Downer's First-Half NPAT in Line with Expectations, Cash Flow a Highlight
We make no change to our AUD 4.50 per share fair value estimate but increase our fiscal 2017 earnings forecast 8% to AUD 170 million--close to Downer’s AUD 175 million target. Our fiscal 2018 forecast is unchanged at AUD 170 million. First-half fiscal 2017 net profit after tax increased 9% to AUD 78.2 million or AUD 0.18 per share, in line with expectations. This includes AUD 10 million in costs for unsuccessful contract bids. Margin improvement drove the profit rise, with revenue up 1.7% to AUD...Downer EDI is engaged in providing services to customers which includes Transport Services; Technology and Communications Services; Utilities Services; Rail; Engineering, Construction and Maintenance; and Mining, in Australia and New Zealand and also in the Asia-Pacific region, South America and Southern Africa.
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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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