Acquisition Growth Fuels Strong Performance for Wide-Moat Edenred
Wide-moat Edenred reported strong full-year results with strong organic revenue growth of 8.6%, helped further by acquisition growth and positive currency moves, bringing total revenue growth to almost 18%. A further strengthening of EBIT margins by 20 basis points to 32.6% has helped increase net income by 37% year over year. Although these results were marginally ahead of our underlying forecasts, we expect to make only modest changes to our near-term forecasts and to our EUR 21 fair value est...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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