Economy

Dec 8, 2017

Company profits rocket skyward

Yet, despite profits at all-time highs, corporate taxes collected by the Turnbull government are at historic lows.

Alan Austin — Freelance journalist

Alan Austin

Freelance journalist

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.

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