First-Half 2017 NPAT Up 12% on Stronger Building Products; FVE Lifted 6% to AUD 3.30
We revised our earnings and fair value estimates for no-moat CSR. CSR reported a 12% lift in earnings, with first-half fiscal 2017 underlying NPAT of AUD 103 million and EPS of AUD 0.205. An unfranked interim dividend of AUD 0.13 per share was declared, up 13%. Earnings growth was driven by building products, which saw 29% higher EBIT, with higher volumes and prices on strong east coast residential activity. Operating cash flow grew 20% to AUD 91 million, supporting the current AUD 150 million s...CSR is engaged in the manufacture and supply of building products in Australia and New Zealand. Co. operates in four segments, Building Products, Glass, Aluminium and Property. The Building Products segment consists of Lightweight Systems, Insulation, AFS walling systems, Bricks, and Roofing. The Glass segment includes the operations of Viridian, an architectural glass provider and manufacturer of float glass and hardcoated performance products. Products from the aluminium business include aluminium ingot, billet and slab.. The Property segment sells former operating sites.
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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