Australia

Details

  • Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards, Accounting Advisory Services
  • Industry: Energy & Natural Resources, Financial Services
  • Type: Survey report
  • Date: 4/11/2013

ASX50 financial reporting insights

Analysis of the financial results of the top 50 companies listed on the Australian Securities Exchange (ASX).

ASX50 financial reporting insights: January-June 2013 

KPMG has analysed the financial reports of the top 50 companies listed on the Australian Securities Exchange (ASX50) through the reporting season (1 January 2013 to 30 June 2013).
ASX50 financial reporting insights cover
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The report provides review and analysis of:

  • 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.

 

Key insights

  • Statutory profits for the miners are significantly down from the peak of the mining boom in 2011, which reflects both a difficult pricing.
  • The banks continue to demonstrate steady growth in statutory profit before tax and cash earnings (a non-statutory measure).
  • The non-bank, non-miners have recorded modest growth in statutory profits despite the highest level of impairments since 2009.
 

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