Australian companies expect revenue boost in 2015: report

Most Australian companies boosted their profits in the past year, but their sales remained flat, according to a new report released on Wednesday.

The report, titled SustainSales: Outlook and Opportunities, which surveyed the nation's top 50 companies, also said 90 percent of firms believed that they would make bigger revenues over the coming year.

The Synergy Group report found that more than 75 percent of Australia's top companies lifted their net profit in the 2014 financial year, but seven out of 10 recorded flat sales.

But it appears improving sales is not at the top of their priority list in 2015, with companies instead favoring earnings growth and also a focus on cost cutting.

Synergy chief executive Katherine Edgar said companies needed to focus on boosting sales.

"In 2015 companies need to switch their focus from generating profit growth through cost cutting to boosting sales," she said in a statement.

"The lack of robust revenue growth is very concerning for business and should make corporate Australia sit up and take action."