The voting machine and the weighing machine

Tim Carleton

“In the short run the market is a voting machine but in the long run it is a weighing machine.” Show More

investing value volatility earnings ASX:MQG Auscap

Resource stocks haven't run their race yet

Naheed Rahman

Over the past quarter, much of the small-cap index outperformance over large caps has been due to the excellent returns of small resource companies. Given their cyclical nature, is that a reason to look elsewhere? The following note makes it clear that we think not. Show More

Investor Snapshot: ANZ shares drop as net interest margin declines


ANZ has reported full year cash profit of $6.9bn - up 18% and in line with analyst expectations. However, a fall in its net interest margin has disappointed investors, sending ANZ shares down about 2%. Show More

earnings commsec asx: anz ANZ Bank Steven Daghlian

Ramsay Health Care Full Year Result: RHC posts solid result but FY18 forecast underwhelmed


Ramsay Health Care (RHC) has reported a 12.7% lift in Core Net Profit after Tax of $542.7 million, while posting a weaker than expected $488.9 million full-year net profit for the 2017 financial year. Show More

earnings health profit ASX:RHC Ramsay Health Care Juliana Roadley

Medibank Private Full Year Result: MPL posts good result in a tough health care market


 Medibank Private Limited (MPL) reported group net profit of $449.5 million, better than markets had expected for the 2017 financial year. The headline result was boosted by stronger investment returns helping to offset lower revenue from its Medical health division. Medibank’s full year result was impacted by a fall... Show More

Santos Half Year Result: STO 2018 guidance stronger as the rebuild phase continues


Energy producer, Santos Limited (STO) reported a net profit of US$156 million for the first half of 2017 against a US$5 million loss in 2016. The company has been in a rebuilding phase over the last 18 months and is well on the way to meeting its renewed strategy under... Show More

earnings santos ASX:STO Juliana Roadley August 2017 Reporting Season

Woolworths Full Year Result: WOW rebound in Australian Food offset by losses at Big W


Woolworths (WOW) returned to profitability in FY17, posting a $1.5bn profit for the 12 months ended 25 June 2017, thanks to strong sales momentum at its core supermarket chain late in the year. While the headline result is a huge improvement on the $1.2bn lost last year, due to billions... Show More

retail earnings woolworths ASX:WOW consumer staples Steven Daghlian

BHP Full Year Result: Profit back in the black as BHP tables its shale sale


 The world’s largest mining company, BHP Billiton’s (BHP) full year numbers were a vast improvement on this time last year as the rebuilding phase nears completion. That being said, BHP’s underlying profit was below market expectations even with a massive 454% lift on last year. Show More

earnings profit ASX:BHP August 2017 Reporting Season BHP Limited

ASX Full Year Result: A lift in volatility helps boost ASX Limited’s bottom line


ASX Limited (ASX) the operator of Australia's primary national securities exchanges reported FY17 numbers today. Underlying earnings for the year were slightly higher, boosted by greater trading volumes on the back of a lift in volatility and strong futures trading volumes. The ASX marked the 30th anniversary of its formation... Show More

earnings ASX:ASX ASX Limited Juliana Roadley

Cochlear Full Year Result: COH expects positive momentum to continue into 2018


 COH’s total sales revenue increased by 12% in constant currency (CC) to $1,239.7 million in 2017, while total expenses rose by 10% in CC to $942.7 million. As a result EBIT rose 15% in CC to $315.6 million. The net profit result includes $20.0 million of currency translation impacts... Show More

Telstra Full Year Result: The expected cut to TLS’s future dividends is now a reality


 Australia’s largest listed telco, Telstra (TLS) reported a softer than expected set of full year numbers and also advised the market it would be cutting its dividend payout ratio in the future. Revenue for the year fell 2.7%, total income also fell by 4.9% and its mobile revenue decreased... Show More

Tatts Group Full Year Result: TTS profits held back by merger costs & drop in jackpots


Gaming group, Tatts (TTS) posted a weaker than expected $220.5m net profit for the 12 months to 30 June 2017. The near 6% slide in earnings was driven by merger costs, fewer jackpots and bad weather which hurt its wagering business. Show More

Westfield Half Year Result: WFD turns focus to flagship stores & technology to grow profits


After spinning off its Australian and New Zealand management businesses into a separate organisation (Scentre Group), Westfield Corporation is now primarily focussed on operating and building shopping malls in the US and the UK. The group reported a net profit of US$588.9 million in the first half year, an increase... Show More

Woodside Petroleum Half Year Result: WPL lift in profit & lower costs help to boost dividend


West Australian based energy firm, Woodside Petroleum’s (WPL) half year results were largely in line with expectations. Investors were happy to see the first half dividend coming in higher than expected. Show More

Stockland Full Year Result: SGP profits lift on strong Australian property market


One of the country’s biggest developers, Stockland (SGP) posted a larger than expected lift in net profit for the year to June 2017, to $1,195 million. This result benefitted from Australia’s solid property market. Funds from Operations (FFO) – its preferred measure of performance as it adjusts for depreciation and... Show More

earnings stockland ASX:SGP Steven Daghlian August 2017 Reporting Season

Origin Energy Full Year Result: ORG records $2.2b loss but underlying results tick the boxes


Origin Energy has reported a full year loss of $2,226 million in 2017. The main feature of the result was the impairment charge of more than $3 billion against the carry value of its assets reflecting weaker energy prices. Show More

earnings profit origin energy ASX:ORG August 2017 Reporting Season

CSL Full Year Result: Bumper 2017 result but 2018 forecast underwhelms investors


Show More

JB Hi-Fi Full Year Result: JBH profits lift on Dick Smith collapse & The Good Guys purchase


JB Hi-Fi (JBH) posted a better than expected 36.5% lift in underlying profit for the 12 months to June 2017 to $207.7m. The result - which was slightly above the discount retailer’s own guidance - was boosted by the collapse of Dick Smith (reduced competition) and the near $900m purchase... Show More

Newcrest Mining Full Year Result: NCM underlying profit misses expectations


Australia’s largest listed gold producer, Newcrest Mining Limited (NCM) posted a slightly weaker than expected full year underlying profit result. Net profit fell 7% to US$308 million. Underlying profit did increase by 22% boosted by an average lift in US$ per ounce of gold. The lift in price was offset... Show More

Ansell Full Year Result: ANN profit misses consensus forecasts


2017 will be the last full year period in which Ansell’s (AAN) Sexual Wellness unit will make a financial contribution to its bottom line. The previously announced sale of the Sexual Wellness business for $600 million, has meant the result comprised of figures for discontinued and continuing operations. The sale... Show More