The report provides review and analysis of:
- the financial performance of the ASX50 group of companies as an indicator of the economy in general
- trends by industry sector, with specific focus on the contribution of mining companies and the 'Big 4' banks
- profits reported under statutory and non-statutory (underlying/non-conforming) measures
- operating cash flow, revenue, impairment and gearing results.
- The mining sector has reported reduced revenues, operating cash flows and underlying profits in an environment of generally lower commodity prices.
- The non-bank, non-miners have achieved their highest revenue and statutory profit in the surveyed period and have increased operating cash flows over the past two 6 month periods.
- Impairment charges for the 6 month period have increased by 40 percent. Rio Tinto and BHP Billiton reported 62 percent of the $38 billion in impairment charges recorded by the ASX50 in the year to December 2012.