Reporting season is upon us and most analysts are expecting it to be a good one. It’s that time of the year when every ASX listed company releases their FY profit result. Most report their earnings as at 30 June (full year) and 31 December (interim). So this time around most companies will be posting their FY results. Reporting season takes place during the month of August and this year will be driven by strong global equity markets. Every week we will give a short summary of the companies that reported. Credit Corp (CCP) – NPAT rose 17% to $64.3m versus a consensus forecast of $71m. Guidance impressed. Increased earnings from the US debt buying and consumer lending businesses are expected to drive solid profit growth in 2019 in the range of 4% to 7%. PDL investment guidance in the range of $150 to $170 million. Rio Tinto (RIO) – A disappointing result. Underlying earnings have come in at US$9.19bn which was lower than an expected US$9.6bn. Dividend was US$1.27 compared to US$1.41. Iron ore was quite strong, so it looks like it was the aluminium division that was weak. A $1bn buyback was short of what the market was expecting. AMP has posted an underlying NPAT of $495m down 7% and higher than a Bloomberg consensus forecast of $487m. The wealth management firm has vowed to defend five class actions it has against its name. Earnings and inflows were hurt by these scandals resulting in remediation provisions and costs that dragged down the bottom line. Earnings also fell in its New Zealand financial services division. Last month, AMP provided guidance that underlying profit would print at $490m to $500m for the six months ended June 30. Here are dot points from the result: 1H underlying profit of $495m Strong growth in AMP Bank with earnings up 20% on 1H 17. Continued momentum…

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