Change of mood

Corporate results for the January-March quarter have been a disappointment, but there may be worse in store. For the 2,526 companies that have declared their results, quarterly sales were up a healthy 23 per cent, but net profits were up only 14.6 per cent, year-on-year. At a time of rising input costs, companies have either not been able to pass on the higher costs, or chosen not to do so in the interests of growing sales volume. 

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