Looks like a nice and strong result to me.
To put things into context, a +7.8% increase in underlying profit on pcp was achieved during a semester that was affected by the introduction of the new aeronautical pricing schedule for FY18-FY22 and by the fuel disruption occurred in September.
To say that, under the best case scenario, the underlying profit in JH18 will merely match the corresponding JH17 result (which is what the updated guidance implies), looks almost ridiculously conservative to me.
This is certainly not a Management that can be accused of overpromising.
IMHO & DYOR
Looks like a nice and strong result to me. To put things into...
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