Report
David Ellis
EUR 100.00 For Business Accounts Only

Growth of Australia and New Zealand's largest insurance broker network is set to be acquisition-led.

No-moat-rated Steadfast Group’s first-half fiscal 2018 cash profit of AUD 43 million missed expectations, but increased a healthy 5% on the previous corresponding period, or pcp. Revenue growth was strong, up 6%, but expense growth was stronger at 8%, delivering negative “jaws” for the half. Underlying cash EPS increased at a lower rate due to the capital raising late in the half, but the 8% increase in interim fully franked dividend to AUD 2.8 cents per share, or cps, was broadly in line with e...
Underlying
Steadfast Group Limited

Steadfast Group is engaged in the provision of services to Steadfast Network Brokers, the distribution of insurance policies via insurance brokerages and underwriting agencies, and related services.

Provider
Morningstar
Morningstar

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.

Analysts
David Ellis

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