Ramsey reported FY17 NPAT in line with guidance at A$543 million, up +12.7% on the same time last year. Revenue was also in line at A$8.7 billion.
All divisions contributed to earnings growth with Australia & Asia as the standout.
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Assuming underlying EPS growth of 15% into FY18, we have Ramsey on a 2.2% forward yield, as dividends increase to $1.45 per share.
We view Ramsey as a strong buying opportunity on the next higher low formation, or Algo Engine buy signal.
