Qantas banks second-highest record profit

Company News

by Jessica Ellerm


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.

 

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