Australian Pharmaceutical Industries Ltd
API Details
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Expects to expand beyond 450 stores by FY 17: Australian Pharmaceutical Industries Ltd (ASX: API) stock fell 2.8% on 26 September 2016. API is expected to expand its footprint beyond 450 stores in FY17. API further expects 15% growth in the underlying NPAT of $49.5 m for FY16 as per market consensus. The comparable store growth rate was continuing at 2.6% and was on track to meet working capital target with reported net debt of $70m at 31 August 2016.
· Recommendation:We give a “Speculative Buy” recommendation on the stock at the current price of $1.90
Indicative shareholder returns (Source: Company Reports)
Woolworths Limited
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WOW Details
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Woolworths Notes II Redemption: Woolworths Limited (ASX: WOW) stock fell 2.14% on 26 September 2016. The group intends to redeem, in whole, all of the Woolworths Notes II on 24 November 2016. WOW Notes II are expected to cease trading on the Australian Securities Exchange on Tuesday, 15 November 2016. The WOW Notes II holders who are on the register at 7.00pm (Sydney time) on 16 November 2016, are entitled to be paid redemption proceeds of $100 face value per Woolworths Note II, plus the final interest payment of $1.25523 per Woolworths Note II (which is the accumulated interest up to and including 23 November 2016). On the other hand, WOW has implemented the new operating model to further increase the accountability into the business. WOW is seeing the clear signs of progress in the Australian Supermarkets. There is a record voice of the customer scores, improvement in the team engagement scores and there is a continued transaction growth, with item growth now positive. Meanwhile, WOW stock rose 8.9% in three months as on 23 September,2016.
Recommendation:We maintain a “Buy” recommendation on the stock at the current price of $22.85
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