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According to the statistics provided by Australian Bureau of Statistics (ABS), seasonally adjusted employment rose by 114,700 people between June & July, and hours worked increased by 1.3%. The statistics of July suggest that employment had recovered by 343,000 persons and hours worked had also improved 5.5% since May. Moreover, the participation rate rose by 0.6% points in July, and the unemployment rate climbed marginally to 7.5%.
Residential and business power provider AGL Energy has posted a 22 per cent plunge in underlying profit and flagged an even lower result for 2020-21. The company reported underlying profit for the 2019-20 financial year of $816 million, which was within its guidance range, and forecast a fall to between $560 million and $660 million for the current financial year. That’s after an expected net benefit of up to $100 million in insurance proceeds related to the months-long outage of Unit 2 at the Loy Yang power station in Victoria, which was sparked in May last year by an electrical short inside the generator. Shares in AGL were down more than 10 per cent at $15.22 in late-morning trade.
The country’s largest telco Telstra posted a net profit of $1.8 billion for the 12 months ending June 30, a 15.6 per cent decline compared with the 2019 financial year. The company’s reported earnings before tax and interest was $8.9 billion, a 0.3 per cent decrease on a like-for-like adjusted basis. Telstra has also issued a final dividend of eight cents per share, bringing its total dividend payout to 16 cents per share. Total income for the 2020 financial year fell 5.9 per cent to $26.2 billion, while overall mobile revenue declined $461 million over the 12 months.
#Australia #Employment #Telstra #Kalkine
