Loading
28-Feb-2013 10:43 AM

Regional Express profits down by more than 30% in 1HFY2013, revises downward FY2013 forecast

Regional Express revenue down 3% - financial highlights for six months ended 31-Dec-012:

  • Total revenue: AUD135.4 million (USD140.6 million), -2.7% year-on-year;
    • Passenger: AUD109.2 million (USD113.4 million), -1.2%;
    • Charter: AUD19.7 million (USD20.4 million), -10.2%;
  • Total costs: AUD124.6 million (USD129.4 million), +2.4%;
    • Labour: AUD48.3 million (USD50.2 million), +2.8%;
    • Fuel: AUD20.3 million (USD21.1 million), +4.9%;
  • Profit before tax: AUD12.5 million (USD12.9 million), -32.6%;
  • Profit after tax from continuing operations: AUD9.0 million (USD9.4 million), -32.4%;
  • Passenger numbers: 577,873, -5.0%;
  • Load factor: 56.8%, -3.3 ppts;
  • Average fare: AUD188.9 million (USD196.2), +4.0%;
  • Passenger revenue per ASK: AUD28.4 cents (USD 29.5 cents), -1.4%;
  • Total passenger cost per ASK: AUD 27.9 cents (USD 29.0 cents), +2.2%;
  • Total assets: AUD252.2 million (USD261.9 million), -2.8% when compared to period ended 30-Jun-2012;
  • Cash and bank balances: AUD35.2 million (USD36.6 million), -18.6% when compared to period ended 30-Jun-2012;
  • Total liabilities: AUD76.5 million (USD79.5 million), -7.7% when compared to period ended 30-Jun-2012. [more - original PR]

*Based on the average conversion rate at USD1 = AUD0.9628

Regional Express: "Outlook for Rex is negative given increasing government taxes and regulations dampening domestic expenditure resulting in slowing passenger demand and rising costs especially fuel. Full year profit revised downwards to 35% to 40% below previous FY." Source: Company statement, 27-Feb-2013.

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More