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The Silver Mines Ltd (ASX: SVL) share price is lifting in early trade today after the silver miner announced it submitted a mining lease application for its Bowdens Silver Project. The company says the Bowdens Project is the largest undeveloped silver deposit in Australia and one of the largest on Earth.

At the time of writing, the Silver Mines share price is up 0.89, trading at 22.7 cents.

Let’s look closer at this morning’s news from Silver Mines.

Mining lease application

Today’s announcement is the latest from the company regarding the Bowdens Project, as it looks to be getting closer to breaking ground.

Silver Mines submitted what so far is a successful environmental impact statement in May 2020 and is finalising its response to submissions to the NSW Department of Planning, Industry and Environment.

More about Bowdens Silver Project

The Bowdens Silver Project, located in central New South Wales, is owned completely by Silver Mines.

The company states Bowdens has a mine life of 16.5 years. Over that time, it is expected to produce approximately 66 million ounces of silver, 130,000 tonnes of zinc and 95,000 tonnes of lead.

The proposed development of the Bowdens Silver Project includes an open-cut mine and a new processing plant with a conventional milling circuit and differential flotation.

Smelting of the two concentrates Silver Mines intends to produce at Bowden will be conducted off-site.

The most recent assay results from the project are impressive. They include:

• 34.6 metres at 471g/t silver equivalent (413g/t silver, 1.14% lead, 0.39% zinc) from 96 metres which includes:
• 7 metres at 1090g/t silver equivalent (966g/t silver, 2.86% lead, 0.56% zinc) from 97 metres; and
• 6.1 metres at 874g/t silver equivalent (789g/t silver, 1.67% lead, 0.59% zinc) from 122 metres.

Silver Mines share price snapshot

The Silver Mines share price is having a poor year so far. Despite a few days of decent share price increases, the general trend has been downward. Currently, the company’s shares are down 13.46% year to date. Although, over the last 12 months, its share price has increased by 221.43%.

Silver Mines has a market capitalisation of around $266 million, with approximately 1.1 billion shares outstanding.

More reading

• These ASX silver shares fell today, along with the price of silver

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Premier Investments Limited (ASX: PMV) was one of many ASX retail shares that bounced back strongly from COVID-19. The company announced a record half-year result today, highlighting the resilience of its brick and mortar business and significant growth in online sales.

The Premier Investments share price is currently ~8% higher than its pre-COVID high of $21.30. However, it had a relatively flat year-to-date performance, including a 36 cent dividend paid out on 28 January. 

At the time of writing, the Premier Investments share price is trading at $23.67, up 1.94%. 

Premier Investments share price up as profits soar 

Premier Investments delivered global sales of $784.6 million, up 7.2% on 1H20. This growth was driven by record Peter Alexander sales of $207.7 million, up 43.4%. Its online sales are also gathering momentum, up 61.3% to $156.7 million, representing 20% of global sales. Strong sales were further supported by an uplift in margins, with gross margins up 286 basis points to 65.4%. 

Strong sales backed by improved margins translated to record earnings before interest tax (EBIT) of $237.8 million. This was up 88.5% and a net profit after tax of $188.2 million, up 88.9%. 

Key growth drivers in the first half 

Premier Investments made a critical decision in mid-2020 to invest in increased inventory. In particular, for the key summer period said executive director and Premier Retail CEO, Mr. Mark McInnes. This decision ensured that the business was in-stock to meet pent-up consumer demand. Consequently, this resulted in significantly higher sales and gross margin in 1H21. The business has leveraged the success of increasing inventory into 2H21, maintaining the sale and margin expansion momentum. 

Peter Alexander has emerged as a major revenue contributor to the business. The strategic decision to be in stock in the first half has enabled the brand to deliver increased full-priced sales with much less promotional activity. This has allowed the company to deliver higher margins in 1H21. Premier Investments notes that sales and margin growth momentum has continued into the first seven weeks of 2H21. Additionally, total sales are up 46% on the prior corresponding period. 

Premier Investments’ five iconic apparel brands (Just Jeans, Jay Jays, Jacquie, Portmans, and Dotti) delivered solid like-for-like sales growth of 18.5% in a difficult macro trading environment. The company believes that each of these brands have a strong and distinctive competitive market position and are well-positioned to deliver future growth.

Strong balance sheet with dividends

Premier Investments’ cash on hand has soared to $497.2 million at the end of 1H21, up from $297.5 million in 1H20. Its cash position is significant in proportion to its $3,746 million market capitalisation. The company has also announced an interim dividend of 34 cents per share or an interim yield of approximately ~1.46%. 

