Motley Fool Australia

Motley Fool Australia

Since 1993, millions of investors have trusted The Motley Fool for simple, down-to-earth investing research.

Market down on poor earnings results

The market has been rocked early by the release of disappointing earnings results from blue chip companies including Coca-Cola Amatil (ASX: CCL) and QBE Insurance (ASX: QBE), with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down over 50 index points.

Coca-Cola this morning announced a 6.9% fall in earnings before interest and tax (EBIT) – which was marginally better than originally anticipated – whilst QBE announced a 37% drop in first-half profit. The results have sent CCL shares down by 4.2% and QBE’s shares plunged by 8.2%.

Ansell (ASX: ANN), on the other hand, delivered EBIT growth of 11% and sales growth of 9% for the full year to June 30. Sydney Airport (ASX: SYD) and Arrium (ASX: ARI) (formerly OneSteel) are also releasing results today, but the one the market will be waiting for is that of BHP Billiton (ASX: BHP).

It is currently anticipated that the miner will deliver a profit loss of 26% due to diminishing growth in China and deflated commodity prices.

Are you interested in our #1 dividend-paying stock? Discover The Motley Fool’s favourite income idea for 2013-2014 in our brand-new, FREE research report, including a full investment analysis! Simply click here for your FREE copy of “The Motley Fool’s Top Dividend Stock for 2013-2014.”

More reading


Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned in this article.

Hot off the presses! This sexy tech stock is our #1 pick for 2015…

Every year, The Motley Fool’s top analysts hand-pick one company as their ‘best bet’ for big returns in 2015 and beyond… And you can be among the first to discover their brand-new 2015 pick!

Discover this sexy yet well-run ASX tech company, including the name and code, for FREE right now. Click here for your copy of "The Motley Fool’s Top Stock for 2015".

See all posts by Ryan Newman
The Motley Fool