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Macquarie Equity Research reporting season wrap - Finally growth is emerging from the shadows

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Macquarie Equity Research reporting season wrap - Finally growth is emerging from the shadows. This reporting season confirmed a positive earnings momentum & critically, FY14 remains on track to deliver a 2nd consecutive year of stronger EPS growth. Market FY14 EPS growth of +13.1% is little changed from the pre-reporting season forecast but a widening of growth between stocks was a key takeaway. Stocks notable were those with strong EPSg delivered many with upgrades BUT PE's lower or unchanged CPU CSL FMG AZJ BXB ALL TCL SPN SHL.

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