Confession season intensifies as earnings growth slows

Australian Financial Review, 12 May 2008, Michael Smith, p.1

Brokerage and fund managers have warned of more corporate confessions’ in the coming reporting season, in the wake of earnings downgrades at more than 100 companies. Deutsche Bank said consensus estimates for S&P/ASX100 companies, excluding banks and resources groups, suggested earnings growth of an average 6 percent earnings-per-share at the beginning of 2007-08, have lowered their forecast to a zero average.