Watch VideoPlay Video
Australian companies enjoyed the biggest boost in profits in a decade, last quarter. It was led by a record 63 percent jump in the mining industry, as strong Asian demand fueled sky-high prices for iron ore and coal.
Company gross operating profits climbed 18.9 percent in the second quarter, to reach 61.7 billion US dollars. That's compared to the first quarter when it increased by only 4 percent. The data doesn't even include profits in Australia's lucrative banking sector.
Analysts say more profits mean more investment, more jobs and higher wages. It will help boost GDP by supporting household consumption.