SeaLink into the red as COVID-19 trashes tourism

Simon EvansSenior reporter

Updated Aug 31, 2020 – 3.17pm, first published at 10.25am

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Key Points

Revenue ($m) 623.7, up 150.7%
Pre-tax profit ($m) 22.6, down-16.0%
Net profit ($m) -13.5, down-162.8%
Final dividend (c) 4.5, down-47.1%, payable on Oct 2

Transport and tourism operator SeaLink Travel Group joined the ranks of companies still paying dividends while accessing substantial JobKeeper payments, after much of its Australian tourism business was either shut down or scaled back in the depths of COVID-19 restrictions.

The company operates Captain Cook cruises on Sydney Harbour, the ferry to tourism hotspot Kangaroo Island in South Australia, ferry services in Queensland and runs the Kingfisher Resort on Fraser Island, but made a big foray into commuter bus services last year with the $635 million acquisition of Transit Systems.

Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide.