Mortgage Choice’s FY17 Profit Impresses; Positive Outlook and AUD 2.50 FVE Unchanged
No-moat Mortgage Choice’s impressive fiscal 2017 performance reinforces our positive view as the mortgage broker leverages buoyant home loan markets in New South Wales and Victoria. The AUD 22.6 million cash profit increased 10% on fiscal 2016, in line with our forecast. The fully franked total dividend of AUD 17.5 cents per share is 6% higher than a year ago based on a 97% payout. The impressive 7.6% yield, grossing to over 10%, continues to attract. Strong profit growth was driven by a 2% incr...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.
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