Virgin’s profits go sky high

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Virgin Australia (ASX:VAH) has reported its group underlying profit before tax rose about 142 per cent to $103 million for the half year to December 2017.

Revenue increased by 15 per cent on the same time last year to $191 million.

Its segment ebit (EBIT) increased by 9.8 per cent to $56 million.

No dividends were declared during the half year.

Virgin Australia’s board today announced they have decided not to take the company private and have offered small investors holding unmarketable parcels of shares a buy-back facility. 

Shares in Virgin Australia (ASX:VAH) are trading 3.85 per cent lower to $0.25.