Australia’s big corporations are enjoying the strongest boom in revenue and profits in history. Monday’s figures from the Australian Bureau of Statistics show gross operating profits for the September quarter were a thumping $79.2 billion. That’s the highest for any September quarter ever. It is third-highest result for any quarter, beaten only by the previous two quarters this calendar year. But only by a smidgeon.
Total operating profits for the full 12 months to the end of September reached all-time records in several industry sectors.