This is an insult to all Australian taxpayers.

The company behind Australia’s offshore processing regime on Nauru made a $101m profit last financial year – more than $500,000 for each of the fewer than 200 people held on the island.

Rard No 3, the holding company for Canstruct International, which has the government contract to run the Nauru offshore processing centre, has more than $340m in cash and investments, according to its most recent accounts filed with the corporate regulator.

When Canstruct International was initially awarded the Nauru contract in 2017 the company had $8 in assets.

Source: Nauru detention centre operator makes $101m profit – at least $500,000 for each detainee | Nauru | The Guardian