Costs Spoil No-Moat Fletcher’s First-Half Revenue Party; Focus Now Turns to Strategic Review
No-moat Fletcher’s first-half fiscal 2018 results showed good revenue growth, as demand for building materials was strong across key markets. Unfortunately, revenue gains did not translate to earnings, as margins came under pressure. Our fiscal 2018 estimates were conservative, and so we see only a small NZD 2 million decline in our adjusted EBIT estimate to NZD 12 million (including charges) and adjusted loss per share to NZD 13 cents. No interim dividend was declared, and we now assume that no...
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.