Qantas Group
(ASX:QAN) has announced an underlying profit before tax of $1.4B, beating May’s guidance.
It is the second highest performance in Qantas’ 97 year history and was helped in part by a strengthening in the domestic market over the past year.
Group revenue came in at $16.06B, down 0.9 per cent on last year, while underlying EBIT came in at $1.59B, a 9.2 per cent drop on FY16.
The national carrier has announced it will undertake an on-market buyback of up to $373M, as it seeks to deliver additional returns to shareholders.
Qantas will pay a final dividend of 7 cents per share in October of this year.
Shares in Qantas Group
(ASX:QAN) last traded 0.17% higher at $5.80.