Aussie shares lost ground Thursday as disappointing earnings reports on the busiest reporting day of the year prompted a sell-off by investors. Resources led the slide, while property trusts continued to rally.  

All Ords lost 6.3 to 4,458.1, while the ASX/200 eased 3.7 to 4,450.8. Over 3 billion shares, or $5.8 billion had changed hands. 

The Materials and Resources sector shed 1.2% following a retreat in the price of base metals in London overnight. Heavyweights BHP Billiton and Rio Tinto lost 1.3% and 3% respectively.

OZ Minerals was 6.1% cheaper after the gold and copper miner slumped to a more than half a billion dollar loss for the year.

Macarthur Coal slumped 9.4%, while Gloucester Coal eased a modest 0.3% higher despite its profit nearly tripling on strong demand for its thermal coal.

Steelmakers Onesteel and Bluescope lost 4.2% and 3% respectively.

Sino Gold spiked 12.2% following a takeover bid, while fellow gold miner Newcrest climbed 2.1%.

Fortescue was unmoved, while Boral jumped 3.2%. Agrichemical company Nufarm surged 6.3%.

The Banks and Financials rose 0.7% on strength from the big four banks. ANZ and Westpac put on 1.8% and 1.5%, while NAB added 1.1%. CBA edged 0.3% above the line.

Suncorp-Metway was the only major insurer to rise, up 2.3%. Its peers were below the line.

Macquarie Group was flat, while bourse operator ASX sank 3.4%.

Property Trusts maintained momentum from yesterday’s 4.6% spike, adding another 1.2%.

Westfield dipped 0.9%, while Mirvac, GPT and Stockland climbed 7.5%, 3.5% and 2.4% respectively.

Energy stocks retreated 0.1% as the price of oil lost ground in New York overnight. Woodside, Santos and Oil Search gained 1.2%, 0.6% and 0.3%.

Origin Energy shed 1.3%. Uranium specialist Paladin Energy retreated 2.6%.

Consumer Staples was down 0.1%. Sector major Woolworths added 0.3%. The retailer this morning reported a profit of $1.8 billion for the year, up nearly 13%. The company recorded sales of nearly $1 billion per week.

Rival Wesfarmers, which owns Coles, gave up 0.7% while Fosters lost 1.6%.

Consumer Discretionary lost 0.5% as key gamers reported earnings. Crown posted a loss of over $1 billion after virtually writing off the value of their US casinos. Crown rallied 2%.

Tatts lost 3.8% despite posting a growth in profit to $277.4 million.

Retailers were largely flat. Billabong and David Jones slid 0.6% and 0.4%, while Warehouse Group put on 1.2%.

Newscorp rose 1%, while Consolidated Media lost 2.1% the day after rising around 10%.

Industrials were mixed as investors focused on individual earnings across the sector. Overall the sector gained 0.4%. Airliners were busy with Virgin Blue swinging to a $160 million loss for the year. Its shares closed flat.

Air New Zealand eased 1% lower after just scraping into a positive profit for the year. Qantas lost 2.2%.

Leightons and Brambles fell 1.9% and 0.8% respectively.

Meanwhile, Toll and Asciano rose 5.7% and 2.3%.

Cabcharge spiked 11% after net profit came in 4% higher at a tick over $61 million.

Healthcare added 0.4%. Ramsay Healthcare was halted after announcing a $260 million capital raising, despite posting a 15% rise in profit to $106 million.

CSL added 0.4%.

Telstra lost 0.6%, with the Telecommunications sector off 0.7%. 

Utilities retreated 0.5%. AGL Energy rose 0.9%.

Around the region the Nikkei 225 lost 165.7 to 10,474.0, the Straits Times Index slid 1.5 to 2,627.0 and NZSE50 dropped 14.5 to 3,076.4. The Hang Seng shed 258.3 to 20,198.0.

Spot gold was trading at US$944.82 per ounce and the Aussie was buying US$0.8274.

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Toll delivers $270.3m profit
Toll Holdings posted a net profit of $270.3 million, up substantially on the $694.7 million loss recorded a year earlier. The transport and logistics provider said revenue rose from $5.6 billion in FY08 to $6.5 billion for the year to 30 June 2009.

