Big corporate reporting day today. It'll need a tweetstorm to do it justice. 👇
Auto parts maker @ARB4x4 doubled their profits to $54m in the second half of 2020, after getting $10m in JobKeeper. ARB's dividend is up 56%. Time to back it up & repay the JobKeeper. #auspol (1/7)
Auto parts maker @ARB4x4 doubled their profits to $54m in the second half of 2020, after getting $10m in JobKeeper. ARB's dividend is up 56%. Time to back it up & repay the JobKeeper. #auspol (1/7)
Retailer Adairs saw its half-year profits more than double to $44m, having received $10m in JobKeeper. Half a cheer for paying back $6m - now it's time to return the rest. #shortsheeted #auspol (2/7)
Online advertiser @Domaincomau enjoyed increased profits to $19m for the half year. Yet they got $6m from taxpayers in JobKeeper. #caveatemptor #auspol (3/7)
IVF provider Virtus Health saw their half-year profit double to $30m & got $7m in JobKeeper. To live up to their virtuous name, they should pay taxpayers back. #auspol (4/7)
Senior village operator Ingenia saw a 38% increase in profit to $32m, yet got $5m in JobKeeper. Half a cheer for returning $2m to its rightful home. Now time to repay the rest. #auspol (5/7)
Software provider Elmo saw revenue rise at least 25% in 2020, yet received $4m in JobKeeper. Oh, and it paid exec bonuses of over $600k. That's your tax dollars at work. #auspol (6/7)
So what did we learn today? A handful of firms whose profits *rose* made $179m in profits. Yet taxpayers subsidised them with $38m in JobKeeper, of which the companies repaid a mere $8m. If your profits are rising, you don't need taxpayer handouts. #auspol (7/7)
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