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1.Market Observations, 8.Was Sticky

28 Feb 2017 (AFR) – Business profits shatter expectations, inventories hold ground

(28 February 2017, AFR, p3, by Jacob Greber)

‘A blockbuster $13 billion surge in business profits last quarter – the biggest jump since 2001 – has stoked speculation of a turnaround in economic growth and spurred hopes of fresh windfalls for shareholders and the federal government’s tax collectors. Companies reported a 20.1 per cent rise in profits from the third quarter, much of it because of galloping iron ore and coal prices but also because of a surge in earnings outside of resources, which rose 8.7 per cent, Australian Bureau of Statistics data showed on Monday.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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