Lack of Brand Power Drives Another Weak Result and Soft Outlook for Asaleo Care, FVE Cut by 4%
Asaleo Care released weak fiscal 2017 results, reporting underlying NPAT of AUD 59 million, down 8% on the prior year, in line with our expectations. Our thesis continues to play out, as the company’s lack of an economic moat and brand power sees it struggling to defend market share in the personal care segment amid aggressive competitive discounting. These challenges were partially offset by lower costs and improving margins in the tissue segment, although insufficient to drive earnings growth ...Asaleo Care is a personal care and hygiene company. Co. is engaged in manufacturing, marketing, distributing and selling of everyday consumer products across the Feminine Care, Incontinence Care, Baby Care, Consumer Tissue and Professional Hygiene product categories. Co. has two reporting segments: Tissue, which manufactures and markets personal toilet tissue, paper towel, facial tissue, napkins and other tableware products within Australia, New Zealand and Pacific Islands; and Personal Care, which manufactures and markets personal hygiene products and nappies within Australia and New Zealand.
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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