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> In dollar terms its profits have gone up but as a percentage they haven't. Citation required.
by polygamous_bat 3y ago
> In dollar terms its profits have gone up but as a percentage they haven't.
Citation required.
- dageshi 3y agoI can't say whether that's actually happening or not, all I can say is it's a reasonable explanation as to why profits would be going up for many companies.
- dools 3y agoThe article we are discussing cites: On Thursday Qantas posted $1.4b half-year profits, tripling revenues On Wednesday Woolworths posted a 25% rise in profits. Supermarket profits have soared on the strength of rapid food price inflation. On Tuesday Coles net profit grew 11% in the latest half-year result announced Monday, beating forecasts. On Wednesday Santos posted a 221% annual profit Ampol, Australia’s largest oil refiner, reported a 30% increase in first-half net profit, buoyed by soaring petrol prices. Commonwealth Bank posted a record $5.1b billion profit, up 9%, buoyed by extra interest income from rising interest rates In every case the increase in profits exceeds inflation, so the increase in profits is definitely not simply a case of percentages remaining the same.