The global recession continues to affect companies “down under”; according to a report that business profits dived the most since 2003 in Q02 2009. Gross operating profits dropped 7.8% in the second quarter to AUD49.69B.
Among the hardest hit were mining companies, which posted a 24.7% plunge in profits. Likewise, wholesalers saw earnings slip 12.6%. Business inventories, which includes stocks on shelves and in warehouses, unexpectedly tumbled 3.4%, the biggest decline since record keeping started in 1985.
Post a Comment