In more normal times - and nothing is normal at the moment - low oil prices benefit the global economy and stocks such as manufacturers and transport companies. Tim Boreham outlines those Australian companies which stand to benefit from significantly lower energy prices.
First-half results have cleared any doubts about the company's operating leverage, Citi acknowledges. Strong growth was driven by higher volumes, improved product mix, and better manufacturing. Market conditions are improving and price/cost headwinds fading.
The company has made a -$155m write-down to Burrup. Deutsche Bank considers the non-cash adjustments of -$191m to be a minor negative as these highlight the ongoing earnings risk associated with the commissioning of the plant.