profits

Thorn Group's (ASX:TGA) shares soar by 5 percent. The company posted a full year profit increase of 13 percent, forecasting a strong year ahead.

Net profit increased by $22.04 million in 2010/11, which is up by $19.5 million compared to the previous year. Shares also increased by 10 cents to $2.08.

Managing director John Hughes credits the company for doing well despite the fact that consumers preferred to rent goods.

Australian agricultural, retail and mining conglomerate, Wesfarmers (ASX:WES) has seen a slow profit growth, releasing a reported net profit of $1.6 billion, up 2.8 percent form the previous year. Earnings in the company's resources dividsion fell by 81 percent from higher royalties and lower coal prices in the first three quarters.

Australian toll road operator Transurban (ASX:TCL), have reported a net profit of $59.4 million for the financial year. An improvement on a loss of $24.6 million from the previous year.

Transurban Dividends

Australian banking company, Commonwealth Bank (ASX:CBA) announced a record $6.1 billion net profit after tax, up 42 percent on the previous year. However the bank's shares dropped 3 percent or$1.56, to $51.19 (almost $9 below the stock's peak this year). The market jitters was caused by weaker second half performance.

• Cash NPAT of $6,101 million - up 42 percent on prior year;

West Australian Newspaper Holdings (ASX:WAN), have announced a full year net income of $96.2 million, a 10 percent rise compared to the previous year. Net revenue was down 2.1 percent to $409.2 million. The results reflect a recovery after 2009 when it spent $13.672 million on staff redundancies.

West Australian Newspapers Dividend

IAG (ASX:IAG), owner of NRMA and RACV, has issued a statement that it expects to report a drop in annual profit for the 2010 fiscal year. A day after competitor, QBE Insurance announced profit forecasts downgrades, Insurance Australia Group have released poor financial figures on what most analysts were already expecting.

IAG Financial Forecasts and Numbers