More reading

• 2 ASX 200 shares to buy for income
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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Alcidion Group Ltd (ASX: ALC) share price has continued its positive run and is pushing higher again on Wednesday.

In morning trade, the healthcare technology company’s shares are up 5% to 29.5 cents.

Why is the Alcidion share price surging higher?

Investors have been buying Alcidion shares this morning after it announced a new contract win.

According to the release, the company has signed a contract with East Lancashire Hospitals NHS Trust for Patientrack and Smartpage. This contract is valued at $2.2 million over five years.

The release explains that the East Lancashire Trust is a large, integrated health care organisation of 8,000 staff, providing acute, secondary and community healthcare for the 530,000 residents of East Lancashire and Blackburn with Darwen.

Patientrack will be used by the Trust’s nurses as they carry out crucial observations, integrating directly with devices used at the bedside to capture patients’ vital signs. This will allow them to automatically calculate a patient’s early warning score.

Whereas Smartpage, which is Alcidion’s smartphone and web-based secure messaging system, will be deployed in parallel and integrated with Patientrack to push alerts to clinical teams for when they need to take action for patient care.

Management commentary

Alcidion’s Managing Director, Kate Quirke, said: “We are delighted to partner with East Lancashire Hospitals NHS Trust to support the delivery of better and safer patient care. Both Patientrack and Smartpage continue to open the door to new customer relationships, supporting the expansion of our presence in the UK.”

East Lancashire Hospitals NHS Trust’s Chief Information Officer, Mark Johnson, spoke very positively about the technology.

He said: “We are driving forward our ambitions to enhance patient care and improve working life for staff through digital technology, both locally and in collaboration with our ICS colleagues across the region. Patientrack, which has delivered impressive results for patient safety in dozens of other NHS hospitals, accompanied by Smartpage, will be an important part of that digital roadmap and the deployment of our local EPR.”

Following today’s gain, the Alcidion share price is now up over 55% since the start of the year.

More reading

• Why these ASX shares are breaking out into record highs
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• Why the Alcidion (ASX:ALC) share price is jumping 8% to a 52-week high today
• Alcidion (ASX:ALC) share price hits 52-week high on record sales

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Xero Limited (ASX: XRO) share price is edging higher on Wednesday morning.

At the time of writing, the cloud-based business and accounting platform provider’s shares are up 1% to $122.40.

This latest gain means the Xero share price is now up an impressive 25% over the last six months.

Why is the Xero share price edging higher today?

Investors have been buying Xero shares this morning after it announced its second acquisition of the year.

According to the release, the company has acquired e-invoicing infrastructure business Tickstar for up to SEK 150 million (~A$22.9 million).

This comprises an upfront payment of SEK 60 million (A$9.15 million) and earnout payments of up to SEK 90 million (A$13.7 million). The latter will be based on product development and performance milestones. Both will be settled 50% in cash and 50% in Xero shares.

Completion of the transaction is expected in the first quarter of FY 2022 (before 30 June 2021) and remains subject to satisfaction of closing conditions.

The transaction, integration, and operating costs are anticipated to have minimal impact on Xero’s FY 2022 operating earnings.

What is Tickstar?

Tickstar is a Sweden-based e-invoicing infrastructure business that allows organisations such as Xero and its customers to connect to a global e-invoicing network. This enables faster and more secure transactions.

Management notes that the acquisition aligns with Xero’s strategic priority to drive the adoption of cloud accounting around the world.

Xero’s Chief Product Officer, Anna Curzon, commented: “The acquisition of Tickstar is an important step in our strategy to help small businesses digitise more of their workflows and get paid faster using cloud-based technologies. As more governments around the world adopt e-invoicing, Tickstar’s technology will help our customers comply with existing and future legislation and realise the many benefits that e-invoicing brings.”

More reading

• 8 ASX 200 shares rated as ‘outperform’ by brokers
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Santos Ltd (ASX: STO) share price is under pressure on Wednesday despite the release of a positive announcement.

At the time of writing, the energy producer’s shares are down 2% to $7.02.

What did Santos announce?

This morning Santos provided the market with an update on the Barossa joint venture. This is the company’s offshore gas and light condensate project in the Northern Territory which it owns along with ConocoPhillips and SK E&S Australia. The US$3.6 billion project aims to backfill Darwin LNG.

According to the release, the company has now awarded the project’s major contract for the construction, connection, and operation of the Floating Production, Storage and Offloading vessel (FPSO).

The FPSO services contract has been awarded to international vessel builder and operator BW Offshore (BWO).

