Australia Company Profits Jump 7.4% In Q4

(RTTNews) - Company operating profits in Australia were up a seasonally adjusted 7.4 percent in quarter in the fourth quarter of 2023, the Australian Bureau of Statistics said on Monday.

That beat forecasts for an increase of 1.8 percent following the 1.3 percent decline in the three months prior. Profits were down 5.4 percent on year,

Wages and salaries were up 0.9 percent on quarter and 8.0 percent on year, while inventories fell 1.7 percent after adding 1.2 percent in the previous quarter. Inventories fell 0.6 percent on year.

Manufacturing sales were up 0.6 percent on quarter and 1.5 percent on year, while wholesale sales fell 0.2 percent on quarter and 2.3 percent on year.