Global steel prices are simply unsustainable.

The cost of the expansion is higher than we expected, but diamond prices and demand have been buoyant, which means the project will meet returns targets.

For Patrick, it's great for shareholders because it should see them garner a higher price.

It's a very appropriate price for Patrick. Toll is going to become a very powerful player in the industry.

And our market is being helped by a bounce in commodity prices, after they were heavily sold off in the past few weeks.

Funds management has been a standout, but is as expected, given the strong investment markets. Business lending is also strong and has slightly offset weakness in Westpac's home-lending segment.