Southern Cross Media Provides a Starry Outlook; Fair Value Estimate Raised 9% to AUD 1.20
The 19.1% increase in no-moat-rated Southern Cross' fiscal 2016 normalised net profit after tax, or NPAT, to AUD 77.2 million was in line with our estimate. There was also no great surprise in the divisional composition, although the 11.1% fall in metropolitan radio EBITDA to AUD 51.4 million was marginally lower than expected, while the 14.3% lift in regional EBITDA to AUD 131.1 million was slightly above our expectations.The positive outlook painted by management was surprising, with guidance...
Southern Cross Media Group is engaged in the creation and broadcasting of content on free-to-air commercial radio (AM, FM and digital), television and online media platforms across Australia.
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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