Carsales' Result as Expected but Gives More Confidence in the Long-term Outlook
Carsales.com reported a good result across both domestic and international business lines, in line with our expectations. Underlying net profit after tax, or NPAT, rose 8% to AUD 107 million with EPS up 7%. Group EBITDA and revenue both rose 10% to AUD 170 million and AUD 344 million, respectively, with EBITDA margin flat at 50%. Shareholders have been rewarded with a 10% lift in the final dividend to AUD 0.195 per share, fully franked. No specific earnings guidance was given although management...Carsales.com's principal activities consists of: online advertising services, which include classified advertising and display advertising services; data and research services, which include software, analysis, research and reporting, valuation services, website development and hosting as well as photography services; finance and related services, which include the Stratton Finance Pty Ltd subsidiary that provides finance arrangements for vehicles, boats, and other leisure items, vehicle procurement and other related services to customers; and international services, in which Co. has operations in overseas countries through both subsidiaries and equity accounted associate investments.
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.
We have operations in 27 countries.
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