The Regional Express
(ASX:REX) has recovered from its 2016 loss and posted a $12.6 million profit, representing a 232 per cent gain for the 2017 financial year.
In more good news for regional airline, its revenue bolstered over the 2017 financial year, climbing 7.3 per cent on FY16 to $281 million.
On the flip side, its net cash flow from operating activities fell on the prior year, to $26.1 million.
The carrier attributed rebound results to an improvement in its travel network and a 9 per cent lift in passenger numbers, particularly in Western Australia.
In the announcement to the market, Rex says it decided to award its ‘long suffering shareholders’ with what they are calling a ‘generous dividend’ of 10 cents per share for FY17.
Shares in The Regional Express
(ASX:REX) are trading 5.99 per cent higher to $1.15
