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Australian manufacturers are operating in an environment where the bar is rising for what represents meaningful growth – making it increasingly important for businesses to effectively use assets, capital and their workforce. Revenue growth remains an important measure of performance, but margins, productivity, working capital and the returns generated from investment are also key.

The manufacturing sector has demonstrated remarkable resilience and adaptability, achieving steady growth through effective cost management and strategic investments despite economic challenges.

This analysis of Australian mid-sized manufacturers has shown a positive outlook, with average year-on-year sales growing by 6.7 per cent in 2023. This growth can predominantly be attributed to increased capital expenditure and investing into emerging technologies. The outlook is particularly promising for business with revenue over $100m, whose scale has supported ongoing success through stronger forecasting linked to better pricing agreements and growing market shares due to their steady inventory.