Fewer auctions to impact 2017 McGrath revenue: Bell Potter forecast

Fewer auctions to impact 2017 McGrath revenue: Bell Potter forecast
Fewer auctions to impact 2017 McGrath revenue: Bell Potter forecast

The first McGrath annual general meeting as a listed company takes place this afternoon.

The company has yet to provide any guidance for 1HFY17 or FY17.

Stockbrokers Bell Potter advised the well publicise lower auction volumes in Sydney was likely to be significant.

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Fewer auctions to impact 2017 McGrath revenue: Bell Potter forecast

"We expect the 1HFY17 result to be well below 1HFY16.

"We also expect volumes to remain subdued next Autumn (the next key auction period) but similar to those this year so at this stage we forecast the 2HFY17 result to be similar to 2HFY16. 

"The combination of a weak 1HFY17 result and a flat 2HFY17 result means overall we forecast the FY17 result to be below FY16."

Bell Potter issued its revenue, EBITDA and NPAT forecasts for both 1HFY17 and FY17.

"The 1HFY16 and FY16 results are shown on a pro forma basis so that a like-for-like comparison can be made," Bell Potter analyst Chris Savage noted.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Mcgrath Asx Listing

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