Financial News: Australia Company Operating Profits Jump 10.6% In Q4

Australia Company Operating Profits Jump 10.6% In Q4

02/26/2023 - 20:10:00 (RTTNews)

(RTTNews) - Australia's company gross operating profits surged a seasonally adjusted 10.6 percent on quarter in the fourth quarter of 2022, the Australian Bureau of Statistics said on Monday.

That blew away expectations for an increase of 1.5 percent following the upwardly revised 11.5 percent decline in the three months prior (originally -12.5 percent).

Business inventories eased 0.2 percent on quarter, in line with forecasts following the 1.7 percent increase in the previous three months.

Wages and salaries rose 2.6 percent on quarter.

On a yearly basis, operating profits jumped16.0 percent, inventories gained 5.9 percent and wages advanced 11.6 percent.

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