Predictions of shrinking profits as reporting season kicks off for Australia's top listed companies

During the next few weeks, hundreds of ASX-listed Australian companies will be reporting their full-year or half-year earnings, and many big companies are being put under the spotlight.
Following huge falls on global markets earlier this week, analysts say disappointing profit results could lead to further market volatility.
Share prices are still near record highs, but investors are being warned corporate profits will shrink for a second year in a row.
In the current cost-of-living crisis, companies in the retail sector and consumer discretionary stocks are expected to face heavy scrutiny.

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