RICARDO'S BUSINESS: Adding weight to the possibility of an interest rate reprieve next month, new ABS figures show profits unexpectedly fell in the March Quarter, as the impact of the Queensland floods eroded company earnings.
Floods devastated banana and other crops in north Queensland. (File AAP)
For the year to date, company profits are up almost 10 per cent, but almost all of that has been made by mining related companies, reiterating Australia's two speed economy.
Not all businesses are making money, adding weight for the case for no interest rate rises in the short term.