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Company profits defy delta to post 4pc quarterly gain

Ronald Mizen

Company gross operating profits defied the COVID-19 delta variant in the September quarter by rising 4 per cent, led by construction and professional services and bolstered by $10 billion in government support.

Households had a tougher time. Wages paid fell 0.8 per cent, and last week the average price of petrol rose 4.2¢ to a record high 170.4¢ a litre, with bowser records broken in Brisbane, Melbourne and Hobart.

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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com

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    Original URL: https://www.afr.com/policy/economy/company-profits-defy-delta-to-post-4pc-quarterly-gain-20211129-p59czy