Strong Fiscal 2016 Result, Although Housing Approvals Are Falling; Cutting FV To AUD 3.10
CSR announced a 13% increase in net profit after tax, or NPAT, (before significant items) to AUD 166 million, which was roughly 10% ahead of our estimates. Adjusting for the AFS acquisition, we estimate underlying NPAT increased by 11%. The result incorporated AUD 23.7 million of restructuring charges (AUD 21.2 million in the previous corresponding period), relating to the formation of the PGH bricks joint venture, which took effect on 1 May 2015. EPS increased by 13% to AUD 0.329, while DPS inc...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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