ANZ: Q3 Result 2014

ANZ’s share price fell slightly after recently announcing its unaudited results for the nine months to 30 June (ANZ has a 30 September year end). Growth slowed to 8% for a cash profit of $5.2bn, compared to growth of 11% at the half-year. Excluding currency movements growth was only 6%. The result was consistent with those of rival Commonwealth Bank (see Commonwealth Bank: Result 2014 from 13 Aug 14 (Hold – $81.05)) and several retailers, reflecting a lethargic economy that might slow further over the next couple of years as Australia’s massive resources and energy developments are completed. Bank...

ANZ’s share price fell slightly after recently announcing its unaudited results for the nine months to 30 June (ANZ has a 30 September year end). Growth slowed to 8% for a cash profit of $5.2bn, compared to growth of 11% at the half-year. Excluding currency movements growth was only 6%.

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