Morningstar | Spotless Integration Going Well and Growth in Road Construction Benefits Surfacing Business
Despite a highly supportive macroeconomic environment in the past decade, Downer EDI's financial results have been mixed, with strong profitability in one division often offset by losses in another. Downer has been unable to establish an economic moat. Lack of earnings stability and legacy issues have plagued the company. In the past, Downer has also underperformed from an operational perspective, but the firm now appears to have learned some hard lessons. However, Downer's mining services, infrastructure, and rail divisions are facing the effects of lower demand, project delays, and increased competition. In late October 2014, Downer acquired Tenix, a major provider of long-term operations and maintenance services to the power, gas, water, industrial, and resources sectors in Australia and New Zealand. In April 2017, it bought facilities manager Spotless Group.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.
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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