Mortgage Choice delivers attractive returns, but the mortgage broker industry is facing challenges.
No-moat Mortgage Choice delivered solid first-half fiscal 2018 cash profit of AUD 12.5 million, broadly in line with our expectations. The 7% increase on the prior corresponding period, or PCP, was largely driven by improved commission margin, tight cost control, and strong performance of diversified products and financial planning divisions. The interim fully franked dividend of AUD 9 cents per share represents a 96% payout. We retain our AUD 2.50 fair value estimate, with the stock currently f...Mortgage Choice is engaged in mortgage broking. Co.'s activity includes: the provision of assistance in determining the borrowing capacities; the assessment, at the request of those borrowers, of a range of home loan or other products; and the submission of applications on behalf of prospective borrowers.
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.
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