In Australia, profits make for bad publicity. This is no surprise given our penchant for tall poppy syndrome, in which successful individuals face resentment and criticism.

From our sportspeople to politicians and business magnates like Gina Rinehart, Australians have perfected the art of cutting down those who rise above the crowd.

Corporate heavyweights such as Qantas and Coles cop a lot of heat for reporting healthy profits.Credit: Aresna Villanueva

This cultural trait extends beyond individuals to businesses, what we might call “tall profits syndrome”, in which any company reporting healthy profits instantly becomes a target for criticism and accusations of unethical behaviour.

“Tall profits syndrome can inhibit innovation and discourage ambition,” says Rachel Waterhouse, chief executive of the Australian Shareholders’ Association.

“Profit growth is a foundation of a strong and sustainable economy. It enables companies to reinvest in innovation, create, and sustain jobs, and drive national economic development.”

With another ASX reporting season just a few weeks away, and coming right before a........

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