Rainbow Tours tracks worst day in over 4 years after earnings miss
BUZZ-Rainbow Tours tracks worst day in over 4 years after earnings miss .
** Shares in Rainbow Tours RBW.WA fall around 10% after the Polish tour operator's Q2 earnings missed analysts' expectations
** The results were "significantly below consensus," Trigon's Grzegorz Kujawski says, primarily due to erosion of profitability in the company's core tour operating unit
** Rainbow's H1 net profit falls over 23% y/y to 65.0 million zlotys ($16.93 million), while EBITDA is down 22% to 90.6 million zlotys
** Kujawski adds results reflect increased competition and the Middle East conflict's impact on jet-fuel prices and some destinations
** Rainbow shares head for their biggest daily fall in over 4-1/2 years and are the worst performer on Poland's mid-cap index .MWIG40
($1 = 3.8403 zlotys)
(Reporting by Emmanuelle Serres and Rafal Nowak)
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