Chanticleer
What we learnt: Welcome to profit season's brave new world
A retailer which raised its dividend despite getting $4 million in taxpayer funds is a neat window into the topsy-turvy world of a COVID-19 profit season.
With Australia’s second-biggest city under a nightly curfew and its residents reduced to figuring out whether they are “permitted” workers, it was fitting that the first week of the August reporting season provided a peek into the strange new world we live in.
Take medical device giant ResMed, a big decline in customers for its core sleep apnoea products was offset by a huge rise in the number of ventilators – more than 150,000 in the space of a few months – that were sold to hospitals as part of the global fight against a deadly global pandemic.
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