At its heart, the biannual ASX profit reporting season that comes to a close on Friday is an exercise in story telling.
Yes, the profit numbers that chief executives dutifully deliver are important. But what investors are looking for is a story about where the company is heading. Is it in a period of growth, consolidation or turnaround? How is it adapting to the conditions in the sectors and economies it operates in? Will the company be in a better or worse position in a year’s time?
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