Westpac Shares Drop as Profit Slips, Margin Concern Flagged
(Bloomberg) — Westpac Banking Corp.’s shares declined as much as 6% after profit and margins slipped and Chief Executive Officer Anthony Miller said the high cost of living in the Australian economy continues to bite into customers’ spending power. Unaudited net profit for the three months ended Dec. 31 came in at A$1.7 billion ($1.1 … Read more