Bad end to 2012: ABS figures show company profits in December quarter 7.6% down

Company profits fell 7.6% in the quarter to December 2012 compared to the year before, according to new research by the Australian Bureau of Statistics.

The fall was greater than analysts expected – most had expected profits to fall just 0.9%.

Gross operating profits fell 1% over the same period

Despite profits decreasing, wages and salaries increased 4.8% last year and 1.4% for the December quarter, placing further pressure on businesses.

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