No-Moat CSR Delivers 1H Fiscal 2019 Result in Line With Our Expectations; FVE Unchanged
While slightly soft, no-moat CSR’s first-half fiscal 2019 result largely tracked our expectations. The group delivered underlying EBIT of AUD 143.8 million in the first half, leaving CSR well placed to meet our revised full-year fiscal 2019 EBIT forecast of AUD 279 million. Building products & glass earnings were stronger than we’d anticipated, but aluminium segment EBIT was softer due to rising raw materials costs. While we’ve reduced our full-year fiscal 2019 EBIT forecast by 7%, our long-...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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