AU market earnings: CSL leads with strong earnings amid market volatility, Temple and Webster and Netwealth also shine
CSL reports a 20% profit surge while Temple and Webster enjoy a revenue jump and Netwealth boasts a significant profit increase. Seek, however, faces downturns, highlighting the mixed economic signals.
[AI generated]
This video was created on 13 August for IG audiences by ausbiz.
Diverse financial performances highlight market resilience and challenges
In the latest financial reporting season, CSL highlighted a significant 20% rise in annual profit, driven by robust performance in its blood plasma sector, forecasting a 10-13% earnings increase for FY25. In contrast, Temple and Webster reported a 26% revenue jump to $498 million, thanks to high repeat customer orders and an expansion in private label ranges.
Meanwhile, Seek experienced a downturn, reporting a net loss of nearly $60 million, a stark contrast to the previous year’s $230 million profit, attributing the decline to slower economic conditions. Netwealth, however, reported a 24% profit increase to $83.4 million and a notable 25% growth in funds under management, indicating strong financial health and growth potential. Additionally, brokerage updates revealed upgraded price targets for JB Hi-Fi, while Verizon faced downgrades after disappointing FY24 results.
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
