Business
AFIC: COVID-19 worse than GFC – The Australian Financial Review
The broad impact of the virus crisis will ensure it goes down in history as more damaging than the global financial crisis.
“In the past we’ve used our reserves in tough times. Certainly we could keep it going for a little while but that will depend on performance,” Mr Freeman said.
He said the sharp fall in net profit was in large part due to the reduction or deferral of dividends from the likes of ANZ, National Australia Bank, James Hardie, Sydney Airport, Transurban and Westpac.
The reduction in income follows a year where the company booked a number of positive one-off items which in turn bolstered profits, inc…
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