Qantas Profit UP
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Qantas Profit UP
Just reported by the SMH. One would think for a change that Dixon would put a stop to the doom and gloom. Perhaps if his attitude over the years was more positive, the shareprice may not have languished the way it has and the market put it where Margaret Jackson now says it should have been? Has there been a hidden agenda?
Qantas on track for 40% profit lift this year
February 8, 2007 - 10:55AM
Qantas has forecast an increase in full year earnings of up to 40 per cent, after posting a slight rise in first half profit.
Net profit for the first half rose just 1.7 per cent on the prior corresponding period to $358.7 million.
The company also declared a special dividend of 15 cents.
Qantas forecast full year fuel costs to be around $600 million higher than the previous full year at about $3.5 billion.
Qantas chief executive, Geoff Dixon, said oil prices remained volatile, with prices a few weeks ago reaching $US50 a barrel, before moving up to the current price of around $US60.
"On current forecasts, we expect our full year fuel costs to be around $3.5 billion, over $660 million higher than the prior full year," Mr Dixon said.
"At these levels, it is imperative we continue to seek efficiencies across all sections of our business," he said.
But the company has again upgraded its guidance for its full year result.
"We believe that the full year result will be around 30 to 40 per cent higher than last year's result subject to fuel costs not increasing significantly, demand continuing to grow and cost reductions not achieved in the first half being realised in the second half."
In December, Qantas upgraded its annual profit guidance, saying it expected its pre-tax profit to rise by between 25 and 30 per cent in 2006/07, on the back of strong trading conditions and lower jet fuel prices.
Qantas reported a pre-tax profit of $671 million for the 2005/06 year, with its net profit falling 30 per cent to $479.5 million after fuel costs soared.
February 8, 2007 - 10:55AM
Qantas has forecast an increase in full year earnings of up to 40 per cent, after posting a slight rise in first half profit.
Net profit for the first half rose just 1.7 per cent on the prior corresponding period to $358.7 million.
The company also declared a special dividend of 15 cents.
Qantas forecast full year fuel costs to be around $600 million higher than the previous full year at about $3.5 billion.
Qantas chief executive, Geoff Dixon, said oil prices remained volatile, with prices a few weeks ago reaching $US50 a barrel, before moving up to the current price of around $US60.
"On current forecasts, we expect our full year fuel costs to be around $3.5 billion, over $660 million higher than the prior full year," Mr Dixon said.
"At these levels, it is imperative we continue to seek efficiencies across all sections of our business," he said.
But the company has again upgraded its guidance for its full year result.
"We believe that the full year result will be around 30 to 40 per cent higher than last year's result subject to fuel costs not increasing significantly, demand continuing to grow and cost reductions not achieved in the first half being realised in the second half."
In December, Qantas upgraded its annual profit guidance, saying it expected its pre-tax profit to rise by between 25 and 30 per cent in 2006/07, on the back of strong trading conditions and lower jet fuel prices.
Qantas reported a pre-tax profit of $671 million for the 2005/06 year, with its net profit falling 30 per cent to $479.5 million after fuel costs soared.
Nunc est bibendum
Has there been a hidden agenda?
when are mainline gonna hire?
More requests for leave to be given back next roster, and a mate was told the other day by scheduling "if we couldn't get you to do this trip, we were in a lot of trouble".
Even the Chief Pilot said in the last newsletter that 2007 will see "hiring of flight crew for the first time in quite a while" (or words to that effect).
Fingers crossed shmoo!
TL
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Quote... "Has there been a hidden agenda?"
I think it is fairly safe to say that we are watching a play in which the script was written a long time ago.
I think it is fairly safe to say that we are watching a play in which the script was written a long time ago.
I note that profit in the first half has increased 1.7 percent, but that the full year figure is expected to increase by 40 percent, absent unforseen events.
You would have to have a very accurate crystal ball to make such a prediction, corporate perfomance doesn't usually change that fast.
You would have to have a very accurate crystal ball to make such a prediction, corporate perfomance doesn't usually change that fast.
Last edited by Sunfish; 8th Feb 2007 at 04:20.
TL,
If it makes you feel any better, the Classic SO's have 10 PLH, 3 BLH and 9 RLH for this bid period. Not sure abut the A330, but I'm sure they have their fair share of reserve over there as well. The most junior of the classic SO's have done 1 pattern line in 18 months -- the ones a bit more senior have done 3 patterns in 2 years. At least the Hajj keeps things interesting. I'm not complaining though, getting paid to sit at home is my dream job!
ruprecht.
If it makes you feel any better, the Classic SO's have 10 PLH, 3 BLH and 9 RLH for this bid period. Not sure abut the A330, but I'm sure they have their fair share of reserve over there as well. The most junior of the classic SO's have done 1 pattern line in 18 months -- the ones a bit more senior have done 3 patterns in 2 years. At least the Hajj keeps things interesting. I'm not complaining though, getting paid to sit at home is my dream job!
ruprecht.
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Sounds like your all in for a big bonus then, perhaps a copy of Darth's autobiography...
PS: Hope its OK to call him Darth, or is that privilege reserved for staff only?
PS: Hope its OK to call him Darth, or is that privilege reserved for staff only?
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Does anyone remember when Darth said he could not guarantee job security for other QF employees and in fact not even his own if the takeover went ahead .
However,when the details came out for the takeover there was a contract for him and it was as if it was a surprise to him and that he had no idea they wanted him to stay on.
It's contradictions like that and other statements here and there that make you wonder how long this has taken to set up and how long some people have known about them .
The fact that this was announced just before Christmas when people have a lot of things on their minds as well as the hug and kiss between MJ and Darth at the announcement looked as they they had finally got their wish.
