Economics & Markets

Australian Earnings Results Mixed

By AMP Capital

Australian earnings season has finished and the outcome was less positive that expected, according to AMP Capital Head of Investment Strategy and Chief Economist, Shane Oliver

“It was a bit disappointing,” says Oliver. “Yes profits were up for the first time in a few years and that’s a good sign. The downside though was that it was narrowly focussed on the resources sector.

“There were more downside surprise than normal. Companies exposed to the consumer, companies exposed to insurance all coming in weaker than expected.”

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While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455)  (AMP Capital) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided and must not be provided to any other person or entity without the express written consent of AMP Capital.

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