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More winners than losers in strong 2013/14

by Nick Bendel10 minute read

Publicly listed industry firms doubled the performance of the stock market in 2013/2014 – although the share price of two well-known groups actually went backwards.

The All Ordinaries increased by 14.8 per cent during the last financial year, while 17 industry stocks reported average growth of 30.7 per cent.

Those figures exclude Genworth, which was only listed on May 20. Despite the late start, the LMI insurance giant ended the year 23.8 per cent higher.

The star performer in 2013/2014 was Rubik Financial: its stock price grew 182.4 per cent in a year in which it acquired Stargate’s technology division for $35 million.


Mortgage Choice jumped 83.2 per cent after forecasting that it would end the financial year with double-digit profit growth and recruit another 100 brokers during the 2014 calendar year.

Three of the big four banks outperformed the All Ordinaries: Westpac with 21.1 per cent, and Commonwealth Bank and ANZ each with 19.8 per cent. NAB was slightly under with 13.2 per cent.

Yellow Brick Road grew by 6.6 per cent after a busy year in which it agreed a deal to buy Vow Financial and announced plans for two other acquisitions but continued operating at a loss.

Homeloans suffered a 20.2 per cent decline during a year that included the appointment of well-known industry identity Ray Hair.

Firstfolio’s share price lost 8.3 per cent during 2013/2014, although this coming financial year may be better after the company solidified its future last week with a $29 million debt deal.

There was better news for Bank of Queensland, which jumped 41.8 per cent, while Macquarie Group increased by 39 per cent and Bendigo & Adelaide Bank added 23.5 per cent.

The parent of aggregator Australian Loan Company, Centrepoint Alliance, grew by 49 per cent, AMP Bank’s parent, AMP, grew by 25 per cent, while Suncorp Bank’s parent, Suncorp Group, grew by 15.5 per cent.

Tasmanian lender MyState added 6.7 per cent, while building society Wide Bay Australia added 4.4 per cent.

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