Australia's Webjet hits highest since June on positive HY results, outlook

Web Travel

16/11/2022 23:53

** Shares of Webjet  WEB.AX  climb as much as 11% to A$6.24,
hitting their highest since June 9     
    ** The travel co posts a reversal to net profit after tax of
A$4 mln ($2.70 mln) for the half year, from a loss of A$60 mln
in the prior corresponding period  urn:newsml:reuters.com:*:nFWN32C3SB
    ** Also records HY revenue of A$175.8 mln, as compared with
A$55.2 mln, due to a turnaround in travel conditions and higher
domestic travel demand 
    ** Says earnings before interest, tax, depreciation and
amortisation for FY23 is expected to be higher than it was
pre-pandemic
    ** Citi says implied EBITDA outlook to be more than 8% above
consensus, while UBS forecasts to be above 4% 
    ** Adds that 2H23 profitability for its business-to-consumer
segments are expected to be consistent with 1H23 
    ** Shares set for best day since Aug 31, if gains hold 
    ** Webjet stock up 8.7% this year, as of last close
    ($1 = 1.4837 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))