In this video, Dan Moradi, Portfolio Manager for Listed Products, provides an update on the Australian equity market following an interesting August reporting season and takes an in-depth look at how sectors and companies performed.
Similar to FY21, this year we had a challenging backdrop heading into the second half of the year, with the ongoing business disruptions caused by Covid, particularly with the Omicron wave that surged around Christmas. But given these challenges, what we saw during the reporting season from company results was pleasing, reflecting a stable operating environment and demonstrating that the underlying fundamentals of our domestic market remains strong despite the ongoing market volatility. Labour costs, labour constraints, price rises, and inventory management dominated discussions and outlook statements over the reporting period. To-date the market seems to be navigating these headwinds relatively well and we’ve seen many companies passing on the additional costs to end consumers to protect their profit margins.
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