A stronger-than-expected interim reporting season leaves Australian companies sitting on a record pile of cash reserves, providing boards with greater flexibility to capitalise on opportunities in a post-COVID-19 world, even if those acquisitive instincts are tempered by the war in Ukraine.
At the close of trade on Friday, 164 S&P/ASX 200 companies had reported results which revealed that their aggregate cash holdings increased 60 per cent to a record $246 billion as of December 31, according to disclosures tracked by CommSec.