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1360.0 - Measuring Australia's Economy, 2003  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/02/2003   
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Contents >> Section 6. Prices and Income >> Company Profits

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.




COMPANY PROFITS BEFORE INCOME TAX
Period
Mining

$m
Manufacturing

$m
Wholesale and
retail trade

$m
Other selected
industries

$m
Total

$m

ANNUAL (ORIGINAL)
1996–97
10,152
19,256
7,608
11,189
48,564
1997–98
11,814
20,423
8,006
12,648
52,887
1998–99
11,088
21,029
8,814
16,137
57,062
1999–2000
17,457
23,865
9,451
20,666
71,452
2000–01
22,464
22,702
8,709
21,632
75,497
2001–02
21,239
22,993
10,582
21,524
76,338

QUARTERLY (TREND)
2000–01
September
5,395
6,030
2,336
5,744
19,505
December
5,512
5,760
2,348
5,456
19,076
March
5,596
5,572
2,296
5,141
18,605
June
5,639
5,445
2,272
4,971
18,327
2001–02
September
5,625
5,404
2,420
5,042
18,491
December
5,477
5,562
2,690
5,282
19,011
March
5,332
5,891
2,816
5,582
19,621
June
5,192
6,198
2,799
5,928
20,117

Source: Company Profits, Australia (5651.0).


Explanatory Notes

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).

Further Reading

Business Indicators, Australia (5676.0)
Provides quarterly estimates of company gross operating profit as well as estimates of income from sales of goods and services, inventories and wages and salaries. Estimates are presented by industry in current prices and chain volume measures and in original, seasonally adjusted and trend terms. State dissections of income from sales of goods and services and wages and salaries are included.


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