In this week’s likes and dislikes is an insurance company, a building company and a popular energy company.
Michael Wayne of Medallion Financial likes Steadfast Group (SDF). “It is Australia and New Zealand’s largest general insurance broker network, consisting of over 360 brokerages with over 1300 offices in Australia, New Zealand and Singapore,” says Wayne.
“Commissions revenue offers the real upside for this business albeit the most susceptible to competitive pressures. Increasing commission’s leads to greater revenue and expanding margins given costs tend to be fixed.