HDR hardman resources limited

bull year for hdr

  1. 3,559 Posts.
    Bull year for trade like few before it
    By NHADA GOODFELLOW
    01jul04
    AUSTRALIA'S share market grew about 17 per cent in the 2003-04 financial year, helped by strong company profits, relief from a rampaging dollar and upbeat commodity prices.

    With the new financial year starting today, analysts are forecasting further gains for investors.

    Market barometer the all ordinaries index – which added 12.8 points yesterday to 3530.3 – climbed 17.7 per cent in 2003-04.

    The ASX 200, the key index for fund managers, gained 16.7 per cent.

    "It's been an exceptionally good year," Ausbil Dexia director of equities Paul Xiradis said.

    "The main reason for that is underlying earnings in Australia have been very, very strong: we've seen earnings growth by Australian listed companies grow by 12 to 13 per cent this year.

    "The other big driver over recent months has been the reversal of the strength of the Australian dollar, which means the earnings profile of a lot of companies for this coming year should be quite strong."

    Mr Xiradis said strong commodity prices had helped stocks such as Caltex, Woodside and BHP Billiton.

    The best performer for the year among the ASX 200 stocks was Hardman Resources, a partner in the recently approved Chinguetti offshore oil field in Mauritania. Its shares added 275 per cent in value
 
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