DUET Group Proportionate earnings fall in 1H 17
Proportionate earnings fall in 1H 17: DUET Group (ASX: DUE) has raised over $1.6 billion of term debt and refinanced in 1H17. The group also reaffirmed 18.5 cps guidance for FY17. Moreover, the Scheme Implementation Agreement has been signed with CKI-led consortium to acquire 100% of DUET. However, the transaction remains subject to regulatory approvals. The Scheme Meetings are expected to be held in April 2017 and the implementation by mid-May 2017. On the other hand, the proportionate earnings in 1H 2017 fell 6.8% on a pro forma basis against prior corresponding period (pcp), and down 2.4% on actual pcp, mainly due to $18.8 million of non-recurring items. DUE stock has risen 17.37% in the last three months as on March 01, 2017 placing them at a high level.
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