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0023 GMT - While Credit Suisse last week crowed about the strongest earnings season in 7 years for Australia, Macquarie calls it solid but far from spectacular. The investment bank, which says earnings improved at a slower rate than anticipated, did come as profit beats outweighed misses while there were few signs of deterioration in earnings quality. But Macquarie also flags significant cuts to projected FY profit growth among industrials due to some hefty 1H misses. That as few new cost-cutting initiatives were announced. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
March 05, 2017 19:23 ET (00:23 GMT)
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