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Feb 21, 2013

FLASH: Qantas posts improved half year results

Qantas has reported a recovery in its first half to 31 December financial results to a statutory net profit after tax of $111 million compared to $42 million in the previous correspondi

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Qantas has reported a recovery in its first half to 31 December financial results to a statutory net profit after tax of $111 million compared to $42 million in the previous corresponding half, but still well short of the $241 million reported for the first half of FY11.

Its preferred measure of profitability, underlying profit before tax, rose by 10% to $223 million, compared to the the first half FY12 result of $202 million.

Qantas long haul continued to lose money, but at a much reduced rate, and Qantas shareholders will again receive no interim dividend, extending the interim drought into a fourth year, despite the recent share buyback program.

This is the ASX summary.

There will be further reports later this morning.

Ben Sandilands — Editor of Plane Talking

Ben Sandilands

Editor of Plane Talking

Ben Sandilands has reported and analysed the mechanical mobility of humanity since late 1960 - the end of the age of great scheduled ocean liners and coastal steamers and the start of the jet age. He’s worked in newspapers, radio and TV in a wide range of roles as a journalist at home and abroad for 56 years, the last 18 freelance.

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