APOLLO Tourism and Leisure released a trading update on the ASX yesterday, stating it expects its H1 FY20 statutory Net Profit After Tax to sit around the $10.5m mark – down from $14.7m in H1 FY19.
Additionally, the underlying Net Profit After Tax is forecasted to be in the order of $11.5m in the first half of FY20, in comparison to $15m in H1 FY19.
The group attributes the decline to “continued subdued global RV sales markets and low margins”, as well as the impact of the bushfires on last-minute bookings over the peak summer holiday period.
The cost of investment in Apollo’s retail operations and guest experience “has also had an impact” compared to FY19.
The half-year financial results will be announced on Tue 25 Feb.
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Source: traveldaily