Experience Co Limited (ASX: EXP)- EXP share price tumbled despite confirming 51% growth in revenue

  • Aug 29, 2018 AEST
  • Team Kalkine
Experience Co Limited (ASX: EXP)- EXP share price tumbled despite confirming 51% growth in revenue

Experience Co Limited’s (ASX: EXP) stock crashed 14.13% to $0.395 on 29 August 2018, despite reporting 51.1% rise in revenue to $135.3 million

for the year ended 30 June 2018. Normalised earnings before interest, tax, depreciation, amortisation and impairment (EBITDAI) increased 34.8% to $30.2 million, excluding one-off expenses and acquisition costs incurred during FY18.

Net profit after tax was down 28.4% to $6.8 million in FY18 as for the first-time company has experienced decline in Australian Tandem Skydiving business. It was due to adverse weather conditions including substantial amounts of rainfall in third and fourth quarter of fiscal 2018. However, New Zealand Tandem Skydiving has seen 6.3% growth in booking compared to previous year.

The company has completed three acquisitions in financial year 2018 including GBR Helicopters, Big Cat Green Island and Tropical Journeys.

The Board of Directors have declared a final and fully franked dividend of 1 cent per share, payable on 28 September 2018. EPS was 1.34 cps in FY18, down from 2.24 cps in previous year.

Experience Co forecast for FY19 includes total revenue to range between $165 million to $175 million while normalized EBITDA is expected to be within the range of $37 million to $41 million.

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