Earnings reports: Stockland, CSL, Sonic Healthcare, Primary Health Care & QBE Insurance

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Stockland (SGP) posted an 8.5% lift in FY underlying profit to $660m, in-line with consensus. The result was driven by solid performances across all business units – Commercial, Residential and Retirement: Blood products group CSL has reported an 11% decline in FY Net Profit after Tax to US$1,242m. The biotech delivered a strong performance across its traditional businesses, however losses associated with acquisitions weighed on the overall result: Medical diagnostic firm, Sonic Healthcare Limited (SHL) reported a 20% lift in full year revenue to $5.1 billion. Sonic’s net profit also increased by 30% meeting company guidance: Primary Health Care (PRY) delivered a $104m underlying profit for the 12 months to 30 June 2016. The result was in-line with consensus after pre-releasing the numbers in an update last month: QBE Insurance (QBE) reported a fall in gross written premiums and profit for 1H 2016. Like many other finance firms, it has been hit by increased competition and tough trading conditions in the new global environment of low interest rates: For more Reporting Season coverage: (VIEW LINK)


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CommSec
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