The ASX’s coal, oil and gas producers are on the cusp of reporting exceptional results in the annual profit season kicking off this week, drawing a line under a volatile year for the sharemarket as it faces a slowdown in growth.
P/ASX 200 is set to bank earnings per share growth of 21 per cent for financial 2022, decelerating from theResource sector earnings will swell by 33.7 per cent, according to Citi forecasts, which also tip market-wide dividends to grow by 5 per cent.
Whitehaven Coal stands to earn $3 billion when it reports full-year results on August 25; it achieved record average coal prices of $514 a tonne in the June quarter. , their downturn in fortunes is barely perceptible from a profit perspective given the sector's record of losses. However, if you look at the forward indicators – business confidence, consumer sentiment – they’re rolling over, so it’s going to be a more challenging environment from here.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A broken Voice is no option: Australia’s moment to unite or failOn Saturday, the prime minister unveils his plans for a referendum for an Indigenous Voice to parliament. The stakes could not be higher.
Read more »
Coleen Rooney not seeking compensation after ‘Wagatha Christie’ verdictLawyer says client ‘glad it’s over’ as Rebekah Vardy faces considerable bill after high court judgment
Read more »
Coleen Rooney not seeking compensation after ‘Wagatha Christie’ verdictLawyer says client ‘glad it’s over’ as Rebekah Vardy faces considerable bill after high court judgment
Read more »
Tech giants power Wall Street rally with blowout profitsWall Street is wrapping up a chaotic week with solid earnings from megacaps bringing solace to traders worried about the many cross-currents rattling economies around the globe.
Read more »
Steep interest rate increases set to help, then hinder, banksCommonwealth Bank of Australia will reveal the impact of the RBA’s rate tightening on Q4 earnings, but analysts are warning the bad debt cycle will turn.
Read more »
Higher debt costs eat into REIT earnings: BarrenjoeyThe average cost of debt for major property stocks could rise to between 4 and 5 per cent from about 3 per cent, putting a brake on growth in earnings and distributions.
Read more »