Kelsian Group has announced the sale of its tourism portfolio to Journey Beyond for $161 million. Simultaneously, the company reported a substantial increase in net profit for the first half of the year, reaching $52.5 million. This represents a 32.2 per cent increase compared to the previous period. Kelsian Group is a provider of public transport services and tourism experiences, operating bus, ferry, and rail networks in Australia and internationally. They aim to connect communities and enhance tourism through safe and reliable transportation solutions.
The company has revised its earnings guidance upwards, now expecting earnings before interest, tax, depreciation, and amortisation (EBITDA) to be between $303 million and $312 million for the full year. This adjustment reflects the company’s strong performance and strategic asset sales. The updated forecast indicates positive momentum and enhanced financial prospects for the remainder of the year.
This new guidance is an increase from the previously stated range of $297 million to $310 million, which was initially set at the end of 2023. The revised figures demonstrate Kelsian’s confidence in its operational efficiency and market position. The sale of the tourism portfolio is expected to streamline operations and allow greater focus on core transport services.
