Difficult Trading Conditions Weigh On Spotless’ Earnings; Downgrading FVE By 20% To AUD 1.20
We have cut our fiscal 2017 and 2018 EPS estimates for Spotless by 16% and 24%, respectively, following reduced expectations for growth in the company’s Resources segment (10% revenue) and slowing growth in government funding (50% revenue). We have also increased our capital expenditure estimates to reflect management’s strategy to reinvest in the business by upgrading IT systems, appointing senior management, and expanding service offerings. While we expect these investments to support solid or...Spotless Group Holdings is engaged in the provision of outsourced facility services, laundry and linen services, technical and engineering services, maintenance and asset management services and refrigeration solutions to various industries in Australia and New Zealand. Co.'s operating segments comprised of: Facility Services, which provides multi-faceted facilities management, cleaning, and catering and food services to a range of industries across Australia and New Zealand; and Laundry Services, which provides linen and uniform laundry services to a range of customers across Australia and New Zealand.
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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