CBA notes business margin pressure
(5 February 2008 – Australia) Commonwealth Bank executive general manager, Corporate Financial Services, Rob De Luca, said businesses are feeling the pressure of increased costs which are starting to impact their bottom line.
De Luca was commenting on the latest CBA-ACCI Business Expectations Survey which found that trading conditions were relatively sound over the past quarter but that there had been a strong uptick in business costs.
Better news was the stronger growth in employment albeit this was tempered by wages and labour costs hitting record highs.
De Luca said in a tight operating environment, tighter management would continue to play an important role in maintaining margins and continued business success.
ACCI director of Industry and Innovation, Greg Evans, said it was important that industrial relations reforms promoted stable economic growth.
Better news was the stronger growth in employment albeit this was tempered by wages and labour costs hitting record highs.
De Luca said in a tight operating environment, tighter management would continue to play an important role in maintaining margins and continued business success.
ACCI director of Industry and Innovation, Greg Evans, said it was important that industrial relations reforms promoted stable economic growth.
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