ltd.
The company has announced the sale of its door & access systems business for $107m. Morgans believes completion of the sale in early FY19 should leave plenty of capacity to pursue organic growth opportunities.
The company has outlined its growth strategy to leverage its core brands in bathrooms & kitchens as well as its market leading position. Areas of growth have been highlighted amid expectations of the potential to increase market share in the renovations & replacements market.