Harvey Norman repays $6 million in JobKeeper profits
following months of pressure
The money paid back represents less than a third of the estimated $22 million
in JobKeeper wage subsidies the retail group received.
Updated Updated 7 hours ago
By Tom Stayner
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Harvey Norman has bowed to public pressure and repaid $6 million in JobKeeper subsidies after making record profits for the 2020-21 financial year.
The ASX-listed company quietly revealed the decision in an update to investors on Tuesday morning, declaring $6.02 million in payments had been returned.
It follows ongoing calls for companies that accrued billions of dollars in JobKeeper payments despite their businesses not suffering a downturn in revenue to return the money.
According to its latest update, Harvey Norman notched a year of record sales, reporting a 15.3 per cent increase in total revenue to $9.72 billion and a 75.1 per cent increase in
profit after tax of $841.41 million.