Wesfarmers – Buy

Posted on | by Leon Hinde

Wesfarmers is under Algo Engine buy conditions and is a current holding in our model portfolio.

Wesfarmers shares are finding buying support following the recent sell-off and announcing a fresh takeover bid for Australian Pharmaceutical Industries valued at over $700 million.

Cleanaway – Buy

Posted on | by Leon Hinde

Cleanaway Waste Management is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

Cleanaway financial results for the year ended 30 June 2021

Statutory Net Profit After Tax (NPAT) increased 31.2% from $112.6 million to $147.7 million.

On an Underlying basis compared to the year ended 30 June 2020 (“FY20”) Cleanaway reported:

• NPAT increased 2.1% from $150.0 million to $153.2 million
• EBITDA increased 3.8% from $515.7 million to $535.1 million
• Net revenue increased 4.7% from $2.1 billion to $2.2 billion
• Operating cash flow increased 5.7% from $401.5 million to $424.4 million
• Final dividend increased 11.9% from 2.10 cents per share (cps) to 2.35 cps, taking the total dividend for the year 12.2% higher to 4.60 cps

ASX 200 Resources Fund

Posted on | by Leon Hinde

OZR:ASX is under Algo Engine buy conditions and we anticipate buying support to increase near the $12.50 support range.

A sector sub-index of the S&P/ASX 200 Index, this index provides investors with exposure to the Resources sector of the Australian equity market as classified as members of the GICS® resources sector. Resources are defined as companies classified in the Energy sector (GICS® Tier 1), as well as companies classified in the Metals and Mining Industry (GICS® Tier 3).