Equity Research Coverage Reports

US Masters Residential Property - (ASX: URF) - Healthy Cash Position - Low Gearing - Valuation Revision
Wednesday, March 19, 2014
The Fund has posted a maiden profit for 2013 of $53.5M. The profit was significantly boosted by the weakening AUD. Profit prior to foreign currency adjustments was $8.2M, up from the 2012 loss of $1.5M. Investment property income was up 144.9%
Download Report
Jumbo Interactive Ltd - ASX: JIN - Online reseller of lottery tickets
Monday, March 17, 2014
JIN reported an interim net profit of $1.8M, down 28% on the prior corresponding period. After adjusting for international expansion costs in both periods, the underlying 1H’14 net profit of $2.9M was circa 8.5% below 1H’13.
Download Report
Suda Limited - (ASX: SUD) - Delivering Drugs through Oral Sprays - Transaction focus in 2014
Tuesday, February 18, 2014
SUD is a drug delivery company focusing on reformulating existing drugs into an oral spray for delivery through the oral mucosa. The company currently has a number of drugs under development including an oral spray for the treatment of malaria in children and oral sprays for migraine, erectile dysfunction, chemotherapy-induced nausea, pulminary arterial hypertension and pre-procedural anxiety
Download Report
Codan Limited (ASX: CDA) - Offer of Niche Group of Technology Products -
Monday, February 3, 2014
FY15 proved to be a stabilising year after the poor FY14 results. Revenue was up 8.8% with net profit up 34.9%. The increased profit was largely a result of improved gross profit margin, which increased to 54.5% from 48.7% in FY14. The gross profit margin improved due to the sale of higher margin products.
Download Report
Highlands Pacific Ltd (ASX: HIG) - PNG - Copper/ Gold - New Partner for Frieda River Project
Monday, January 20, 2014
During November 2013, HIG announced the sale of Xstrata’s share of the Frieda River Project to PanAust Limited (PanAust). This update focuses on the new partner agreement and provides a revised valuation based on the revised economics of the project
Download Report