Business Services Industry
Bumper returns won't last, investment giant warns.
Australasian Business Intelligence, July, 2006
Byline: Blair Speedy
Jul 26, 2006 (The Australian - ABIX via COMTEX) -- Listed investment group Australian Foundation Investment Company (AFIC) has reported a 23.5% profit increase to $A214.1m for 2005-06. The result benefited from the strong performance of energy and resources stocks, and the takeovers of National Foods, Foodland Associated and Western Mining. The group's investments in Rio Tinto, BHP Billiton, Woodside Petroleum, Westpac Banking and Commonwealth Bank of Australia also contributed strongly to the result. AFIC managing director, Ross Barker, predicted an annual return of between 10% and 12% for 2006-07, after three years of returns in excess of 20%.
Publication Date: 27 July 2006
AUSTRALIAN FOUNDATION INVESTMENT COMPANY...
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