Deloitte SA Index underperforms ASX 200 in March 2012 quarterDOWNLOAD
10 May 2012: The Deloitte South Australian (SA) ASX Index increased by 6.3% during the three months to 31 March 2012. This compared to an increase of 20.0% in the previous quarter.
Deloitte Corporate Finance Partner Adrian O’Dea said: “The March quarter for the Deloitte Index’s 72 South
Australian listed companies was slightly weaker compared to the S&P/ASX 200 Index, which increased by 6.9% in the same period.”
“Over the 12 months to 31 March, the Deloitte SA Index increased 6.6% while the ASX 200 has decreased 10.4%.”
Major SA ASX company movements
Santos was the largest positive contributor to the Deloitte SA Index in the March 2012 quarter, with its share price increasing by 8.2% as oil prices increased.
Boart Longyear experienced share price increases in the quarter after recording an 89% increase in earnings per share. The company contributed 3.6% to the Index.
Beach Energy was also a significant contributor, with the company’s share price performance continuing to be driven by its takeover of Adelaide Energy and a strong net profit result. Beach Energy contributed 1.3% to the Index.
On an absolute share price performance basis, the companies that recorded the largest percentage share price increases in the March 2012 quarter were:
The companies that recorded the largest percentage share price decreases for the quarter were:
Initial Public Offerings, Index Additions and Removals
Two companies were added to the Deloitte SA Index in the quarter:
• Meridien Resources, which changed its registered address to South Australia
• Redgum Resources, which floated on the ASX in the quarter.
As a result of takeovers in the previous quarter, the following companies were removed from the Index on 31 December 2011:
• Adelaide Energy, which was taken over by Beach Energy
• Geothermal Resources, which was taken over by Havilah Resources.
Two companies entered administration in the quarter and so were removed from the Index:
• Coonawarra Property Trust on 15 March 2012
• Prince Hill Wines on 26 March 2012.
Two companies were also removed from the Index from the last quarter due to changing their registered office address:
• Novarise Renewable Resources International
• Reclaim Industries Limited.
The full Deloitte SA Index and a full company-by-company breakdown can be found in the attached media release.