Report
Adam Fleck

GWA boasts an attractive portfolio of brands in a cyclical and competitive industry.

GWA Group reported a steady set of results for first-half fiscal 2018, growing revenue by 2% on the pcp, to AUD 227 million, slightly ahead of underlying market growth of 0.7% and ahead of our full-year forecast. Top line growth benefited from volume and mix, with strong performance from the core Coroma brand and incremental market share gains. Further progress on announced cost reductions led to slight margin expansion, driving EBIT growth of 6% pcp to AUD 42 million, while lower net finance co...
Underlying
GWA Group

GWA Group is engaged in the research, design, manufacture, import and marketing of building fixtures and fittings to residential and commercial premises and the distribution of these various products through a range of distribution channels in Australia, New Zealand and selected international markets. Co.'s business segments are: Bathrooms and Kitchens, which includes vitreous china toilet suites, basins, plastic cisterns, tapware, baths, kitchen sinks, laundry tubs, and bathroom accessories; and Door and Access Systems, which includes door locks and levers and supply and maintenance of commercial door systems.

Provider
Morningstar
Morningstar

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.

Analysts
Adam Fleck

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