Deloitte South Australian Stock Exchange Index
March 2012, No.23
Welcome to the 23rd edition of the Deloitte SA Index.
Compiled from publicly available information provided by the Australian Securities Exchange (ASX), the Deloitte SA Index is based on the market capitalisation weighted share price performance of South Australian listed companies. The impact of dividends and capital returns is excluded from the Index, which currently comprises 72 companies.
The Index increased by 6.3% in the 2012 March quarter, underperforming the S&P/ASX 200, which increased 6.9% over the same period.
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A number of companies enjoyed market capitalisation weighted share price increases during the 2012 March quarter, particularly Santos Limited (Santos), Boart Longyear Limited (Boart Longyear) and Beach Energy Limited (Beach Energy).
Santos was the largest positive contributor (8.2%) to the Deloitte SA Index over the quarter continuing its rise with the oil price.
Boart Longyear experienced share price increases in the quarter after recording an 89% increase in earnings per share. Boart Longyear contributed 3.6% to the SA Index.
Beach Energy was also a significant contributor continuing to be driven by the takeover of Adelaide Energy and a strong net profit result. Beach Energy contributed 1.3% to the growth in the SA Index.
On an absolute share price performance basis, the companies that recorded the largest percentage share price increases for the three months to 31 March 2012 were Core Exploration Limited, which increased by 252.9%, Archer Exploration Limited (195.7%) and Sundance Energy Australia Limited (90.4%).
The largest negative contributions on a market capitalisation basis to the Deloitte SA Index for the 2012 March quarter came from Ramelius Resources Limited and Bionomics Limited.
The companies that recorded the largest percentage share price decreases for the 2012 March quarter were Mnet Group Limited (-36.0%), Earth Heat Resources Limited (-35.9%), and ERO Mining Limited (-35.7%).
Initial Public Offerings, Additions and Removals
Adelaide Energy Limited was taken over by Beach Energy Limited and Geothermal Resources Limited was taken over by Havilah Resources NL in the previous quarter. Both companies were removed from the SA Index on 31 December 2011.
Two companies entered administration in the quarter: Coonawarra Property Trust on 15 March 2012 and Prince Hill Wines on 26 March 2012. Both companies were removed from the SA Index as at 31 December 2011.
Several companies were removed from the SA Index from the last quarter due to a change in their registered office address. These companies included Novarise Renewable Resources International Limited and Reclaim Industries Limited.
Meridien Resources Limited was added to the list as it changed its registered address to South Australia on 14 March 2012.
Redgum Resources Limited floated on the Australian Securities Exchange in the March 2012 quarter and was added to the SA Index.