Virgin’s profits go sky high

Company News

by Anna Napoli

Virgin Australia (ASX:VAH) has reported its group underlying profit before tax rose about 142 per cent to $103 million for the half year to December 2017.

Revenue increased by 15 per cent on the same time last year to $191 million.

Its segment ebit (EBIT) increased by 9.8 per cent to $56 million.

No dividends were declared during the half year.

Virgin Australia’s board today announced they have decided not to take the company private and have offered small investors holding unmarketable parcels of shares a buy-back facility. 

Shares in Virgin Australia (ASX:VAH) are trading 3.85 per cent lower to $0.25.
 
  

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.