Duet Group (DUE) - FY15 result in line with consensus and maintains FY16 distribution forecast

Bell Potter


Operating company EBITDA: DBP was down 9.8% to $314.5m, EBITDA margin 79.3%, United Energy up 7.9% to $360.1m, EBITDA margin 70.6% and Multinet Gas down 1% to $122.2m EBITDA margin 66.4%. Duet reaffirmed distribution guidance of 18.0cpss for FY16 and expected to be fully covered by forecast operating cash flows. (“On the back of our proposed EDL acquisition, we recently upgraded our FY16 full-year distribution guidance to 18cpss, targeting growth to 19cpss in FY18.”). Read the full summary here: (VIEW LINK)

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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