AU market earnings: CBA reports $9.8 billion profit as AGL triples earnings
Commonwealth Bank posted a $9.8 billion profit, slightly down from last year but surpassing expectations. AGL Energy nearly tripled its profit to $711 million, driven by high electricity prices and demand.
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This video was created on 14 August for IG audiences by ausbiz.
Commonwealth Bank and AGL Energy lead with strong financial results
In today’s reporting season spotlight, Commonwealth Bank of Australia (CBA) reported a $9.8 billion cash profit for the full year, outperforming market expectations despite a 2% decline from the previous year. The bank announced a dividend of $2.50 per share, bringing the full-year payout to $4.65.
AGL Energy delivered an impressive performance, tripling its annual profit to $711 million, driven by high electricity prices and increased consumer demand. Seven Group also posted solid earnings growth, with a 14% rise in full-year profit to $1.93 billion, supported by strong performances at Boral, Westray, and Coats.
The outlook for these companies remains positive, with continued growth expected in the coming year.
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