The financial year 2009-2010 looks “pretty good” in the eyes of the stockbrokers and financial adviser group, Presscott Securities.

According to Presscott economist Darryl Gobbett, “big public companies have done well in the last 12 months. He also cited the growth in the three private companies which he forecasts to be future long-term investors.

Woolworths (WOW), Gobbett said, “ is one of those good stable companies showing good earning growth, picking up market share, (and) a well-managed company.” The economist has considered Westpac Banking Corporation (WBC) and QBE Insurance Group (QBE) as cheap in terms of future earnings at this time.

The big banks are seen as a rising force in Australia. “Their earnings have been growing pretty well and their bad debts are coming down,” Gobbett said.

Gobbett also saw a potential in hydrocarbon company Santos Limited (STO). He said, the company is “well-priced with its oil and gas, it's got a lot of local investors, (and) a lot more international interest in it.”

The double dip economic conditions in the United States were also seen as a factor in the Australian economy. Gobbett said, though, “we don't see that (double dip) happening here but there's uncertainty caused by the election.”

The Presscott economist remains hopeful “that what comes out after the election is not going to give people more uncertainty to go ahead, particularly, on the business side so they can continue to employ people.”