Steadfast’s Solid 1H18 Profit Supports Attractive Growth Outlook. FVE AUD 3 Unchanged
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...
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