Westpac results - No surprises here

Westpac today rounds off the full year results after ANZ and NAB last week.

• Cash earnings $7.82 billion up 3%
• Final dividend 94c per share fully franked
• Return on equity 15.8% down 57 basis points

No surprises as most of the results were released two weeks ago when it announced the equity raising.

On Friday we had a look at how the share prices of ANZ and NAB were responding to their respective results.  They each lost 2% on the day the results were announced and then had steeper falls the following day.  And today Westpac is following the same formula being down 2%.  Maybe some steeper falls tomorrow?


Despite this, their shares are still trading comfortably above the retail entitlement offer price of $25.50.

Final musing:  Return on equity may be down a bit but 15.8% is still pretty healthy.