Virgin’s first quarter revenue lifts 9.7% & beats guidance

Company News

by Anna Napoli

Virgin Australia (ASX:VAH) has beaten its quarterly guidance with revenue increasing by 9.7 per cent when compared to the first quarter of last year.

The airline company had expected revenue to grow by at least 7 per cent.

Virgin says it expects second quarter revenue to grow by 10 per cent compared to the prior corresponding quarter.

Underlying profit before tax for the first half of the 2019 year is expected to be at least $100 million which is a 22 per cent increase on the previous first half.

Shares in Virgin Australia (ASX:VAH) closed 2.5 per cent higher to 20.5 cents on Friday.

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.