Pact Held Back by Negative Volume Growth, but Cost-Out Delivers; Retain AUD 5 FVE (Corrected)
Pact Group announced 2016 net profit after tax of AUD 85.1 million, up 26% on 2015. Like-for-like NPAT increased 11% to AUD 94.3 million, after excluding AUD 9.2 million of restructuring costs. The result was slightly below our estimates, owing to a smaller-than-expected contribution from recent acquisitions. Adjusting for acquisitions (AUD 203 million in revenue and AUD 10.3 million in EBIT), we estimate flat NPAT. The result reflected lower demand from the agricultural and dairy sectors and lo...Pact Group Holdings is provider of specialty packaging and manufacturing solutions in Australasia. Co. converts plastic resin and steel into rigid packaging and other products that service customers in different sectors including: food and beverage, personal care, household consumer, industrial and chemical, and materials handling and infrastructure. Co. also provides a range of services including outsourced manufacturing, filling and packing and a range of sustainability, recycling and environmental services to assist customers in reducing the environmental impact of their product packaging and related processes.
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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