Profits before income tax earned by incorporated manufacturing businesses rose by 15% between 1998-99 and 1999-2000, following a fall of 6% from 1997-98 to 1998-99 (table 19.17). Profits rose between 1998-99 and 1999-2000 in seven of the nine manufacturing subdivisions; by far the largest increase was recorded in Metal product manufacturing (of $893m, or 96%) which recorded 1999-2000 profit levels similar to those of 1997-98. Profits in the relatively small Other manufacturing industry more than doubled between 1998-99 and 1999-2000. Large relative rises were also recorded by Textile, clothing, footwear and leather manufacturing (by 52%) and Non-metallic mineral product manufacturing (by 36%).
Industry subdivisions contributing most to manufacturing industry profits for 1998-99 were Food, beverage and tobacco manufacturing (23%), Petroleum, coal, chemical and associated product manufacturing (18%), Metal product manufacturing (15%) and Printing, publishing and recorded media (12%).
19.17 PROFITS BEFORE INCOME TAX, Manufacturing Companies |
|
| Industry subdivision | 1997-98
$m | 1998-99
$m | 1999-2000
$m |
|
| Food, beverage and tobacco manufacturing | 2,947 | 2,966 | 2,895 |
| Textile, clothing, footwear and leather manufacturing | 232 | 190 | 288 |
| Wood and paper product manufacturing | 694 | 882 | 1,018 |
| Printing, publishing and recorded media | 1,185 | 1,349 | 1,552 |
| Petroleum, coal, chemical and associated product manufacturing | 2,246 | 2,290 | 2,326 |
| Non-metallic mineral product manufacturing | 723 | 837 | 1,134 |
| Metal product manufacturing | 1,989 | 934 | 1,827 |
| Machinery and equipment manufacturing | 1,537 | 1,419 | 1,378 |
| Other manufacturing | 73 | 76 | 156 |
| Total manufacturing | 11,627 | 10,943 | 12,575 |
|
| Source: Company Profits, Australia (5651.0). |
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