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1.Market Observations, 8.Was Sticky

28 Aug 2015 (AFR) – Three lessons from profit-reporting season

(28 August 2015, AFR, p40, by Tony Boyd, Chanticleer)

‘…The latest barometer of the health of the publicly listed corporate sector shows companies struggling for decent top-line growth. This is evident in the reported revenue numbers for the year just ended, the outlook statements from chief executives and the estimates of analysts.’ <snipped…>

‘Chanticleer picked these themes following a discussion with Citi equity strategist Tony Brennan, who bases his views on the 150 Australian companies the Citi team of analysts cover. As of Thursday morning, 115 of the 150 companies had reported. These stocks accounted for about 90 per cent of the market capitalisation in Australia. Companies to have already reported had sales of $281 billion, earnings before interest and tax of $45 billion, net profits of $29.8 billion and earnings per share of $3 billion. It says a lot about the state of the corporate sector that the profit numbers were between 5.5 per cent and 6.5 per cent less than the analysts’ forecasts.’

Read the complete story, and Chanticleer’s comments, at AFR.com (might need AFR login access)

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