30 August 2008
Reporting season
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The reporting season for most of Australia's listed companies has come to a close, and the final day proved pretty grim for many investors.
One time sharemarket darlings Centro Property and Allco Finance declared annual losses of 2 billion and 1.7 billion respectively and the immediate future of both companies remains in doubt.
ABC Learning was to have reported yesterday but didn't; the missed deadline putting the company in breach of ASX rules.
But those results also served to highlight what a terrific year many other businesses have enjoyed -- albeit in a pretty tough credit environment.
BHP, Commonwealth Bank and Woolworths all reported very strong figures; in fact Woolies posted a stellar 26% rise in annual profit to 1.63 billion dollars.
So what do we make of these contrasting fortunes?
To borrow from a new but already well worn phrase, it's been something of a two speed reporting season.
Guests
Robert Gottliebsen
Senior columnist, Business Spectator
Further Information
Story Researcher and Producer
Scott Wales
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