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The Australian Travel company, Sealink Travel Group Limited (ASX:SLK) has released its half-yearly results for FY 2019. The company has reported an underlying NPAT of $13.1m for the half-year period which is 15.9% higher than the previous corresponding period (pcp).
The companyâs Earnings Before Interest, Tax, Depreciation and Amortisation increased by 8.0% to reach $25.7m for the period as compared to pcp. The companyâs revenue rose by 32.1% to arrive at $130.4 Mn in the first half of FY19 from the levels of $98.7 Mn, reported in the 1H FY18. This rise which was predominantly on account of the inclusion of the Fraser Island operations for the full six-month period.
The first half of Financial Year 2019 has seen a continued rise in the companyâs product offerings to the very lucrative Australian destinations.
SeaLink Queensland & Northern Territory (excluding Fraser Island) performed better than last year, recording an EBITDA before allocations of $14.7m compared to $14.2m for the corresponding period last year. The Queensland operations continued to experience strong growth in the Stradbroke Island, Townsville and Darwin operations.
EBITDA for the Captain Cook Cruises business (NSW and WA) unit was disappointing decreasing by $2.0m to $0.6m primarily as a result of trading losses associated with new ferry services, continuing difficult economic conditions in Western Australia, a general softening across some international markets and a tightening of domestic consumer spending.
SeaLink South Australiaâs operations were impacted by disruptions to services to Kangaroo Island due to unseasonal weather in December 2018, the out of water maintenance and survey for the MV Spirit of Kangaroo Island and a slight decline in results from the PS Murray Princess compared with the prior year.
The company has declared a fully franked Interim dividend of 6.5 cents per share which represents a 50.7% return of after-tax net profit to shareholders. The record date for the same shall be March 19, 2019, and the Payment Date shall be April 2, 2019
The management is happy with the cost management & optimisation program, which it anticipates will enable the company to build profit margin in a typical operating environment, and the management is continuing to actively pursue value-accretive acquisition opportunities that have a strong strategic fit with the companyâs transport and tourism focus.
Now, let us have a quick look at Sealink Travel Group Limitedâs stock performance and the return it has posted over the last few months. The stock last traded at a price of $3.98, down by 1.728% during the dayâs trade with a market capitalisation of ~$ 410.79 Mn as on 19 February 2019. The counter opened the day at $4.000, reached the dayâs high of $4.050 and touched the dayâs low of $3.950 with a daily volume of ~62,972. The stock has provided a Year Till Date return of -3.34% & also posted returns of -2.41%, -5.37% & -1.22% over the past six months, three & one-months period respectively. It had a 52-week high price of $4.500 and touched 52 weeks low of $3.690, with an average volume of ~36,308 approximately.
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