Sigma Delivers In Line With Guidance; Major Infrastructure Programs Remain on Track
Narrow-moat Sigma reported full-year underlying EBIT of AUD 90 million for fiscal 2018, in line with guidance provided in October 2017, on group revenue of AUD 4.1 billion, down 10% and 5.4%, respectively, on the prior corresponding period. Underlying net profit after tax of AUD 59.9 million was down 10.5% year on year. We maintain our fair value estimate at AUD 0.95 per share. Sigma declared a full-year dividend of AUD 2.5 cents per share, representing a healthy 88.7% payout ratio, in line with...Sigma Healthcare is a pharmaceutical wholesale and distribution business in Australia, delivering to pharmacies Australia wide.Co.'s pharmacy-led network includes over 700 retail brand members representing the brands Amcal, Guardian, PharmaSave, Chemist King and Discount Drugstores. Co. also manages and promotes a range of Over the Counter private label products made available to brand member customers, as well as a generic range of private label products under the Pharmacy Care range. In addition, Co., through its subsidiary, Central Healthcare Services, has a presence in the hospital pharmaceutical distribution market.
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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