Ann: DuluxGroup delivers solid profit growth, page-10

Not close to this stock but from MF (not close to them either).  Hope this provides interest even if you don't agree.

A note out of ​

Deutsche Bank​

reveals that it has retained its ​

sell​

rating and $5.70 price target on this paints and homeware company’s shares following yesterday’s full year results release. Dulux posted a 5.4% increase in net profit after tax to $150.7 million and advised that it expects further growth in FY 2019 despite the cooling housing market. Deutsche was disappointed with the company’s results as its profit growth was boosted by an asset sale, lower than expected depreciation, and net interest expense. In addition to this, the broker felt that Dulux’s cash flow were weak. Overall, it sees no reason to change its rating at this stage​