Tuesday 23 August 2016 by FIIG Research Company updates

Company updates — BlueScope, G8 Education, McPhersons and Sydney Airport

BlueScope more than doubles its full year profit, G8 Education’s growth has slowed, McPherson’s posted solid FY16 results and Sydney Airport continued to deliver a strong performance

BlueScope

BlueScope more than doubles full year profit on cost improvements, with both the 2018 and 2021 bonds continuing to rally.

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G8 Education

G8 Education’s growth rate has slowed as expected for 1H16, although its results were sound from a credit perspective.

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McPhersons

McPherson’s has posted good results with solid cash generation and debt reduction.

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Sydney Airport

Sydney Airport delivers a consistently strong performance, with 1H16 highlighted by near double digit growth in international passenger traffic numbers. Even though inflation is low, Sydney Airport’s performance and the high real yield available on the inflation linked bonds means the bonds should be a core holding in most portfolios.

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