SRG Global (SRG) – Stellar year
January 14, 2025
SRG Global (SRG) provides engineering-led maintenance and industrial services, and engineering and construction services in Australia, New Zealand, and internationally. It operates through Maintenance and Industrial Services; and Engineering and Construction segments. In addition, the company offers Orbix, a mining production management software used to plan, track, report, and analyze the front end of mining production; HAIstack, an asset reliability and integrity software that provides a snapshot condition overview of site assets; drones for non-destructive testing; dam anchoring and monitoring; and AI modeling technology services. The company was previously known as Structural Systems before a name change in 2014. SRG Global was founded in 1961and is headquartered in Subiaco.
SRG Global has retained its strong momentum in FY25 to date. We estimate its work-in-hand (WIH) has risen ~10% (vs Aug-24), with this momentum reflected in SRG’s stellar share price outperformance vs the S&P/ASX300 Index in FY25 to date – +91% versus +9% for the index. In our view, SRG has retained strong momentum and is supported by a high-quality management team, but our forecasts imply more limited near-term valuation upside. We lower our rating to Accumulate from Buy on valuation grounds, but our price target increases to $1.32 from 1.13.
Insights that count
Discover the best opportunities to outperform the market. Our research team dig deep into the market, company and stock data to bring you insights others might overlook.
ResMed (RMD) – Out of the Matrix
ResMed designs and manufactures medical devices and cloud-based software applications for the sleep apnoea and respiratory care markets.
Orora (ORA) – Bottled up
Orora designs and manufactures aluminium cans and glass bottles, principally for beer, wine and spirits, in Australia, New Zealand, the US and Europe. Orora was incorporated in 1949 and is headquartered in Hawthorn in Melbourne.
Virgin Australia Holdings (VGN) – Keeping it simple
Virgin Australia is the nation’s No.2 airline and offers domestic air services under its own brand and overseas travel via its international partners, which include Qatar Airways, Singapore Airlines, United Airlines, Air Canada, Air New Zealand, Hawaiian Airlines, and All Nippon Airways, and owns the Velocity loyalty business.
.webp)