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.
[AI generated]
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.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Explore the markets with our free course
Discover the range of markets you can trade CFDs on - and learn how they work - with IG Academy's online course.
Turn knowledge into success
Practice makes perfect. Take what you’ve learned in this shares strategy article, and try it out in your demo account.
Ready to trade shares?
Put the lessons in this article to use in a live account. Upgrading is quick and simple.
- Trade over 13,000 popular global stocks
- Protect your capital with risk management tools
- Deal on 70 key US stocks out-of-hours, so you can react to news
Inspired to trade?
Put the knowledge you’ve gained from this article into practice. Log in to your account now.
Live prices on most popular markets
- Forex
- Shares
- Indices
