Earnings reports: Brambles, AMP, ASX, Sydney Airport & Origin Energy

CommSec

Brambles (BXB) posted a FY net profit of US$587.7m up 1%. The result was in line with upgraded guidance and took into account the one off impairment charge of US$38m against the value of its Oil & Gas assets, reflecting the current market conditions in the Oil & Gas sector: AMP posted a worse than forecast 10% slide in 1H underlying profit to $513m. Much weaker than forecast numbers from its Wealth Protection arm and a soft outlook have led its shares lower: ASX has reported a net profit after tax (NPAT) of $426.2 million, an increase of 7.1%. In underlying terms, which excludes a restructuring charge booked in the previous year, NPAT rose by 5%: Sydney Airport (SYD) posted a FY net profit of $152.7m, up 9.8% & in line with expectations: Origin Energy (ORG), posted a slightly worse than expected 46% slide in FY underlying profit to $365m. Weaker energy prices & substantial one-off items such as impairment charges & restructuring costs held the result back most: For more Reporting Season coverage: (VIEW LINK)


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