MEDIA RELEASE
28 May 2014	Embargo: 11.30 am (Canberra Time)	60/2014

Mining and manufacturing industries led an overall decline in pretax earnings and profit in 2012-13, according to a report released today by the Australian Bureau of Statistics (ABS).

ABS Director of Annual Industry Statistics, Mr Chris Thompson said that in 2012-13 mining operating profit before tax (OPBT) declined 34.3 per cent, while earnings before interest, tax, depreciation and amortisation (EBITDA) declined 23.5 per cent. He added that manufacturing OPBT fell by 24.8 per cent and EBITDA by 10.8 per cent.

"Across all industries in the report, profits decreased by 9.9 per cent between 2011-12 and 2012-13, while earnings fell 4.4 per cent.

"Other industries to experience declining profits over the same period included professional, scientific and technical services (-14.2 per cent), construction (-13.8 per cent) and wholesale trade (-10.0 per cent).

"However, not all industries experienced a downturn. Information media and telecommunications profits rose (16.9 per cent), as did profits for agriculture, forestry and fishing (13.1 per cent), rental, hiring and real estate (11.6 per cent) and retail trade (8.6 per cent)," said Mr Thompson.

These results are only a preview of the information available from the annual Economic Activity Survey, which is sent out to over 22,000 Australian businesses.

Further information from the survey is available in Australian Industry (cat. no. 8155.0) available for free from the ABS website.

Media notes

• Population is Australian businesses operating in 2012-13, excluding the General Government sector, and the Finance, Insurance and Superannuation Funds industries, as well as private households employing staff and goods and service producing activities of households for own use.
• When reporting ABS data the Australian Bureau of Statistics (or ABS) must be attributed as the source.
• Media requests and interviews - contact the ABS Communications Section on 1300 175 070.