Adelaide Brighton’s Outlook Becomes More Cautious With Infrastructure yet to Deliver; FVE Unchanged
Residential construction in Australia is cooling faster than narrow-moat Adelaide Brighton had anticipated in February when it guided to flat 2019 volumes. The company’s 2019 outlook has now become more cautious, with the significant pipeline of infrastructure projects yet to provide much needed offset to softening demand from housing construction. We share Adelaide Brighton’s cautious view on 2019, having previously revised our expectations lower for construction materials names Adelaide Bright...Adelaide Brighton is an integrated construction materials and industrial lime producer which supplies a range of products into building, construction, infrastructure and mineral processing markets throughout Australia. Co.'s principal activities include the production, importation, distribution and marketing of clinker, cement, industrial lime, premixed concrete, construction aggregates and concrete products. In addition to domestic production, Co. is the importer of cement, clinker and slag into Australia.
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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