News Feed » Australian Mining Companies http://www.news-feed.com Current and updated news feed covering the U.S. and the rest of the World Sun, 05 Feb 2012 15:16:42 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Australian Companies Affected By Global Recession http://www.news-feed.com/2009/09/01/australian-companies-affected-by-global-recession/ http://www.news-feed.com/2009/09/01/australian-companies-affected-by-global-recession/#comments Tue, 01 Sep 2009 12:17:14 +0000 admin http://www.news-feed.com/?p=964 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.

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