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Portfolio Update (24/08/2019)

AU Portfolio News On Monday Gale Pacific Limited (ASX:GAP) reported largely flat year on year numbers as expected following July's subdued trading update. Volatile resin prices, tariffs, drought and weak economic conditions all influenced the results. I believe management is improving the company through a combined strategy of product rationalisation, geographic expansion and investment in manufacturing efficiency and research and development. It is proving to be a slow process but I think this is partly due to bad luck with external conditions and the inherent difficulty in turning around such a complex business. The stock price implies no uplift in performance is forthcoming and so I will continue holding in the absence of a better idea.

LaserBond Limited (ASX:LBL) and Euroz Limited (ASX:EZL) released its FY 2019 results on Tuesday. I covered the LaserBond result for Ethical Equities. Euroz had already announced unaudited figures in July and so the weak performance compared to …

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