Why is the Helloworld (ASX:HLO) share price slipping today?

why is the helloworld asxhlo share price slipping today

The Helloworld Travel Ltd (ASX: HLO) share price is slipping today, down 2.6% in afternoon trade. At the time of writing, the Helloworld share price seems to have recovered slightly, sitting at $2.30, down 2.13%.

We take a look at the ASX travel share’s financial results for the half-year ending 31 October (H1 FY21).

What financial results did Helloworld report for H1 FY21?

The Helloworld share price is slipping today after the company reported an 85.2% decline in revenue year-on-year, with revenue of $29.6 million down from $200 million.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) came in at a loss of $6.5 million. This is significant compared to a positive EBITDA of $48.6 million in H1 FY20.

The company reported a loss after tax of $21.5 million. This was well down from the profit after tax of $32.9 million in the prior corresponding period (PCP). Earnings per share (EPS) were negative 9.8 cents, down 154% year-on-year.

Historically a reliable dividend payer, Helloworld will not pay an interim dividend on the half-year.

Indeed, it is a difficult situation facing the travel industry. Helloworld sold, downsized, or temporarily shuttered a number of its businesses during the half-year. That includes operations in Los Angeles, Manila, Mumbai, Shanghai and other centres…

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