Fed: Businesses expect profit to fall 15 pct in March qtr: ABS

AAP General News (Australia)
12-20-2001
Fed: Businesses expect profit to fall 15 pct in March qtr: ABS

CANBERRA, Dec 20 AAP - Australian businesses expect their profits to fall by around
15 per cent in the March quarter next year but they should pick up again in the medium
term, official figures showed today.

Allowing for seasonal factors, businesses expect falls in profit (14.9 per cent), selling
prices (0.2 per cent), operating income (1.0 per cent) and employment (0.4 per cent) in
the three months to March, the Australian Bureau of Statistics said.

The biggest profit slumps were expected by retailers (64.4 per cent) and manufacturers
(57.2 per cent), while electricity, water and gas industries were the only sectors to
expect rises (1.3 per cent).

Improvements were expected by the December quarter in profit (8.1 per cent), operating
income (1.5 per cent) and selling prices (0.9 per cent), but employment would still fall
(0.1 per cent), the ABS survey said.

AAP jph/was/sb

KEYWORD: BUSINESS

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