Why do companies report twice a year?
ASX-listed companies must report their financial results to shareholders at least twice a year, within two months of the end of their balance sheet date.
As most companies have balance sheet dates of June 30, the main reporting season takes place in August when companies release their full-year results. Half-year results are released in February.
However, not all companies report during these periods as not all have end of June balance sheet dates.
Some of these are large and well-known companies, including three of the four major banks. National Australia Bank, ANZ Banking Group and Westpac all have 30 September balance sheet dates and usually report in November.
What information is released?
Most companies release several documents to help shareholders and analysts in their assessment of information.
The main document is the statutory result, often called the ‘preliminary final report’. Some companies release their annual report at the same time.
There is also a ‘results presentation’, sometimes accompanied by a real-life management presentation or conference call for analysts.