February 12, 2019 / 9:37 PM / 6 months ago

Virgin Australia posts 37 pct rise in H1 underlying profit

Feb 13 (Reuters) - Virgin Australia Holdings Ltd posted a 37.1 percent rise in first-half underlying pre-tax profit on Wednesday, more than was forecast, as the strength of its domestic business and forward bookings helped to overcome higher fuel costs.

Australia’s No. 2 airline reported underlying pre-tax profit, its most closely watched measure, of A$112.3 million ($79.69 million) for the six months ended Dec. 31.

The profit exceeded its earlier guidance of an underlying pre-tax profit of at least A$100 million.

On a statutory basis, including one-off gains and losses, profit rose to A$73.8 million, compared with A$4.4 million a year ago. ($1 = 1.4092 Australian dollars) (Reporting by Nikhil Kurian Nainan and Shriya Ramakrishnan in Bengaluru; Editing by Stephen Coates and Grant McCool)

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