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The trend estimate for total company gross operating profit, in current price terms, was relatively flat between September quarter 1994 and December quarter 1996. From March quarter 1997, the series began to increase, with growth particularly strong during 1999-2000. The estimate in June quarter 2000 ($19,587m) was 63% higher than for December 1996. The series then decreased during 2000-2001 but has begun to increase through 2001-02. The estimates for March and June quarters 2002 are slightly higher than the previous June quarter 2000 peak.
The company gross operating profit series measures underlying profits, excluding dividend income, depreciation, net interest and other items outside the normal production boundary of companies (i.e. incorporated business enterprises) employing 20 or more people in the private sector in Australia. For the purpose of the series, branches of overseas companies operating in Australia are included but overseas branches of Australian companies are excluded.
This series provides quarterly statistics by broad industry, including mining, manufacturing, wholesale trade, retail trade, transport and storage, services to finance and insurance, property and business services, and other services.
Certain industries are excluded from this series, including agriculture, forestry, fishing and hunting; finance; insurance, government administration and defence; education; health and community services; and private households employing staff. Public sector business units (i.e. all departments, authorities and other organisations owned and/or controlled by the Commonwealth, state and local governments) are also excluded.
The company gross operating profit series is used by private and government analysts to assess the profit performance of the private incorporated trading sector and as a short-term indicator of economic activity. These statistics contribute to informed decision-making regarding future economic policy for this sector and the economy as a whole. They are also used as an input into the compilation of the gross operating surplus item in the national accounts, which is part of the income measure of gross domestic product (GDP).
Business Indicators, Australia (5676.0)