G8 Education Affected by Cyclical Factors, but Long-Term Outlook Remains Good
G8 Education reported underlying EBIT of AUD 156 million for fiscal 2017, which was 3% below our AUD 161 million forecast and missed management guidance of "around 160 million" provided last December. We maintain our view that the company’s challenges are cyclical rather than structural and that the long-term outlook remains good. We believe the 8% share price fall that followed the result reflects investor concerns around the short-term earnings outlook following the 14% fall in second-half rep...
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