Qantas Kicks Off Fiscal 2018 With Solid Earnings Growth in the Domestic Business and Jetstar
Qantas kicked off fiscal 2018 on a positive note, reporting fiscal 2018 interim profit before tax of AUD 976 million, a 15% increase on the prior year. At the current pace, the narrow-moat-rated firm is tracking ahead of our estimates. As such, we have lifted our earnings projections slightly, and now forecast an adjusted EPS CAGR of around 1% during the next five years, which assumes 3% revenue growth, partially offset by modest cost inflation, and rising depreciation. Notwithstanding, we maint...
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