However,when the details came out for the takeover there was a contract for him and it was as if it was a surprise to him and that he had no idea they wanted him to stay on.
It's contradictions like that and other statements here and there that make you wonder how long this has taken to set up and how long some people have known about them .
The fact that this was announced just before Christmas when people have a lot of things on their minds as well as the hug and kiss between MJ and Darth at the announcement looked as they they had finally got their wish.
G'day ruprecht,
I still don't understand how that works myself, seems silly for you blokes to be sitting around doing bugger all while others are busy. Though I noticed a few Classic guys are coming to the -400 soon, and the Airbus might start to pick up again by years end with a couple of -200s coming. I'm not complaining about being busy, more flying means more $$$, and I'm still rotating myself.
Just trying to think positively (shock horror) for my dear mate shmoo and any other QF hopefuls out there.
Cheers
I still don't understand how that works myself, seems silly for you blokes to be sitting around doing bugger all while others are busy. Though I noticed a few Classic guys are coming to the -400 soon, and the Airbus might start to pick up again by years end with a couple of -200s coming. I'm not complaining about being busy, more flying means more $$$, and I'm still rotating myself.
Just trying to think positively (shock horror) for my dear mate shmoo and any other QF hopefuls out there.
Cheers
Hanoi, what mr. Dixon has said, is that in the second half of the Qantas accounting year, Qantas is going to earn 50% + 40% = 90% of last years entire profit in a mere six months.
In other words, the profits from 2008 onwards are going to be 180 percent of the previous years profits (allowing for extraordinary items). Now how can this be?
You can't have a slack six months and then make it all up unless there are extraordinary items. So either QF's profits are distorted by extraordinary items or profits are going to be double current levels, in which case the bid price is about right.
In other words, the profits from 2008 onwards are going to be 180 percent of the previous years profits (allowing for extraordinary items). Now how can this be?
You can't have a slack six months and then make it all up unless there are extraordinary items. So either QF's profits are distorted by extraordinary items or profits are going to be double current levels, in which case the bid price is about right.
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Of course Sunfish we all realise that QF does not have people of your calibre and therefore their half yearly report could not possibly make sense.I suggest that you immediately contact QF and offer your management services for a suitable package of course.I'm sure Darth will be waiting for your call.....
On the other hand perhaps the new owners intend to move QF HQ to the Hague and pay bugger all tax.
On another note I'm still waiting for your input on the report that SIA and the Singapore Government lobbied against Jetstar Asia gaining access to a number of destinations in both China and Indonesia.
Could it be that the Singapore Government protects SIA and it's profitable routes?
Don't they know about the Sunfish economic theory of free markets and the danger of protectionism ?
The Singapore government is also waiting for your call.
On the other hand perhaps the new owners intend to move QF HQ to the Hague and pay bugger all tax.
On another note I'm still waiting for your input on the report that SIA and the Singapore Government lobbied against Jetstar Asia gaining access to a number of destinations in both China and Indonesia.
Could it be that the Singapore Government protects SIA and it's profitable routes?
Don't they know about the Sunfish economic theory of free markets and the danger of protectionism ?
The Singapore government is also waiting for your call.
Last edited by lowerlobe; 8th Feb 2007 at 20:24.
I'm quite sure that Singapore protects its profitable routes, however all that does is screw the Singaporean public the same way Qantas is screwing us. Two wrongs don't make a right.
You guys are as protected as Koalas.
You guys are as protected as Koalas.
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Sunfish....I'm in shock...You have admitted that the Singapore Government protects SIA !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Up to now you have singled out QF for that behaviour but now there is the possibility that other countries do that as well for their own carriers.
Imagine the novelty of that concept Sunfish ,a sovereign country protecting their own interests...who would have thought!!!!
Well then ,unless other countries abandoned this practice you would have to be a few sausages short of a BBQ if you were to suggest Australia should do anything different wouldn't you Sunfish?
Up to now you have singled out QF for that behaviour but now there is the possibility that other countries do that as well for their own carriers.
Imagine the novelty of that concept Sunfish ,a sovereign country protecting their own interests...who would have thought!!!!
Well then ,unless other countries abandoned this practice you would have to be a few sausages short of a BBQ if you were to suggest Australia should do anything different wouldn't you Sunfish?
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Sunfish
Qantas did not say 40% , they said believed 30% - 40% would be the full year result ( obviously achievable )and is it based on PBT or net profit.
It would appear that Qantas , with all it's resources and expertise , has got something as fundamental as it's profit forecast wrong ( the ASX may have something to say about that ) and only Sunfish can get it right.
Think I know who is right.
I think Roaming Wolf gave some good advice on another thread about who is the " idiot " ....the idiot or the one who argues with the idiot...
Qantas did not say 40% , they said believed 30% - 40% would be the full year result ( obviously achievable )and is it based on PBT or net profit.
It would appear that Qantas , with all it's resources and expertise , has got something as fundamental as it's profit forecast wrong ( the ASX may have something to say about that ) and only Sunfish can get it right.
Think I know who is right.
I think Roaming Wolf gave some good advice on another thread about who is the " idiot " ....the idiot or the one who argues with the idiot...
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Hey Sunfish,
I thought "kangaroos" actually ! A bit more appropriate in a number of ways... Might find ourselves served up medium rare at some fancy restaurant, where todays corporate leaders dine !!! Might even have Neil "the pony tailed one" cooking in the kitchen... I know Darth likes his goats cheese...
I thought "kangaroos" actually ! A bit more appropriate in a number of ways... Might find ourselves served up medium rare at some fancy restaurant, where todays corporate leaders dine !!! Might even have Neil "the pony tailed one" cooking in the kitchen... I know Darth likes his goats cheese...
