morningstart rates gwt a buy

This manufacturer of toilets, sinks, water heaters and other housing products is solid and well managed, with strong brands and positions in not overly-competitive markets. We expect modest profit gains this year supported by new product sales and cost cutting. The recent rise in housing finance approvals point to a turnaround in construction by the end of the year. Next financial year should be stronger as housing market conditions improve, though rising interest rates, affordability difficulties and ongoing land supply shortages will provide constraints.

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