The ABS reported an increase in industry sales for the third consecutive quarter, with the June 2008 quarter yielding a 3.6 per cent increase in sales compared to the March 2008 quarter, and a 6.3 per cent increase compared to the June 2007 quarter.
Indeed, industry sales over the last financial year totalled almost $20.4 billion, representing a 7.8 per cent rise on the previous year’s total.
Pre-tax profits also improved during the June 2008 quarter, rising by 2.7 per cent on the previous quarter’s outcome and by 12 per cent when compared to the June 2007 quarter.
Defying the trend of improvement were new capital expenditure figures, which showed a 12.6 per cent reduction during the June 2008 quarter compared to last quarter, and a 14.8 per cent reduction compared to the June 2007 quarter.
Hagop Tchamkertenian, Printing Industries’ national manager for Policy and Government Affairs, said the strong sales and profit figures came as something of a surprise.
“It could be that the non-printing segments such as the publishing sector are doing exceptionally well, which has helped to lift the group,” he said. “The new capital expenditure numbers are consistent with what we were expecting based on our internal research, which showed that investment was moderating.”
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