The Regional Express Holdings Ltd (ASX: REX) share price has taken off today following the release of a strong full-year result.
In afternoon trade the regional airline’s shares are up 7% to $1.16.
Here are key takeaways from the release:
- Total revenue rose 9.7% to $281 million.
- Fuel costs fell 12.2% to $30.9 million.
- Profit before tax came in at $17.8 million, compared to a $10.7 million loss in FY 2016.
- Passengers rose 9% to 1.2 million.
- Average fare increased 3% to $213.90.
Much like Qantas Airways Limited (ASX: QAN), Regional Express benefitted greatly from low fuel costs in FY 2017.
This, and an increase in passenger numbers and average fares, resulted in an impressive swing to profit from a sizeable loss in FY 2016.
Pleasingly for its shareholders management has forecast mid-teen earnings growth in FY 2018.
Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.