Profit growth outlook remains strong

The biggest stories of the December quarter for Australian and New Zealand investors were the continued strength of global equity markets and the Australian dollar. Unfortunately for Australian and New Zealand investors, the combination of these factors has left the domestic equity markets as the only real avenue for strong returns. The 12-month return to December on the Australian Market has been 15% (Aust S&P/ASX 300) while the New Zealand market was up a respectable 18% (NZSEALL - All Capital Index). These factors have conspired to produce spectacular returns for offshore investors wi...