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Companies profit during JobKeeper wage subsidy

Luke Grant

Luke Grant is joined by Dean Paatsch, Co-Founder of Ownership Matters, to discuss their recent report that shows the generous JobKeeper scheme helped boost the underlying profits of about 10 percent of the sharemarket’s top 300 listed companies.

 

Reporting larger profits than before the pandemic, of the 66 ASX 300 companies receiving JobKeeper between July and December last year, 58 reported positive earnings and together they accounted for 30 per cent of all cash paid to the top 300 companies.

 

The six largest JobKeeper recipients including QANTAS ($726million), accounted for approximately 63% of all JobKeeper payments with the airline receiving additional government subsidies of $511million from the Australian Government

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Luke Grant
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