MILTON CORPORATION LIMITED (MLT)



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General Information
Company Name: Milton Corporation Limited
Stock Code: MLT
Website: www.milton.com.au
GICS Sub-Industry: Other Diversified Financial Services
Market Cap ($M): 2,425
Equiv. Shares (M): 122

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 19.980 $ 19.960 $ 20.090 $ 19.890 $ 19.850 26,046 $ 0.130  0.655 %

Current Broker Consensus Recommendation more
Recommendation: Buy
Recommendation Date: 31st Jul 2008
12 Month Target Price (average): $0
Brokers Surveyed: 1

Company Overview

Business Description:
Milton Corporation Limited (MLT) is an investment company, holding a portfolio of ASX listed shares. Milton also invests in trusts, fixed interest securities including mortgages, and real property.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A 102.6 84.4 5.1 17.6 78.0 5.2 100.0
2011  A 89.9 80.3 5.7 20.1 81.0 5.0 100.0
2010  A 71.0 76.0 -8.2 22.8 71.0 4.1 100.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
IOOF (IFL) $2,064 M -0.1406 0.1266 0.1283 21.5254 19.1060 16.9333 0.0416 0.0465 0.0517
Milton Corporation (MLT) $2,425 M 0.0509 -- -- 23.5217 -- -- 0.0393 -- --
Macquarie Group (MQG) $15,503 M 0.2165 0.4295 0.1146 18.5453 12.9736 11.6399 0.0438 0.0545 0.0618
Perpetual (PPT) $1,902 M 0.1615 0.1182 0.1807 26.9430 24.0947 20.4072 0.0199 0.0260 0.0368
Platinum Asset Mgmt (PTM) $3,109 M -0.1447 0.0036 0.1749 24.2559 24.1700 20.5727 0.0385 0.0380 0.0465

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
MLT 0.92 23.5 1.28 --
Market 1.08 13.3 0.91 2.59
Sector 1.23 19.9 1.15 1.35

Directors
Name Position Start Date
Mr Francis (Frank) Gerard Gooch Managing Director 07 October 2004
Mr Kevin John Eley Non-Executive Director 01 December 2011
Mr Ian Alfred Pollard Non-Executive Director 06 August 1998
Mr John Frederick Church Non-Executive Director 07 April 1986
Mr Graeme Lindsay Crampton Non-Executive Director 01 June 2009
Mr Robert Dobson Millner Non-Executive Director,Non-Executive Chairman 06 August 1998

Management
Name Position
Nishantha Seneviratne Company Secretary

Substantial Shareholders
Holding Name
6,717,060 (5.52%) Washington H Soul Pattinson and Co Ltd
8,260,028 (6.79%) Argo Investments Limited

Calendar of Events
Date Event
22 January 2014 Report (Interim)
13 August 2013 Report (Annual)
25 July 2013 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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