This season was not one that banks will be crowing about – all experienced a fall in profits and the themes were remarkably similar.
The country’s biggest bank has reported its net profit slid by 3 per cent as CEO Matt Comyn said the strong immigration rate was helping the Australian economy remain resilient.
ANZ chief executive Shayne Elliott said there were “very real stresses” in the economy,but that much of it was outside the banking system.
Westpac boss Peter King says the economy is on track for a soft landing,even as customer stress has ticked up,and the bank posted a drop in profits.
Many of the investment behemoth’s top executives have had their pay cut by millions as green investments and lower commodity prices weighed on fiscal 2024 profits.
Chief executive Andrew Irvine reported a 13 per cent tumble in half-year profits,but said households were mostly proving resilient in the cost-of-living crisis.
The social media giant increased its spending estimates for the year,once again raising questions about whether its futuristic technological bets will eventually pay off.
The popular stationery and sleepwear brands are set to be spun out of Premier Investment’s stable of brands next year.
Chemist Warehouse has provided a rare glimpse of its financial figures as it gears up for a blockbuster ASX listing via a merger with Sigma Healthcare.
Our online shopping habit is keeping Australia Post alive,but more post offices are set to close,CEO Paul Graham said.
The febrile hunt for profiteers in the midst of a cost-of-living crisis meant Australia’s largest companies had to worry about the potentially disastrous consequences of doing too well.