FED:Company profits jump 18.9%

AAP General News (Australia)
08-30-2010
FED:Company profits jump 18.9%

Corporate Australia has notched up a record profit windfall .. of 68.5 billion dollars
for the June quarter.

Official data just out show companies' gross operating profits surged by a seasonally-adjusted
18.9 per cent in the June quarter .. the fastest pace in more than nine years.

Economists were expecting a 5.8 per cent increase.

Business inventories .. such as stock on shelves and in warehouses .. fell 0.5 per
cent in the June quarter .. when economists were expecting a rise of 0.4 per cent.

The data feeds into Wednesday's national accounts for the June quarter.

AAP RTV cb/sb/jmt

KEYWORD: ECONOMY (CANBERRA)

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