Positively, management revealed that through extensive and intensive contract review processes, Santos has achieved a significant financial saving as well as significant energy efficiency improvements. This contract is expected to achieve an overall reduction of approximately US$1 billion in capital expenditure.

Santos’s Managing Director and Chief Executive Officer, Kevin Gallagher, commented: “The decision to proceed with an FPSO services contract maintains a low ongoing operating cost while engineering enhancements have significantly reduced the project’s carbon footprint. This reduction in capital expenditure makes Barossa one of the lowest cost of supply projects in the world for LNG and will provide new supply into a tightening LNG market.”

“At the end of last year, we announced that transport and processing agreements had been finalised for Barossa gas to be tolled through Darwin LNG and we signed a long-term LNG sales agreement with Diamond Gas International, a wholly-owned subsidiary of Japan’s Mitsubishi Corporation.”

Though, it is worth noting that despite the above, a final investment decision on the Barossa project has not been made. However, it is anticipated in the coming weeks, with the first gas targeted for the first half of 2025 if it goes ahead.

Why is the Santos share price tumbling lower?

While this announcement is good news for the company, it hasn’t been enough to stop the Santos share price from tumbling lower today.

This decline has been driven by a significant pullback in oil prices overnight amid demand concerns following lockdowns in Europe.

More reading

• 5 things to watch on the ASX 200 on Wednesday
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• Top broker issues buy alert on Santos (ASX:STO) and these ASX energy shares
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Netflix Inc (NASDAQ: NFLX) started cracking down on password sharing this month, after years of passively allowing the practice. While it’s always been against Netflix’s terms to share login credentials with people outside your household, Netflix has been hesitant to enforce that rule. 

But now the problem may be too big for Netflix to ignore. Analysts estimate the company’s losing billions in revenue due to password sharing.

It’s almost weird if you don’t share passwords

One-third of all Netflix users say they share their passwords with at least one other person, according to research firm Magid. That number is likely increasing as more streaming services enter the market. The options to “trade” subscriptions — you pay for this, I’ll pay for that — with friends and family are growing.

If each of those one-third of subscribers shared their passwords with just one other person, that represents nearly 68 million freeloaders. If Netflix could get them all to sign up, that would equate to almost $9 billion in revenue based on Netflix’s average revenue per subscriber of $11.02 per month.

Of course, not every password sharer is going to sign up if Netflix manages to cut them off. Citi analyst Jason Bazinet still thinks the opportunity is greater than $6 billion for Netflix. Bloomberg Intelligence is less optimistic, but still sees a substantial benefit. The research firm thinks a crackdown will increase revenue by 10% ($2.5 billion) based on a password sharing rate of 20% to 30% in the United States.

Bank of America analyst Nat Schindler didn’t provide an estimate on revenue, but suggested the crackdown could act as a tailwind for subscriber net additions.

What could go wrong?

There’s a reason Netflix has been hesitant to cut down on password sharing. There’s no clear line to determine legitimate password sharing versus illegitimate sharers. “You have to learn to live with [it] because there’s so much legitimate password sharing,” CEO Reed Hastings said in 2016. “So there’s no bright line, and we’re doing fine as is.”

Being too heavy-handed has the potential to upset and frustrate customers. That’s something to always avoid, but with so many streaming options now available, it’s more important than ever.

What’s more, customers sharing passwords are less likely to churn or hop from one streaming service to the next. Cancelling a subscription that you share with someone requires input from multiple parties. It’s why wireless service companies love family plans and offer substantial discounts for them; they have much lower churn than single lines.

Netflix could see increased churn if password sharing is no longer an option. Some analysts see increased churn as a big risk factor in 2021.

There are billions of dollars in annual revenue on the line, though. If Netflix does this well, it could be a substantial boost to its top line. In its tests, Netflix is asking for users to verify their access to the account they’re using, and if they don’t, it offers a 30-day free trial. Netflix stopped offering free trials to the general public last year.

The best place for Netflix to test the crackdown is in the US and Canada region. Subscriber growth in the region is slowing, and it’s showing signs of having fully saturated the market. It also has a higher average revenue per subscriber. As such, curbing password sharing is likely to have the biggest effect in that region.

In markets where the media company’s still growing quickly, Netflix ought to be more tolerant of password sharing. It exposes more people to Netflix and all it has to offer, and when users are in a position where it makes sense for them to subscribe on their own, they’re more likely to. Former HBO CEO Richard Plepler once called password sharing “a terrific marketing vehicle for the next generation of viewers.” Netflix shouldn’t cut that off before it becomes a substantial opportunity cost.

