By James Glynn
SYDNEY--Australian company gross operating profits rose by 1.3% in the third quarter from the second, the Australian Bureau of Statistics said.
From a year earlier, corporate profits were up by 0.1%, the ABS said Monday. Economists surveyed ahead of the announcement had forecast a rise of 1.2% in the third quarter from the second.
Meanwhile, the value of inventories, or stocks, held by Australian companies rose by 0.1% on-quarter, the ABS said, where economists on average had expected an increase of 0.5%.
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