Rainbow Tours tracks worst day in over 4 years after earnings miss

By Reuters News

** Shares in Rainbow Tours RBW.WA fall around 10% after the Polish tour operator's Q2 earnings missed analysts' expectations

** The results were "significantly below consensus," Trigon's Grzegorz Kujawski says, primarily due to erosion of profitability in the company's core tour operating unit

** Rainbow's H1 net profit falls over 23% y/y to 65.0 million zlotys ($16.93 million), while EBITDA is down 22% to 90.6 million zlotys

** Kujawski adds results reflect increased competition and the Middle East conflict's impact on jet-fuel prices and some destinations

** Rainbow shares head for their biggest daily fall in over 4-1/2 years and are the worst performer on Poland's mid-cap index .MWIG40

($1 = 3.8403 zlotys)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.