Manufacturing growth slows in February as S&P Global PMI signals softer expansion
Australia’s manufacturing sector remained in expansion in February, but growth lost momentum as new orders slowed and output edged into contraction, according to the latest Purchasing Managers’ Index (PMI®) data released by S&P Global.
Orora’s half-year results reflect strong growth despite economic headwinds
Orora has completed the simplification of its portfolio, focusing on its global beverage packaging operations and implementing cost-cutting measures to navigate challenging market conditions.Â
Australian PMI contracts to 44.7 in 2022’s final result
Australia’s Performance of Manufacturing Index (PMI) slipped further into contraction territory in November following three months of flat conditions.Â
Australian PMI: manufacturing sector sees stability in September
Australia’s Performance Manufacturing Index has shown stability in September 2022, with increased market activity of 50.2 points, according to the Australian Industry Group.Â
Mobilicom’s Q1 update shows $1.2m new orders for Tier-1 drone manufacturers
Drone manufacturer Mobilicom has continued to fulfil existing contracts and advance potential sales of its mobile ground control system with AUD 1.2 million new orders in Q1 FY23 from over 50 per cent of Tier-1 drone manufacturers.
Brickworks hit $410m on record half-year NPAT
Building material manufacturer Brickworks has recorded an underlying Net Profit After Tax (NPAT) of $410 million, an increase of 24 per cent from the previous corresponding period, for the half-year that concluded on 31 January, as revealed in an ASX announcement.
Small business optimism declines as expectations for better business conditions worsens in December
The NFIB Small Business Optimism Index declined 2.1 points in December to 89.8, marking the 12th consecutive month below the 49-year average of 98.
Australian manufacturing PMI enters contraction territory in March
Australia’s manufacturing sector saw a mild decline in March, due to lower market demand that reduced output and inventory levels, marking the first PMI contraction since May 2020.Â
Austin Engineering anticipates 18% surge in 1H FY24 revenue
Global engineering firm Austin Engineering has shared positive news with a forecasted 18 per cent improvement in its first-half results for the financial year ending 30 June 2024 (1H FY24).
Orora sees first half earnings soar to $165.8m, up 7.3%
Australia-based global packaging manufacturer Orora has announced its financial results for the half year with earnings before interest and tax (EBIT) of $165.8 million, up 7.3 per cent driven by strong earnings growth in North America and robust earnings performance in Australasia.
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Responding to manufacturing demand and performance signals
Australian manufacturers are navigating a challenging environment. Just as output had returned to growth, higher fuel and freight costs, rising input prices and global supply chain disruption renewed pressure on margins and cash flow.
