However, brokers spoken to by the Otago Daily Times are not expecting too much enlightenment from the outlooks as far as financial guidance is concerned.
Property For Industry was the lone company to report yesterday, with the rest of the week focused mainly on Australian companies, including Rio Tinto, Telstra and the dual-listedNews Corp.
Property for Industry, whose management contract was sold to DPF Management last year, reported a 4.9% drop in first-half earnings after shrinking its portfolio, and warned the annual dividend would be smaller than a year ago.
Distributable earnings, the favoured profit measure for property companies because it strips out unrealised changes in the fair value of its portfolio, fell to $7.6 million, or 3.5c per share, in the six months ended June 30, from $8 million, or 3.7c per share, a year earlier, the Auckland-based company said in a statement. That was slightly ahead of Forsyth Barr's forecast of $7.4 million, or 3.4c per share.
Mining giant Rio Tinto is expected to report a fall in first-half earnings tomorrow, but a recent boost to production is likely to drive profits higher in fiscal 2013.
Rio Tinto said it achieved record first-half iron-ore production of 120 million tonnes, 4% higher than the first half of 2011.
Craigs Investment Partners broker Chris Timms said the reporting season was expected to highlight the ongoing subdued levels of economic activity.
"We expect that the Christchurch rebuild will remain on track, although with uncertain timing."
Forsyth Barr broker Peter Young was slightly more optimistic for the approaching reporting season.
Of the 43 companies reporting, 33 were reporting full-year results and 10 were reporting interim results.
For companies reporting full-year results, at a sales, earnings before interest and tax (ebit) and earnings per share (eps) levels, about 20 of Forsyth Barr forecasts were ahead of the market and about 13 were below.
Forsyth Barr was forecasting strong sales growth for utilities, industrials, healthcare and materials, he said.
Mr Timms said Fletcher Building would be a closely watched result on August 22.
Despite anecdotal evidence the rebuilding of Christchurch was progressing slower than expected, Fletcher Building had stood by its 2012 earnings guidance of $310 million-$340 million, or 45c-50c a share, when many were expecting a downgrade.
The strong currencies in both Australia and New Zealand were expected to constrain those companies with export earnings.
Lower commodity prices would affect both positively and negatively on companies, depending on their markets.
Mr Timms expected company revenue growth to remain low, but companies with strong cost control and pricing power would still be able to deliver earnings growth.
"No-one is expecting to see a season of large numbers. A lot of companies are doing well and we will be looking for strong operating cash flows as an indication of their corporate health.
"Any cuts to dividends will pull the share price back aggressively."
In New Zealand, Craigs saw potential for positive results from Port of Tauranga, Trade Me, Summerset, Freightways and Sky Network TV.
Weaker results were expected from Air New Zealand, Auckland International Airport, Nuplex, NZ Oil & Gas, and Vital Healthcare.
Vital Healthcare indicated yesterday the value of its property portfolio had fallen about $6.2 million, or 1.1%, in the year ended June 30, led by a drop in the value of its Mercy Ascot Hospital in Auckland.
Vital's manager said the New Zealand portfolio's value fell $5.3 million and the Australian portfolio's value dropped $900,000.
The Mercy hospital and the Allamanda Private Hospital in Southport, on Australia's Gold Coast, have both decreased in value because they each had medium-term lease expires, it said.
