AU market earnings: profit surge for Fortescue, Woolworths, & Flight Centre
Fortescue Metals reports a $5.7 billion profit driven by fiscal discipline, Woolworths posts a $1.7 billion profit, and Flight Centre achieves a 194% profit jump.
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This video was created on 29 August for IG audiences by ausbiz.
Reporting season highlights
Fortescue Metals Group reported a USD$5.7 billion profit, up 3% from last year, driven by fiscal discipline and energy projects. The final dividend is $0.89 per share, totalling $1.97 for FY24. The company projects capital expenditure between USD$3.2 billion and USD$3.8 billion next year.
Woolworths saw a 10.6% increase in full-year profit to AUD$1.7 billion, despite a significant impairment on its New Zealand business. The retailer declared a $0.40 special dividend and a $0.57 final dividend, with revenue up 5.5% to nearly AUD$68 million.
Flight Centre reported a 194% surge in profit to AUD$139 million, surpassing pre-COVID levels. Revenue grew by 19% to AUD$2.7 billion, with a fully franked $0.30 per share dividend declared.
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