QF Half Year Profit Announced
 

About Qantas - Media Room - Media Releases

Some selected bits

This solid half yearly profit coupled with Qantas set to celebrate their 90th birthday this year, QF is starting to fire up.

The worlds oldest continually operating aviation company also hold the best on time performance in Australia for 2009. This applies to both on time departures and on time arrival.

Good job everyone at the mighty Q, keep up the great work! :ok:

You must be daft. I've just waded through all the underlying profit crap in all the stuff posted on the ASX, and it says there is no more standard profit guidance being given only some new form of horse**** that says it really made $267 million not $90 million like they had to report to be legal, and yet can't pay a dividend when last February when QAN paid 6 cents a share on a profit of $288 million. What the ****. I've had no dividend since then, even though they say they are making an underlying profit nearly three times bigger than the $90 million they actually reported.

Wonder if they will invite some Pilots or engineers to the 90th Birthday bash....you know some of the folk who have actually helped the Company to make it to 90 years....... oh foolish me, it will just be for the leeches and hangers on!!! Just like the 85th bash.

3.87% profit on revenue is not that flash. Thats a sneeze away from making a loss! :ouch:

And what about return in investment :confused:

If you're not happy there blueloo, leave.

If you feel unappreciated, see a councillor or something.

blueloo,Everyone who works at QF has helped achieve that result not just pilots and engineers.

Jabawocky,considering the economic climate a profit is a profit.How many other airlines posted a loss?
It's been said before about creative accounting.I wonder how much Jetstar operating costs covered by the parent is offset by the revenue made by jetstar?

It would be interesting to see both airlines operating under their own steam:oh:

Ultergra
You make 'vely' funny funny joke. Ha ha.

You should be a comedian. Maybe they will pay you double?

RedTbar: I thought everyone else got an invite? What you mean you didnt either? Astonishing! :}

Interesting yes, but not particularly helpful for the bottom line of the Qantas group.

I hope he flies an aircraft better than he understands financial accounting. :ugh:

Jabba, the pre-tax profit it is actually 1.3% margin on total revenue of $6.9 Bn.

Which, at the current share price, equates to a 0.96% return on share holder investment!!

QAN margin is extremely "thin". Fortunately increased demand for air travel should see improved results in the current half year.

RedTBar, the Jetstar versus Qantas debate is irrelevent as JetStar is merely a business unit within Qantas/QAN - the financial results reflect the consolidated performance of the entire Group.

If your suggestion that JetStar under performed financially were correct, the same arguement could be used to cut or terminate low yield Qantas flights and the group should concentrate only on high yield, high profitability flight sectors.

And we all know that can't happen.........

But you are correct, Qantas made a profit and the prognosis for the future must be for improved financial performance.

Highlights of Result - Operational
�� Effective capacity management in Qantas and Jetstar
�� Qantas reduced 9.6%, Jetstar increased 32.9%

Highlight alright!

I love this bit from the media release:

In other words they've found a way to try and fool the public that $90m is actually $267m. I'd bet anything that if this measure gave a lower result then it wouldn't have been reported.

The rhetoric and spin in this press release is unbelievable - must be a flurry at QCC at the moment as management types scramble to get their kpi's adjusted.

Anyway the market hasn't fallen for it with the share price down 24c.

No wonder they have not spun off the Frequent Flyer business yet, they can't afford to, it is propping the rest of the Company up.

In the December (first) half Qantas's frequent-flyer operations accounted for more EBIT (a record $157m) than either the core Qantas business ($60m) or Jetstar (also a record at $121m).

Qantas headwinds remain | The Australian

Very disappointing!!!! The Shareholders not impressed!!!! Writing is on the wall methinks. I always thought that any airline which bought the A380 would be in trouble in a downturn. Exactly whats happened. Cant make money when they are only half full. Lets hope the world gets back on its feet in next few years.......& QF stays accident free!!!!!!!

75th Birthday invite + H1 Profit
 

I remember being in LHR when the 75th birthday bash occurred.
As CC we were invited along, but in uniform, so we could serve the canapes
We respectfully declined.
These happenings are only for the groundhogs.Much back slapping and wet pockets from people who have never met a qantas customer.
As far as profit goes,profit no matter how small, is still preferable to a loss

I suspect that's why there will be no interim dividend Jaba!:{

Is that why VA went with the 777 ? :D

Torres

I was too scared to calculate it on the pre tax ammount, the gross profit before the write downs of extra ordinary things (whatever it is they have hidden in there) is a far better gauge of how the company is trading in my simple mind.

Its still a scary result either way.

J:ok:

A few of the old biased prejudices being expressed here......

The facts are simple:

• Qantas weathered the GFC and returned a marginal profit;
• Qantas financial performance in the first half was infinitely better than the majority of world airlines - British Airways for example;
• With increasing demand for air travel, one would expect Qantas second half performance should show a significant improvement.

No doubt Qantas benefited from the strong performance of the Australian economy and minimal impact of the GFC on Australia.

statutory profit $90m
underlying profit $267m
difference between the two figures
1/ stat profit is signed off by the auditors
2/ underlying profit is not signed off by auditors.
a mate of mine (accountant) has always said underlying profit is creative accounting by the in house bean counters as directed by the board. the most important part is 'underlying'. note the word 'lying', says it all.
imagine the screaming from QF if the ATO suddenly decided to use underlying profit as the taxable base, figures would suddenly change!
maybe word should be changed to 'overlying'

Amazing, is the current management actually looking at the company from a long term perspective?

Flogging it off this year and adding $157m to the bottom line, would be the norm for most of the current crop of "greed id good" CEO's. Not to worry that next year the company would suffer a $100m loss as a result.