The Australian Council of Trade Unions secretary, Sally McManus, responded to huge profits reported by Qantas today, following similar results from Coles, Woolworths and CBA, warning of a inflation being fed by “companies putting up prices more than they need … a greed-price inflation spiral”. Qantas has posted a record $1.5bn half-year profit, saying strong demand for flights and travel has offset fuel price increases. Thousands more Australians took up Medibank policies last year despite the hack of millions of customers’ data, helping the health insurance provider to a $233m profit for the half-year ending 31 December, the company reported on Thursday. The prime minister, Anthony Albanese, has accused the Coalition of undermining superannuation “at every single opportunity”, as a political stoush continues after treasurer Jim Chalmers opened the door for changes to Australia’s superannuation tax concessions scheme this week. Here’s a wrap of what we learned today, Thursday 23 February: 07.23 GMT What we leaned – Thursday 23 FebruaryĪnd that’s where we’ll leave you this evening. Medibank expects to pay another $15m to $20m in the second half, including additional non-recurring investment in IT security. There is more work to do, and the lessons we have learned from the cybercrime will continue to shape our response and we will emerge stronger. We recognise the significant impact the cybercrime event has had on our customers.
Policy numbers have been back on the rise since the start of February with an additional 200 net policyholders, compared to a 1,100 loss in January.Ĭhief executive David Koczkar said the company continues to support customers whose data was breached, including mental health and wellbeing aid, identity protection and financial hardship measures.
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The result was substantially better than analyst expectations, with Bloomberg estimating a profit of $220m.ĭespite losing net 13,000 policies after the October public relations debacle, Medibank policyholders increased by 35,000 over the full year. Net profit rose 5.9% to $233m for the half ending December 31, the company reported on Thursday, despite a one-off $26.2m expense mopping up the data breach. Thousands more Australians took up Medibank policies last year despite the hack of millions of customers’ data, helping the health insurance provider to a solid second-half profit boost. 02.35 GMT Medibank posts better-than-expected profit despite bruising data breach
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