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AUSTRALIAN COS SEE PROFIT GROWTH FALL US$41 BLN SEPT QUARTER.

AsiaPulse News

| December 03, 2007 | COPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

CANBERRA, Dec 3 Asia Pulse - Growth in Australian company profits unexpectedly fell to A$46.52 billion (US$41.22 billion) in the three months to September, taking the gloss off what is expected to be a bumper economic growth reading in Wednesday's national accounts.

The Australian Bureau of Statistics (ABS) said profits fell by a seasonally adjusted 2.1 per cent in the September quarter compared to the previous quarter.

Economists had forecast a two per cent increase.

But at the same time, the ABS's business indicators data also showed business inventories - goods in warehouses and on shelves - grew by a seasonally adjusted 1.3 per cent, above economists' forecasts for a 0.5 per cent increase.

Prior to today's data, economists were forecasting a 1.0 per cent increase in the ...

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Source: HighBeam Research, AUSTRALIAN COS SEE PROFIT GROWTH FALL US$41 BLN SEPT QUARTER.

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