WA business confidence dipped in June but remains near five-year highs, according to CCI-BankWest Survey of Business Expectations.
The survey of 412 businesses employing more than 31,000 people showed that confidence in the medium-term outlook for both the WA and the national economy fell 5 per cent and 11 per cent respectively compared to the March quarter.
However, a national business survey by Dun & Bradstreet is less optimistic. According to its latest National Business Expectations Survey, most business expect growth to slow in the new financial year and say they will cut back on bank borrowings if interest rates rise again.
Business expectations are now at their lowest ebb for eight months particularly in the wholesale and retail sector, with non-durables manufacturers also feeling the pinch.
The CCI survey found a greater proportion of firms reporting lower profits in the June quarter than those reporting higher profits.
Cable tie-up
Perth-based plastics development company, Millepede International, has reported it is in advanced discussions with global communications giant Krone to supply a co-labelled version of its soft cable tie the Mille-Tie.
Krone Group is a major global supplier of copper and fibre-optic
cabling systems for telecommunications and data networks.
Millepede said discussions with Krone were at an advanced stage and the company expected to confirm full details of the agreement in the near future.
Axiom sale
ASX-listed Axiom Properties Limited has entered into conditional contracts of sale to sell the Sanctuary Golf Course and other Sanctuary assets at Bunbury, and the Dunsborough Lakes Golf Course and residential estate at Dunsborough for a combined $10.3 million.
