Dulux to Deliver Healthy Earnings Growth Despite Moderating New Housing Construction
With narrow-moat Dulux to report its full-year fiscal 2018 result in November, we still expect mid-single-digit EPS growth on average during the next three years. Accordingly, we retain our AUD 7.50 per share fair value estimate. With Dulux shares currently trading at a 5% premium to our valuation, we still view the stock as fully valued. An attractive characteristic is the resilience of Dulux’s earnings, which are less challenged by the ebbs and flows of the construction cycle, with revenue mor...DuluxGroup is engaged in the manufacture, marketing, manufacture, marketing, sale and distribution of branded paint, coatings, adhesives, garden care and other building products to the residential home improvement, commercial and infrastructure markets across Australia, New Zealand and Papua New Guinea, China, South East Asia and the U.K. Co. supplies paints and coatings under the Dulux brand; consumer and construction products under the Selleys and Parchem brands; cabinet and architectural hardware under the Blum, Hera, SecureView, Assa Abloy and Breezway brands; and Yates garden care and home improvement products.
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