The ASX takes a breather this week as Australia celebrates the arrival of the First Fleet on 26 January 1788.
So I thought investors would be well served reading about two of Australia's greatest companies (in my opinion), as preparation for the resumption of trade on Friday.
Although most companies on the S&P/ASX 200 Index (ASX: XJO) are considered "Australian", I believe CSL Limited (ASX: CSL) and Telstra Corporation Ltd (ASX: TLS) are as Aussie as they get when it comes to demonstrating the Australian values of determination and mateship.
Here's why.
CSL
I liken CSL to tennis legend Lleyton Hewitt – a man that is ocker Australian.
From humble beginnings as the government owned Commonwealth Serum Laboratories, CSL has grown from strength-to-strength to undisputedly become a global champion in its field like Hewitt during his heyday.
As the biggest healthcare stock on the local market, CSL carries the hopes of a nation to make it on the international stage as a world leader in biotechnology. Unsurprisingly, like Hewitt two sets down in the 2003 Davis Cup against Roger Federer, Australia's largest blood plasma, immunoglobulin and vaccine products maker has not failed to deliver.
The biotech behemoth last week provided a market update, announcing its full-year 2017 profit is expected to be higher than the guidance provided in 2016.
Management said strong sales performance in immunoglobulins and specialty products is expected to boost net profit after tax to approximately US$800 million for the six months ended 31 December 2016. This result corresponds to growth of circa 18% to 20% in constant currency on its 2016 numbers, demonstrating a match-winning performance in my books.
Telstra
In my mind, Telstra is like the Donald Bradman of Australian companies. It is a consistent performer in any economic climate, being one of the very few organisations which brings people together – literally.
The telecommunications giant began operating in 1975 as the (then) Australian Telecommunications Commission (ATC) and was the first of its kind. The ATC operated Australia's domestic telecommunications network, investing heavily in copper wiring to ensure almost every part of Australia was connected.
Over 40 years on and not much has changed. The ATC, better known today as Telstra, is still the premier telecommunications company in Australia, boasting unrivalled network coverage throughout rural areas (thanks to its large infrastructure investment over the years).
Furthermore, like Donald Bradman's average, Telstra's reliability and service has withstood the test of time. Despite valiant attempts by competitors Amaysim Australia Ltd (ASX: AYS) and TPG Telecom Ltd (ASX: TPM) trying to take its mantle, Telstra's reliability of service enables the business to continue to attract new customers and churn out solid profits year-on-year. This is why it is an investment for the ages in my books.
Foolish takeaway
In my opinion, both CSL and Telstra are excellent long-term holds given their ability to withstand the onslaught of domestic and international competition and rise above to hold Australia's flag high on the international stage.
Whilst neither are necessarily cheap at today's prices, I'd recommend investors keep an eye on these two Aussie darlings for opportune entry points after Australia Day.
