Rex profits hit

Shares in Regional Express fell nearly 10 per cent after the regional airline warned full year profit could be down by as much as 40 per cent. It said the outlook was negative given "increasing government taxes and regulations dampening domestic expenditure resulting in slowing passenger demand", and rising fuel costs. Net profit slumped 33 per cent to $9 million in the six months to December 31, with revenue down 2.7 per cent to $135.4 million.

Shares in Regional Express fell nearly 10 per cent after the regional airline warned full year profit could be down by as much as 40 per cent. It said the outlook was negative given "increasing government taxes and regulations dampening domestic expenditure resulting in slowing passenger demand", and rising fuel costs. Net profit slumped 33 per cent to $9 million in the six months to December 31, with revenue down 2.7 per cent to $135.4 million.

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