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ANZ shares halted from trade after error

ANZ Bank’s spin squad was in damage control after the corporate giant revealed that it had inadvertently revealed details of the group’s full-year profit result.

On October 23, the company posted a spreadsheet on its website that was only meant to show the format in which the company was to present its profit result later this week.

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While this is standard practice for locally-listed banks, the spreadsheet also included details of the percentage movements for the group’s second-half result compared to the first-half profit.

ANZ reported a first-half cash profit of $3.506 billion this year and the spreadsheet showed that it had risen three per cent in the second half.

The disclosure indicates that the cash profit for 2014 was $7.117 billion – up 9.5 per cent on 2013.

Discovery of the embarrassing leak forced the bank to request a trading halt of its shares on Monday afternoon.

ANZ spokesman Stephen Ries told The New Daily that details published on the spreadsheet were “partial analytical data only” and that the bank would not bring forward its profit announcement.

“The data is unaudited at this point and the result announcement is going ahead on October 31,” he said.

Mr Ries said ANZ shares were expected to resume trading on the Australian Securities Exchange on Tuesday.

When asked whether anyone at the bank had been sacked for the lapse, Mr Ries replied: “No-one has been stood down.”

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