Company profits down

30 May 2011 | 15:10 - By Ricardo Goncalves

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.

roma_qld_floods_110530_file_AAP_1727635869

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.

Share article: 
top

Join the discussion

You have characters remaining.
Validation (
) :
This is a captcha-picture. It is used to prevent mass-access by robots.

PLEASE NOTE: All submitted comments become the property of SBS. We reserve the right to edit and/or amend submitted comments. HTML tags other than paragraph, line break, bold or italics will be removed from your comment.

About this Blog

SBS Presenter Ricardo Goncalves with the latest in finance.

Ricardo Goncalves Ricardo Goncalves is a Presenter / Reporter for SBS World News Australia

 
ADVERTISEMENT

Other Blogs

TV
Food
Films
Documentary
World News Australia
Sport
About SBS
Business
Internet and Technology
Cycling Central
Festival Reports
Tour De France