Company operating profits in Australia were down a seasonally adjusted 6.9 percent in the second quarter of 2014 compared to the previous three months, the Australian Bureau of Statistics said on Monday.
That missed forecasts for a decline of 2.0 percent following the downwardly revised 2.0 percent gain in the first quarter (originally 3.1 percent).
Profits were up 0.8 percent on year.
Inventories were up 0.8 percent, beating expectations for a gain of 0.3 percent after shedding 1.7 percent in Q1.
Inventories were down 2.0 percent on year.
Wages and salaries added 1.1 percent on quarter and 2.9 percent on year.
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