Companies' total expenditure plummets 24% in three months to June

Some of this may have to do with pruning of some costs that they would have otherwise incurred, had business been normal; analysis looked at 402 firms that have declared June results

The financial results released by listed companies show a significant decline in their expenses. Total expenditure was down around 23.7 per cent in the three months ended this June, from the year-ago period. It was down over 27 per cent when compared to March.

Some of this may have to do with the pruning of some costs that they would have otherwise incurred, had business been running normally. The analysis looked at 402 companies that have declared June results and for which comparable data is available.

Sales have been in decline in the June quarter