Woolies soars on $2bn profit, buyback

omss, this is your Australian Business update for Thu Aug 26 12:58:29 EST 2010
	Woolies soars on $2bn profit, buyback UPDATE: Cynthia Koons WOOLWORTHS posted a 10.1 per cent rise in full-year net profit today and flagged further similar earnings growth in 2010-11.   Fortescue profit trumps expectations Ray Brindal FORTESCUE Metals Group posted a better-than-expected a 14 per cent rise in full-year profit today, thanks to strong demand for its iron ore.   Santos profit beats market forecast Ross Kelly SANTOS today posted a 94 per cent rise in first-half profit underpinned by higher oil and gas prices and lower tax and interest costs.   Toll shares rally on upbeat outlook UPDATE: Bill Lindsay NET profit at Toll Holdings rose 3 per cent on better margins, and the company said it was well placed to gain from an economic uptick.   Storms damage IAG bottom line Lyndal McFarland STORMS in Melbourne and Perth, coupled with losses by its UK division, have damaged Insurance Australia Group's bottom line.   Virgin trims V Australia routes UPDATE: Steve Creedy, Aviation writer VIRGIN Blue Group will pull V Australia out of South Africa and Phuket and introduce new widebody Airbus A330s on its domestic services.   AGL underlying profit on target Ross Kelly  AGL Energy reported an expected 13 per cent rise in annual underlying profit today.   Alcan costs weigh on Amcor profit UPDATE: Geoffrey Rogow AMCOR posted a 13.6 per cent drop in full-year net profit, hurt by costs associated with its purchase of the Alcan packaging business.   Financial Markets Banks keep sharemarket buoyant THE Australian sharemarket was in positive territory by early afternoon, with gains in the banking sector offsetting weak miners.   Wall St snaps four-day losing streak Suncorp chief's call for clarity   Financial Markets Coverage   Mining & Energy Fortescue profit trumps expectations Ray Brindal FORTESCUE Metals Group posted a better-than-expected a 14 per cent rise in full-year profit today, thanks to strong demand for its iron ore.   Potash Corp not on Rio radar, says UBS Iluka narrows first-half loss to $6.6m   More Mining & Energy Coverage		12:52pm Virgin Blue expects Delta proposal soon 12:49pm Weak investment to sideline RBA 12:47pm Dollar steady after dip on Capex figures 12:44pm Positive tone at ASX 12:44pm Noon shares up on bank gains 12:34pm Banks keep sharemarket buoyant 12:34pm Mining tax debate 'delayed investments' 12:29pm Fortescue profit rises to $657m 12:24pm Alcan costs weigh on Amcor profit 12:21pm Crown doubles profit, shares up 2pc 12:16pm Woolies soars on $2bn profit, buyback 12:11pm Woolies forecast a standout 12:07pm Fortescue profit trumps expectations 12:00pm Nuplex 2010 Full Year Results Pre... 12:00pm Western Tanami Resource Increases...   More Business Breaking News
	John Durie Woolies forecast a standout MICHAEL "Mr Decks" Luscombe delivered a shareholder-friendly result with one of the brighter profit forecasts for the season. Tim Boreham Positive tone at ASX TODAY is another monstrous day for reporting companies, and this batch points to a solid tone on earnings and progress on strategy. More Opinion Stories
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