What we learnt: Westpac, Ampol, NIB, Breville

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Ampol gets some feedback on its retail plans, Westpac’s costs rise, Breville toasts its inventory, and we meet America’s mortgage prisoners.

Chanticleer columnists James Thomson and Anthony Macdonald extract the gold from the key profit results.: We’ve listened to plenty of analyst calls now, and they’re very polite. There are a lot of “congratulations on a strong result” type of comments from analysts, and a lot of their questions are around nit-picking on numbers to get their next set of forecasts right.’s call.

Westpac blamed the growth on a grab bag of inflationary pressures “including higher supplier costs, wages and salaries, and investment in the group’s technology and customer simplification agenda”. Chief executive Peter King is committed to taking costs out but ironically, that will come with one-off costs, too.

 

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ASX 200 LIVE: Shares to fall; BlueScope commits to $1.15b upgrade; Ampol cuts dividendShares set to open lower; BlueScope signs off on Port Kembla blast furnace; Westpac’s core net interest margin falls to 1.86 per cent; Ampol will pay a 95¢ interim dividend; Chorus profits slump. Follow updates here.
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