At the end of the day, Toll shares were up 41c to $7.60.  

Village profit slumps 95%
Village Roadshow posted a 95% slump in profit to $12.6 million for the year to 30 June 2009, down from $256.9 million in the prior year. The international entertainment and media company said the results were hit by writedowns, while the previous year’s result included $181.6 million from part divestment, and subsequent de-consolidation of the Group’s Investment in the Film Production and Music division.

By the finish, Village shares were down 5.5c to $1.205.

Woolworths profit climbs 13%, positive outlook
Woolworths reported a net profit to $1.835bn for the year ended 28 June, up a 12.8% from the prior year. The diversified retailer sold almost $1 billion worth of goods a week as solid growth was recorded across all key financial measures.

At the close, Woolworths shares were up 8c to $28.78. 

OZ Minerals delivers $585.6m half year loss
OZ Minerals reported a net loss of $585.6 million for the six months to 30 June 2009. The copper and gold miner said its profit was impacted by a $553.9 million loss on the sale of assets to Minmetals, combined with costs associated with refinancing and transaction costs.

At the final bell, OZ Minerals shares were down 7c to $1.08.

US casinos weigh Crown down
Crown reported a loss of $1.19 billion for the year to 30 June 2009 as the company’s ill-fated venture in the US casino market wiped $971 million from the company’s bottom line. The company said it would refocus its efforts in the current year towards its Australian casino’s and joint venture in Macau.

By the finish, Crown shares were up 16c to $8.15. 

Tatts profit up but tough times ahead
Tatts Group delivered a NPAT of $277.4m for FY09, up 7.7% on the previous corresponding period. The gamer said the result was the case of most businesses in the portfolio improving while a couple struggled.

At the bell, Tatts shares were down 10c to $2.51. 

Ramsay profit up, announces equity raising
Ramsay Health Care delivered a full-year NPAT of $106.4m, up 15.5% on the previous years $92.2m profit. The private hospital operator was also placed in trading halt due to the announcement of a $260 million capital raising.

Ramsay shares were halted at $10.79.

Virgin Blue swings to a loss
Virgin Blue reported a loss of $160m for the year ended 30 June 2009, from a $98m profit the year before. The airline said in the current year it would break even as the cost-savings initiatives in place positioned the company well.

At the finish, Virgin Blue shares were down unchanged at 35c.

Air New Zealand sees turbulence ahead
Air New Zealand reported a full year net profit of NZ$21 million, down 90% on the prior period. The company said its current operating environment was likely to remain turbulent.

At the end, Air New Zealand shares were down 1c to $1.01.

Gloucester Coal posts record profit
Gloucester Coal reported a record full year net profit after tax of $81.7 million, up from $23.4 million last year. Looking ahead, the Gloucester Coal said its expansion to an annual production of 2.8 million tonnes was on track and on budget.

At midday, Gloucester Coal shares were up 2c to $6.23.

Kingsgate posts $33m profit
Kingsgate Consolidated reported a net profit after tax of $33 million or 35c earnings per share. The gold producer noted that the 2009 profit compares favourably with the 2008 profit of $36 million, which was inflated by a one-off asset sale of $44 million.

By the finish, Kingsgate shares were up 25c to $6.87.

FKP Property takes impairments hit
FKP Property Group reported a full year statutory loss of $319m after incurring second-half pre-tax impairments of $269.4m. Net operating profit was $78.6 million, in line with guidance but below last year’s $150.2 million.

At the finish, FKP shares were up 6.5c to 65.5c.

Cabcharge expects growth in FY10
Cabcharge increased its net profit by 4% in FY09 to $61.4m. The company said it expects further growth in the coming year.

By the close, Cabcharge shares were up 59c to $5.94. 

Country Road profits spikes 60%
Country Road reported a $15.6m profit for the year to 30 June 2009, up 60.4% from the prior year. On the same day the company announced that CEO Ian Moir would step down from his role at the end of the year.

At the finish, Country Road shares were unchanged at $3.25. 

Super Cheap Auto reports 25% profit lift
Super Cheap Auto Group reporting a 25% increase in net profit after tax to $32.1 million in FY09. The company added that the new financial year had already started well.

At the final whistle, Super Cheap Auto shares were up 12c to $4.62.