SCA confirms JobKeeper payment of more than $31m
Southern Cross Austereo (SCA) has confirmed it received more than $31 million in JobKeeper payments in the 2021 financial year despite the company posting a handsome profit of $48 million.
Meanwhile, Enero Group, which owns agencies such as Hotwire and BMF, said it received $1.2 million for the 2021 financial year. Research and media company Pureprofile also reported JobKeeper subsidies of $364,000 for the financial year.
SCA chef executive Grant Blackley defended his company’s $31,570,200 payout at the firm’s financial results in August, insisting JobKeeeper – which helped 1749 employees – “did its job” during the health crisis.
Companies have come under the spotlight in recent months for benefitting from government assistance before going on to report healthy profits.
Enero, for whom 102 employees benefitted from JobKeeper, reported net revenue of $160.6 million in the year ending June 30, up 18%, while Pureprofile posted full year revenue for FY 2021 of $30 million, a 24% increase on the prior year. Just under 40 of Pureprofile’s staff received JobKeeper payments.
Earlier this year, Nine said it would repay the $2 million it received in JobKeeper to the Federal Government after posting a $182 million net profit, a 79% leap on the previous year.
Nine’s core business did not receive the government subsidy, with the $2 million boost awarded to the likes of Pedestrian and Nine Events, including Night Noodle Markets, Good Food events, and Australian Financial Review events.
Seven, meanwhile, said it received $33.4 million after posting a half year net profit of $116.4 million. CEO James Warburton told Mumbrella it would have been forced to retrench between 120 and 150 employees had it not received financial help.
