Channel profit outlook improves: ABS

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Channel profit outlook improves: ABS

New Bureau of Statistics data has found that business profitability rebounded in Q4 of 2018, with channel organisations poised to enjoy healthier balance sheets as a result.

The Bureau's (ABS') latest Business Indicators data, released on March 4th and covering the quarter to December 31 2018, reported an overall 0.8 percent increase in gross operating profits.

Profits in the  sector of the economy covering the channel - "Professional, Scientific and Technical services" - recorded lower growth at 0.5 percent. But at least it grew: the figure for the quarter ended September 2018 was a fall of 0.8 percent.

The IT channel is the largest industry by headcount and revenue in the ABS' "Professional, Scientific and Technical" classification.

The seasonally adjusted estimate is also up at 6.6 percent for the period, compared to a 1 percent drop in the previous quarter.

Wages and salaries are also up at 0.3 percent for the period, compared to 0.6 percent in the third quarter. However the seasonally adjusted rate fell one percent, compared to a 0.7 percent increase. But even that is lower than the increase in wages across the economy.

 

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