Regional Express – 1HY18 results

Click here to see my original post on Rex. It was a solid half year result for Rex. No surprises and my views are pretty much the same as my last post. A few points to highlight: The passenger and load factor increases were the main driver of the 60% increase in profit before tax.Read More

Unexplained volatility

I’ve owned Regional Express’ (REX) for a while now and lately I’ve noticed that the share price movements have been more volatile than usual. After yesterday’s massive 11.3% gain, I wanted to see whether the recent share price volatility made any sense. In terms of significant announcements made by the company; the FY17 financial results,Read More

REX – Sweet sweet dividend

The long wait for this dividend will make it extra sweet for long suffering shareholders. I think the real positive from this dividend is the signal that it sends. Given management’s conservative nature and for them to pay out nearly 87% of FY2017 net profit after tax as dividend (10 cents), they must believe thatRead More

Regional Express results for FY16

Meh … is what I felt after going through Rex’s results for FY16. The FY2016 loss of $9.5 million (mainly due to impairments) wasn’t too surprising given what shareholders were told at the half year.  However, the underlying net profit of $3 million was disappointing as they have gone backwards from the half year (whichRead More

Significant win for REX

In my last update for Rex, I noted that I was going to hold my position till I see a trend reversal in passenger numbers.  Recently Rex had their AGM and announced a few interesting developments which I think may reverse the declining passenger numbers, amongst other things. The important bits worth noting are: RexRead More

Flying through the fog …

Regional Express FY2015 results Rex recently announced its FY2015 results and it was a mixed result with both favourable and unfavourable elements.  Let’s start with the bad news: Passenger numbers were down again. YOY it fell another 2.7% and this is the 7th year of continuous fall in passenger numbers.  I am convinced that theRead More

Good things come in small packages…

Regional Express Holdings As a general rule, I stay away from investing in the aviation sector given its tough and volatile business conditions.  But on rare occasions like this one, I bend the rules. Regional Express is Australia’s largest regional airline based in Mascot, NSW.  It was formed by merging the old Hazelton and KendellRead More