Strong East Coast Demand Partially Offset by Slowing WA Cement Volumes for ABC; Retain AUD 4.80 FVE
Adelaide Brighton announced first-half 2016 net profit after tax of AUD 77.1 million, down 6.7% on the previous corresponding period. Like-for-like NPAT was up 7.8% to AUD 75.8 million, excluding AUD 1.3 million of property sales. The result was slightly below our estimates. Higher infrastructure-led demand on the East Coast for concrete was partially offset by reduced demand in Western Australia, or WA, and the Northern Territory for cement and lime (25% of revenue). Revenue growth was tepid (u...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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