Australia’s biggest companies made nearly $100bn in ‘crisis profits’ amid Covid and Ukraine war
by Stephanie Convery Inequality reporter from World news | The Guardian on (#6NKSM)
Oxfam analysis finds Woolworths, Hancock Prospecting and NAB among companies to rake in much higher profits off the back of crisis conditions
Australia's 500 biggest companies made $98bn in crisis profits" off the back of the Covid-19 pandemic and Russia's war on Ukraine, new analysis has found.
In 2022 and 2023, companies including Woolworths, Hancock Prospecting, National Australia Bank, AGL Energy and Harvey Norman reaped billions of dollars in profits, more than 20% above their 2018 to 2021 average, according to a new report by Oxfam Australia.
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