ANZ's 1H Results Disappoint, But Signal Easing Margin Pressure -- Market Talk

Dow Jones05-07

0052 GMT - ANZ's 1H FY 2024 results were slightly disappointing given elevated expectations from the market after peers' results, say Jarden analysts Carlos Cacho and Jeff Cai in a note. While cash profit, for example, was in line with expectations, the result was driven by materially lower bad and doubtful debts, as opposed to other levers that may be viewed more favorably. There was also a headline miss on margins, but the ex-markets result of 1.63% was broadly in line or slightly better than consensus views. "That said, the result largely confirms our expectations of moderating margin pressure and benign credit conditions continuing," says Jarden. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

May 06, 2024 20:52 ET (00:52 GMT)

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