While Netflix may be losing billions in revenue to password sharing, its best course of action is to try to capture that opportunity a small bit at a time. It can learn best practices and iterate, which is something the company is particularly good at.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Adam Levy owns shares of Netflix. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Netflix. The Motley Fool Australia has recommended Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The GrainCorp Ltd (ASX: GNC) share price will be on watch this morning. This comes after the company provided a positive business update to investors. At yesterday’s market close, the grain exporter’s shares finished the day at $4.71.

What did GrainCorp announce?

It will be interesting to see where the GrainCorp share price moves today following this morning’s latest release.

GrainCorp advised that it’s forecasting a $25 million boost in annualised earnings before interest, tax, depreciation and amortization (EBITDA) by 2023-24.

It stated that new operating initiatives have resulted in the business becoming more sustainable. These include expanding bulk materials for export, increasing utilisation at the Numurkah and West Footscray processing facilities, and a shift in the foods product mix to higher-value products.

In further news that could impact the GrainCorp share price, the company has revised its international operating model with the closure of its Hamburg (Germany) office. Planning and supply chain performance efficiencies are also expected to be implemented in the near future.

As a result of the company’s strategic changes, EBITDA is forecast to come in at $240 million by 2023-24.

Management commentary

GrainCorp managing director and CEO Robert Spurway touched on the company’s plans, saying:

Our priority is to increase our return on invested capital by strengthening our core businesses.

We will achieve this by utilising excess port capacity with commodities such as woodchips, fertiliser and cement. We are also continuing to drive operational efficiencies throughout our network, which will enhance our competitiveness and improve our customer offering.

Mr Spurway added:

We have taken numerous steps to reduce variability in our earnings, including network rationalisation, operational improvements, and the establishment of the Crop Production Contract. These have helped to stabilise our earnings profile and provides us with confidence to communicate a through-the-cycle view on future earnings.

GrainCorp share price summary

Over the past 12 months, the GrainCorp share price has increased by more than 50%. The company’s shares are also up 12% year to date and within a whisker of reaching their 52-week high of $4.94.

Based on the current share price, GrainCorp has a market capitalisation of around $1.07 billion, with 288 million shares outstanding.

More reading

• Risk posed to Graincorp (ASX:GNC) share price following ACCC verdict
• Will Aussie agricultural commodity prices see another record-breaking year?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Computershare Ltd (ASX: CPU) share price won’t be going anywhere this morning.

This follows the request for a trading halt by the stock transfer company prior to the market open.

Why is the Computershare share price in a trading halt?

Computershare requested a trading halt this morning so that it could undertake a capital raising to partly fund a major new acquisition.

According to the release, the company is aiming to raise $835 million (US$634 million) via an underwritten pro-rata accelerated renounceable entitlement offer with retail rights trading. Management believes this structure will deliver fairness to all eligible shareholders.

Under the entitlement offer, eligible shareholders will be able to subscribe for 1 new Computershare share for every 8.8 shares held on the record date of 29 March 2021 at a price of $13.55 per new share. This represents a 9.6% discount to its last close price.

What is Computershare acquiring?

Computershare has entered into an agreement to acquire the assets of Wells Fargo Corporate Trust Services (CTS). It is a leading US based provider of trust and agency services to government and corporate clients.

The two parties have agreed a purchase price of US$750 million (A$983.2 million), which represents an EV/LTM EBITDA acquisition multiple of 8.9x pre synergies.

However, after including stand-up capex, regulatory capital requirements, and full run-rate synergies, it represents an EV/LTM EBITDA acquisition multiple of just 5.9x.

The company expects the acquisition to be at least 15% management earnings per share accretive on a pro forma FY 2021 basis including full run-rate synergies.

Furthermore, based on ongoing organic growth and cost savings, it believes there is a clear pathway to CTS generating 15%+ return on invested capital by FY 2025.

The acquisition remains subject to regulatory approvals and other customary closing conditions. These are expected to be obtained during the second quarter of FY 2022.

What is CTS?

The release explains that CTS has over 80 years of experience in the corporate trust sector and is currently appointed to administer corporate trust services to ~26,000 mandates across a range of securities and bond issuances. It notes that this enables the business to generate growing fee income and high quality, recurring revenue streams.

Management believes CTS is a highly strategic fit with Computershare’s existing Canadian and US corporate trust operations and its growth strategy.

The combination is expected to accelerate the company’s position in the attractive US corporate trust market to a top 4 position. In addition, with enhanced scale, the acquisition is expected to allow Computershare to have greater exposure to positive, long term structural growth trends in trust and securitisation products.

