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.
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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.
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