Tuesday 19 February 2019
The Board has declared a fully franked interim dividend of 6.5 cents per share, payable on 2 April 2019, which is in line with previous interim dividend.
SeaLink Travel Group (ASX: SLK) (“SeaLink” or “the Company”) today announced underlying Net Profit After Tax (NPAT) of $13.1m for the half year ended 31 December 2018 (1H FY19), representing an increase of 15.6% on NPAT of $11.3m for the half year ended 31 December 2017 (1H FY18).
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased 8.0% to $25.7m in 1H FY19, compared with an EBITDA of $23.8m for 1H FY18.
Revenue increased 32.1% to $130.4m in 1H FY19 from $98.7m in 1H FY18, which was primarily attributable to the inclusion of the Fraser Island operations in the full six-month period.
Managing Director Jeff Ellison said “The first half of 2019 was one of continued expansion of our product offerings to iconic Australian destinations, with the hospitality, touring and marine transport operation on Fraser Island performing well and the new service to Bruny Island performing ahead of expectations.”.
“SeaLink’s strategy of creating a balance between its tourism and transport operations has helped create a resilient earnings base in a more subdued stage of the domestic and international tourism environment cycle.” Mr Ellison said.
“We are continuing to actively pursue value-accretive acquisition opportunities that fit with our core transport and tourism focus.” Mr Ellison said.
SeaLink’s strategy of creating a strong geographic diversified tourism and transport operator to iconic tourism destinations, with solid commuter markets, continues to position it well for sustainable earnings and growth. Despite more subdued trading conditions in the tourism sector, we anticipate that SeaLink’s 2H FY 19 NPAT will be higher than that which was achieved in 1H FY 19, assuming average seasonal and current business conditions remain over the remainder of FY 2019.
We are pleased with our disciplined cost management, which we anticipate will enable SeaLink to build profit margin in a normal operating environment, and we are continuing to actively pursue value-accretive acquisition opportunities that have a strong strategic fit with our transport and tourism focus.
For more information please contact:
Andrew Muir, Chief Financial Officer, SeaLink Travel Group 0423 027 745
Helen McCombie Citadel Magnus 0411 756 248