Let's find out from the 6th East Coles Australian Corporate Performance Report.
According to a release, the 2012 Corporate Performance Report was the 6th East Coles Australian Corporate Performance Report. The Report analyses corporate performance utilising feedback from Australian fund managers and brokers.
Here's more from East Coles:
An average number of responses per stock of around fifteen (15) was achieved. There were ninety-four (94) individual respondents in all, comprising forty-nine (49) from the sell-side and forty-five (45) from the buy-side. These respondents came from twenty (20) brokerage houses and twenty (20) funds management firms. Voting closed after a two-month voting period, running primarily through October and November 2012.
This year CSL again took out the Best Company award, with Coca-Cola 2nd and Ramsay Health Care 3rd. Regis Resources and Monadelphous Group debuted at 4th and 5th respectively. CSL also took out Effectiveness of CEO, with ALS and Monadelphous 2nd and 3rd respectively. Coca-Cola and Ramsay Health Care 4th and 5th respectively.
Coca-Cola topped Effectiveness of Board, with CSL 2nd and Seek 3rd. Ramsay Health Care and Cochlear were 4th and 5th respectively. Westpac took out Effectiveness of CFO, with CBA 2nd and Ramsay Health Care 3rd. CSL and Monadelphous were 4th and 5th respectively.
The big banks dominated Quality of Investor Relations, with Westpac taking out 1st place. CBA and ANZ were 2nd and 3rd respectively. CSL and Coca-Cola were 4th and 5th respectively. CSL, Ramsay Health Care and Amcor were 1st, 2nd and 3rd respectively in Credibility, with ALS 4th and Coca-Cola 5th. The Top 5 for Growth Prospects were dominated by Health Care stocks, with CSL 1st, Ramsay 3rd and ResMed 4th. Regis Resources was 2nd and Seek was 5th.
Some of the strengths & weaknesses of the banks in the top ‘ASX Top 100’ stocks noted by fund managers and brokers were as follows:
• Australia and New Zealand Banking Group Limited (ANZ)
“Dominant player in Australian and NZ banking market”
“Strength: Mike Smith best bank CEO. Weakness: Asian strategy high risk”
• Commonwealth Bank of Australia (CBA)
”Well diversified banking operations in both Australia and NZ plus growth story in Indonesian banking”
”Strength: retail bank dominance. Weakness: insto business weak”
• Westpac Banking Corporation (WBC)
“Strength: Institutional bank and BTFG robust. Weakness: CEO mixed, SGB a bad legacy.”
“Well diversified in the Australian and NZ banking markets; has good cost efficiency metrics”
Best Bank for 2012 was CBA, followed by Westpac then ANZ. CBA took out the Best CEO, followed by ANZ and then Westpac. Westpac was voted Best CFO, whilst CBA took out Best Credibility. ANZ took out the Growth Prospects, whilst Westpac was best for Investment Desirability. Westpac also took out Shareholder Value Focus, Capital Management, Investor Relations and Environmental, Social and Corporate Governance.
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