29 November 2001, 09:32 Australia Q3 corp pretax profits down 6.2 pct vs Q2; down 5.8 pct yr-on-yr
SYDNEY (AFX) - Company profits before tax, interest and
depreciation in the three months to September fell a seasonally
adjusted 6.2 pct quarter-on-quarter to 16.202 bln aud and were down 5.8
pct year-on-year, the Australian Bureau of Statistics said.
The median of economists' forecasts was for a fall of 2.0 pct
quarter-on-quarter, with forecasts ranging from a fall of 9.0 pct to a
rise of 5.0 pct.
In the second quarter to June 2001, profits rose by 10.7 pct
quarter-on-quarter.
The ABS said the major contributor to the decrease was the
non-repetition of foreign exchange gains recorded in the previous
quarter for mining, property and business services.
A small number of businesses reporting large abnormal losses in the
September quarter had a negative impact on the wholesale trade sector,
the ABS said.
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