Business
Adairs returns JobKeeper subsidies as profits rise three-fold – The Australian Financial Review
Adairs has decided to return $6.1 million in JobKeeper subsidies after delivering bumper profits underpinned by the cocooning trend.
Manchester retailer Adairs plans to return $6.1 million in Jobkeeper benefits after net profits rose more than three-fold in the December-half to $43.8 million, fuelled by demand for bedding and homewares from consumers cocooning at home.
Underlying earnings before interest and tax excluding JobKeeper subsidies soared 166 per cent to $60.2 million. EBIT including JobKeeper came in at $66.3 million, in line with Adairs December guidance, when it forecast underlying earnings between $62 million and…
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