On May 28, 2018, Bounty Holdings New Zealand Limited initiated the takeover offer. This offer was for Tegel Group Holdings. However, on September 24, 2018, Tegel Holdings issued a press release which stated that the approval has been given from Overseas Investment Office with regards to the stated acquisition under Overseas Investment Act. Primarily, an offer of $ 1.23 per share was made by Bounty to acquire Tegel and the same has now been made unconditional.
As a result of this approval, the stock price of Tegel Holdings witnessed an upward momentum. On September 24, 2018, the stock recorded the gain of 4.76% and closed at A$1.10. As of September 24, 2018, the company had market capitalization of $373.7 million.
A Look at Tegel Group’s performance in FY 2018
Tegel Group Holdings ended FY 2018 with total revenues amounting to $615.4 million which implies the YoY growth of 2%. Domestically, the company’s revenues were helped by the positive momentum in the poultry demand. The share of plate gains coupled with the strong momentum in the population are the measures which are boosting the consumption of poultry. Domestically, the company’s top line got positively impacted by the easy meal solutions as well as because of the innovation related to the new products.
Talking about the company’s export division, its position with regards to the established markets got strengthened. In FY 2018, the company’s distribution costs witnessed a rise of 12.6%. During the same period, the company’s gross profit margin fell to 22.3% from 23.6% in the prior year.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.