GWA Group Sees Flat Revenue and Operating Earnings Growth in 1Q, Tracking Our Expectations
We maintain our AUD 2.20 fair value estimate for narrow-moat GWA Group following the firm’s first-quarter trading update. The company noted that sales were flat during the quarter versus the previous corresponding period, or pcp, tracking our full fiscal-year expectations. Past fiscal 2018, we continue to expect a slowing Australian new-construction market to drive negative single-digit revenue growth for the roughly half of the business tied to this end market. Approvals for new residential con...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.
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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