Tuesday, 3 March 2015

Company Operating Profits Slip In December Quarter.

COMPANY gross operating profits fell in the December quarter, against analysts’ expectations of a slight lift, official data shows.
According to the Australian Bureau of Statistics, company profits dropped 0.2 per cent in the quarter, seasonally adjusted, compared with a 0.5 per cent increase in the September quarter.
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Economists surveyed by Bloomberg were expecting a rise of 0.5 per cent.
In the year to December, company profits were 5.9 per cent lower, the ABS said.
The business indicator’s release contributes to analyst forecasts for gross domestic product.
Official GDP figures are due to be released by the ABS on Wednesday.
Estimated business inventories, in seasonally-adjusted chain volume terms, slipped 0.8 per cent in the December quarter.
The estimate of income from sales by manufacturers in the December quarter, in seasonally-adjusted chain volume measures, was flat, while the same measure for wholesalers was up slightly, increasing 0.3 per cent.
This news story is reprinted from www.theaustralian.com.au
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