Qantas reports $1.7b after-tax loss as pandemic woes deepen

Qantas has reported a $1.7 billion statutory after-tax loss for the 2021 financial year, in which COVID-19 outbreaks kept planes grounded and delayed the airline’s long recovery from the pandemic.

The result, which follows a $1.9 billion loss last year and a $840 million profit in 2019, came as revenue fell 58 per cent compared to 2020 – a fall of $12 billion compared to its pre-pandemic result in 2019.

Qantas is yet to start the long recovery from the pandemic. Credit:James Brickwood

On an underlying basis, Qantas reported a $1.8 billion loss in its first full year in the COVID-19 pandemic, compared to a $124 million profit in 2020.

More to come

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PHOTOS: Community members contest mask mandate during Douglas County School Board meeting

Community members attended a contentious meeting of the Douglas County Board of Education in Castle Rock on Tuesday, Aug. 24, 2021. People from the community gathered to voice opposition to a mandate that students wear masks in the county’s schools during the 2021-22 school year.

The district decided last week to reaffirm its decision to require masks for students ages 2 to 11, along with the staff who works with these age groups despite the county commissioners choosing to opt-out.

Ulta Beauty Lifts FY21 Outlook, Shares Up 5%

Beauty retailer Ulta Beauty Inc. (ULTA) on Thursday raised its outlook for fiscal year 2021. Shares gained near 5% in the extended trading session.

The company now expects earnings per share of $14.50 to $14.70 and revenues of $8.1 billion to $8.3 billion. Analysts polled by Thomson Reuters expect the company to report earnings of $12.28 per share on revenues of $7.88 billion in fiscal 2021.

Previously, the company expected earnings of $11.50 to $11.95 per share for full year 2021 and net sales between $7.7 billion and $7.8 billion.

Opinion | The Anti-Gay Agenda

By Charles M. Blow

Opinion Columnist

S.Korea c.bank lifts policy rate off record low as demand heats up

SEOUL, Aug 26 (Reuters) – South Korea’s central bank raised its policy rate on Thursday, becoming the first major Asian economy to do so in the pandemic amid concerns record-low monetary settings are overheating demand.

The Bank of Korea’s monetary policy board raised the benchmark interest rate by 25 basis points to 0.75%, as expected by 16 of 30 analysts surveyed by Reuters.

Governor Lee Ju-yeol’s news conference will be broadcast at 0220 GMT.

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India reports 46,164 new COVID-19 cases in last 24 hours

NEW DELHI (Reuters) – India reported on Thursday 46,164 new COVID-19 cases in the last 24 hours, the government said in a statement.

Hays PLC FY21 Operating Profit Before Exceptional Items Declines; Group Fees Down 8%

Hays PLC (HAS.L) reported that its fiscal 2021 operating profit declined by 31%, or 30% on an actual basis, driven by the significant 79.2 million pounds like-for-like reduction in net fees. Turnover was down 6%, or down 5% on an actual basis, with net fees decreasing by 8% on both an actual and like-for-like basis. Group fees were significantly impacted by the pandemic. The Board expects to restart ongoing special dividends in fiscal 2022.

For the year ended 30 June, 2021, profit before tax was 88.1 million pounds compared to 86.3 million pounds, last year. Basic earnings per share after exceptional charges was 3.67 pence, an increase of 17% from 3.14 pence. Before exceptional items, operating profit was 95.1 million pounds compared to 135.0 million pounds, prior year. Basic earnings per share before exceptional items decreased by 30% to 3.67 pence from 5.28 pence.

Fiscal year turnover was 5.65 billion pounds compared to 5.93 billion pounds, last year. Net fees declined to 918.1 million pounds from 996.2 million pounds.

CRH PLC H1 Profit Rises; H2 EBITDA To Be Ahead Of Record Prior Year – Quick Facts

CRH PLC (CRH,CRH.L) said it recorded a positive first-half performance with sales up 15% from prior year. EBITDA improved 25% with continued margin expansion in all divisions. Based on this, the Group expects second-half Group EBITDA to be ahead of a record prior year.

First-half profit before tax increased to $1.05 billion from $518 million, last year. Earnings per share, in cents, was 99.5 compared to 51.0. EBITDA was $2.0 billion, up 25%. Revenue increased to $14.04 billion from $12.21 billion.

The Board has decided to increase the interim dividend to 23.0 cents per share, an increase of 4.5% on prior year.