Newspaper Declines but Domain Shines; Fairfax Media's Fair Value Estimate Lifted to AUD 0.80
Fairfax Media's fiscal 2016 result was underwhelming, with normalised net profit after tax, or NPAT, down 8% to AUD 132.7 million and shy of our AUD 151.9 million estimate. The key culprits were the metropolitan media unit (EBIT down 57%, with secular headwinds showing no signs of abating) and higher-than-anticipated corporate costs (AUD 61 million, more than the EBIT from three of Fairfax's five operating divisions).The final DPS of AUD 0.02 was also below our AUD 0.03 estimate, given the str...
Fairfax Media is engaged in the publishing of news, information and entertainment, advertising sales in print and digital formats, and radio broadcasting. Co.'s segments include: Domain Group, which is engaged in real estate media and services business; Metropolitan Media, which is engaged in metropolitan news, sport, lifestyle and business media; Australian Community Media, which is engaged in newspaper publishing and online for all Australian regional, community and agricultural media; New Zealand Media, which is engaged in newspaper, magazine and general publishing and online for all New Zealand media; and Radio, which is engaged in metropolitan radio networks in Australia.
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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.