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Contradictory forces at play leading into August reporting season

As we enter Australia's bi-annual reporting season, we have looked at the forces shaping the market’s early expectations for Australian company earnings and outlooks.

Date published
2 Aug 2023
Reece Birtles, CFA Chief Investment Officer, Australia

REPORTING SEASON WRAP: Surviving the profit downturn

As we enter this contractionary economic environment, it is critical for investors to be discerning in their stock picking. The Australian reporting season will help reveal critical signals and fundamental information to provide the clues all investors need to position their portfolios to be resilient to headwinds. For active investors like Martin Currie Australia (MCA), these periods are extremely significant in shaping assessments of forward-looking value and sustainable dividends for Australian companies.

Register here for an exclusive Reporting Season Wrap webinar on Tuesday, 5 September at 11am. The discussion will cover the major themes and drivers affecting company results, and MCA’s outlook for what it all means for investors in Australian Equities.

In late September, we will also publish our semi-annual Reporting Season Wrap, which will bring together our full statistical framework, and key fundamental views and insights from company engagement.

  • The August results will likely be dominated by cautious views on the consumer, costs and future EPS guidance, rather than any significant jubilation for the robust earnings delivered in the last six months.