ANZ lets slip on likely A$7.1 billion profit

ANZ inadvertently revealed details of half-on-half movements in its cash profit in a financial reporting template it issued for analysts and fund managers last Friday. The upshot is that the market is now aware that ANZ will report a cash profit of A$7.1 billion on Friday.

The template included the percentage change in cash profit  for each division and geographic region, after adjusting for foreign exchange movements.

The template showed ANZ's FX-adjusted cash profit rose three per cent in the September half, after a $3.5 billion result in the March half.

ANZ called a trading halt yesterday afternoon and then released a clarification, saying the template showed "partial analytical data only".

It is an embarrassment for the bank, with most media outlets today publishing a figure very close to the cash profit it will report at the end of the week.

The disclosure suggests that ANZ's Australian division increased earnings by six per cent, while institutional and international banking was down one per cent and New Zealand was down four per cent.