WELLINGTON: Shares of Australia and New Zealand Banking Group (ASX: ANZ) have traded largely flat today despite the $84 billion bank announcing a healthy uptick in profit.
In the nine months to 30 June 2015, ANZ produced a cash profit of $5.4 billion, up 4% on the prior corresponding period, and a statutory profit of $5.58 billion, up 11%.
Cash profit is the preferred measure of profitability since it excludes non-core items to arrive at a result more indicative of the actual business’ operating profit.
