A Mixed Interim Result from ARB Corp, Fair Value Estimate Unchanged
Our AUD 12 per share fair value estimate for narrow moat-rated ARB Corporation remains unchanged following their interim fiscal 2017 results. The company continues to deliver earnings growth, despite being faced with disruptions at the Thailand production facility, weakness in the Western Australia economy, and margin pressure in the United States.ARB reported underlying profit before tax of AUD 32 million, an 8% increase on the previous corresponding period. Underlying NPAT grew a fraction sl...
ARB is engaged in the design, manufacture, distribution and sale of motor vehicle accessories and light metal engineering works.
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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