Earnings reports: Brambles, AMP, ASX, Sydney Airport & Origin Energy
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)
4 stocks mentioned
CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...
No areas of expertise