Virgin Australia posted an underlying loss before tax of $3.7 million and a net loss after one-off items was $185.8 million. However, it says a pickup in domestic conditions have seen underlying earnings in the final three months of 2016/17 up $38.4 million from a year ago.
AGL swung back into the black, posting a full-year net profit of $539 million, compared to its previous year’s $408 million loss which was hit by significant items and fair-value movements. AGL’s underlying profit for the year to June 30, which excludes significant items, was up 14.4 per cent to $802 million. Its revenue grew 12.9 per cent to $12.6 billion.
AMP’s first-half net profit fell 15 per cent to $445 million.
Global fund manager Magellan Financial Group posted a 1 per cent fall in net profit to $196.2 million.
Packaging company Orora, which was spun out of Amcor, lifted its annual full-year profit by 1.5 per cent to $171.1 million.
Cadence Capital posted a full year profit after tax of $37 million, up 220 per cent.