GUD Holdings Interim Result In Line With Expectations; Fair Value Estimate Unchanged
Despite reporting an 8% increase in underlying net profit after tax, or NPAT, for the first half of fiscal 2017, no-moat GUD remains overvalued relative to our unchanged AUD 8.50 per share fair value estimate. The core automotive business continues to deliver growth. However, this strong performance was watered down by further deterioration in Davey and Oates, while Dexion remains in a loss-making position. Overall, the result was broadly in line with our expectations, and the group is on track ...GUD Holdings is engaged in the manufacture and importation, distribution and sale of cleaning products, household appliances, warehouse racking, industrial storage solutions, office storage products, automotive products, locking devices, pumps, pool and spa systems, and water pressure systems, with operations in Australia, New Zealand, France, Spain, China, Malaysia and Hong Kong. Co.'s reportable segments are Oates, Automotive (Ryco, Wesfil, Goss), Davey, Dexion, and Lock Focus.
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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