“Delighted”

Computershare’s CEO, Stuart Irving, revealed that the company is delighted with the acquisition.

He said: “We are delighted to announce the acquisition of Wells Fargo Corporate Trust Services. It is a clear fit with our successful Canadian corporate trust operations and existing US operations. CTS provides scale with a top four market position, a platform for ongoing growth and increased leverage to long term growth trends and interest rates.”

“The Acquisition allows us to integrate CTS’ deep client relationships and market expertise to deliver additional recurring fee revenue. We also see the potential for improved returns and margin expansion through new product development and innovative technologies, Computershare’s core competencies. We welcome the proven and experienced CTS team to Computershare, and we look forward to working with them as we deliver on our growth strategy.”

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Serko Ltd (ASX: SKO) shares are on watch this morning after the company announced an update to its partnership with Booking.com. The Serko share price closed at $5.77 yesterday after a day of poor trade.

The travel technology company stated Booking.com will be transitioning customers of its business service to Serko’s Zeno platform. 

Let’s look further into the announcement the company made this morning.  

Booking.com to upgrade to Zeno 

The Serko share price will be in focus this morning after the company announced that Booking.com’s upgrade to Zeno is an important milestone in the partnership between the companies.  

Zeno is a travel booking platform for corporate travel. It will initially offer a large selection of accommodation options, as well as flights and transport in selected regions.

Serko plans to phase in more regions and languages in time. The majority of Booking.com for Business users are expected to be upgraded to Zeno within 2 to 3 months of its launch.

Serko CEO Darrin Grafton said the company doesn’t expect to see today’s news impact its revenue until the 2022 financial year.

Commentary from management

Mr Grafton commented on the upgrade:

This is an important milestone, not only launching a highly scalable platform that caters to existing Booking.com for Business customers worldwide but marking the start of our vision to bring the connected trip experience to business travelers globally.

The Serko and Booking.com teams have achieved this together under what could be considered one of the most trying years in the history of our industry and to make this happen faster than expected is a credit to the amazing teamwork on both sides.

Serko share price snapshot

The Serko share price has had a volatile week so far. It shot up by nearly 8% on Monday but dropped by 4.63% yesterday.

At the time of writing, the company’s shares are still up 2.85% over the course of this week.

Serko has a market capitalisation of around $622 million, with approximately 107 million shares outstanding.

More reading

• Why the Serko (ASX:SKO) share price is racing 5% higher today
• 2 ASX shares rated as buys by brokers right now

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Serko Ltd. The Motley Fool Australia has recommended Serko Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Transurban Group (ASX: TCL) share price is one to watch after a pre-market capital raising announcement from the Aussie infrastructure group.

Why is the Transurban share price on watch?

Transurban provided an update on financing arrangements for the financing vehicle of WestConnex Group. Transurban owns a 25.5% interest in WestConnex Group alongside others including the New South Wales Government and UniSuper.

WestConnex Finance Company Pty Limited will raise A$650 million via a 10-year, senior secured A$ medium-term note. Pricing was completed on 23 March 2021 with settlement expected on 31 March 2021.

The Transurban share price is one to watch this morning following the price-sensitive announcement on the ASX. Proceeds from the raise will be used for general corporate purposes and to partially refinance an existing A$1.2 billion, 2-year bridge facility.

Transurban interim CFO Tom McKay said, “We are pleased with the strong reception that [WestConnex Group] received in the domestic bond market.” He added, “The success of the issuance demonstrates the underlying strength of the [WestConnex Group] business”. 

The transaction represents WestConnex Group’s first bond issuance. Securing flexible financing and extending the group’s debt maturity profile is a positive for WestConnex Group.

The Transurban share price has had a volatile start to 2021 and remains down 7.1% since the start of the year. Shares in the Aussie toll road operator were smashed in the March 2020 bear market before rebounding strongly. In fact, shares in the infrastructure group are up 14.0% in the last 12 months.

However, that means the Transurban share price has underperformed the S&P/ASX 200 Index (ASX: XJO). The benchmark Aussie index is up 42.4% in the last year after a strong rebound subsequent to the coronavirus pandemic.

Foolish takeaway

The Transurban share price is one to watch after the latest financing announcement for WestConnex Group. Shares in the toll road operator have been under pressure in 2021 after a soft start to the year.

Transurban boasted a $34.9 billion market capitalisation with a 2.4% dividend yield as at Tuesday’s close.

More reading

• 3 ways to help protect your ASX share portfolio against inflation
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• ASX 200 Weekly Wrap: ASX finishes higher, despite tech selloff

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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