Why Flight Centre (ASX:FLT) and Webjet (ASX:WEB) shares are being hammered today
Why Flight Centre (ASX:FLT) and Webjet (ASX:WEB) shares are being hammered today
Flight Centre Travel Group Ltd (ASX:FLT) and Webjet Limited (ASX:WEB) shares are falling heavily after an update by Qantas…
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Revenue increased by 20% to $1.65 billion, underlying EBITDA rose 118% to $233.6 million and underlying earnings before interest and tax (EBIT) grew 1,590% to $130.4 million. Its operating profit improved to a profit of $128.8 million.
The ASX 200 share reported that there was growth in all regions and ‘seed technologies’, with particularly strong growth in the Asia Pacific and European regions.
The Nufarm managing director and CEO Greg Hunt said:
Strong early demand and channel restocking in key markets has delivered a very strong first half result. We are realising benefits from the leverage of our APAC business to improved seasonal conditions and the earnings recovery in our European business is on track.
Qantas (ASX:QAN) share price takes off following market update fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.