JobKeeper turns ProfitKeeper

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Back in July we reported that K&S Corporation had posted a five-fold increase in net profit on the back of $12.4 million in JobKeeper subsidies:

In August, The AFR reported that retailers receiving millions of dollars in JobKeeper subsidies are earning higher profits and paying significantly increased dividends to shareholders:

Adairs joins fellow JobKeeper recipient, furniture retailer, Nick Scali, in increasing shareholder payouts…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.