Qantas Airways Limited (ASX: QAN) has reported its result for the half year to 31 December 2017.
Qantas Airways is the company that runs Qantas and Jetstar.
Here are some of the highlights compared to last year:
- Revenue up 5.8% to $8.67 billion
- Underlying day to day trading, or EBIT, up 12% to $1.06 billion (What does EBIT mean?)
- Reported profit up 17.9% to $607 million
- Reported profit per share up 25%
Qantas managed to grow its number of ‘available seat kilometres’ and its ‘revenue seat kilometres’ both increasing, which more than offset the slight increase of the costs.
Within the results, net passenger revenue grew by 6%, net freight revenue increased by 6%, Frequent Flyer revenue decreased by 2% and other revenue (like Qantas Club) grew by 9%.
The revenue increase was somewhat offset by costs increasing. Fuel costs increased by 4%, staff costs increased by 5% and depreciation increased by 10%.
Qantas CEO Alan Joyce said “This result shows what our previous record results have shown – we have a strong portfolio of businesses and the right integrated strategy for managing them.”
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