Up 17% after reporting - was umming and arring about buying prior to results but was worried on impact of virus/bushfires/drought etc (you name it). Still i have shares in Forager and they hold this stock so indirectly benefited. Do i buy now that the bad news is out of the way? I like their statement "The Group’s Chairman, Bob East, said: “The strategic review initiatives have provided the Group with a stronger balance sheet and improved cost control focus" + the CEO (John OSillivan) is the old head of the Australian Tourism Commission
EXPERIENCE CO LIMITED (ASX: EXP) 1H20 RESULTS Experience Co Limited (ASX: EXP) today released its Appendix 4D and Financial Report for the half year ending 31 December 2019, delivering Underlying EBITDA of $9.1 million on revenue from continuing operations of $60.3 million.
Key Highlights
• Statutory net loss after tax of $7.1 million (1H19: $7.4 million profit) after non-cash impairment of $8.0 million
• Underlying EBITDA from continuing operations of $9.1 million (1H19: $15.0 million), reflects volume decreases across Skydiving and GBR Experiences
• Skydiving volume down 9.3% to 84,085 (1H19: 92,748) with weather conditions, and bushfires (smoke haze) impacting operations from Byron Bay to Great Ocean Road, and into Queenstown New Zealand
• GBR Experiences earnings in 1H20 impacted by cyclical downturn in Tropical North Queensland tourism market which saw Cairns airport arrivals down by 3.3% on prior period
• Balance sheet improvement, 31 December 2019 pro forma net debt of $7.3 million following the divestment of Great Barrier Reef Helicopters and non-core asset sales continuing
• Bushfires and COVID-19 (‘coronavirus’) expected to adversely impact 2H20, the Group continues to monitor ongoing developments, and be proactive in mitigating the impact on our key markets and operations
• Strategy remains to reset the business in FY20 with cost rationalisation and process improvement focus areas for 2H20.
The Group’s Chairman, Bob East, said: “The strategic review initiatives have provided the Group