Virgin Australia reported on Friday that its first-half profits dropped by 48 percent, and said it would delay the delivery of new Boeing 737MAX aircraft following the drop in airfares because of tough conditions in the domestic aviation market.

The airline posted an underlying profit before tax of A$42.3 million ($32.55 million) for the 6 months ended December 31, versus the A$81.5 million it reported in the same period a year ago.

On a statutory basis, including restructuring charges associated with a cost-savings programme, it reported a loss of A$A21.5 million, compared with a A$62.5 million profit in the previous year.

Bundesbank said on Monday that Germany's strong growth will likely continue in the spring.

Germany's economy rose 0.6 percent in the first quarter of the year. That was up from the previous quarter's 0.4 percent growth.

According to Bundesbank's monthly report, the construction and service sector will continue to grow.

Demand from both domestic and foreign markets should support industry, the central bank said.

Higher home sales strengthened Toll Brothers Inc.'s quarterly profit by 40 percent.

The U.S.-based luxury homebuilder said that its net income increased to 124.6 million, or 73 cents per share, in the second quarter ended April 30 from $89.1 million, or 51 cents per share, a year earlier.

Toll said that its previous forecast of 6,700 to 7,500 homes for this year has been raised to 6,950 and 7,450 homes.

Compare revenue climbed 22.2 percent to $1.36 billion.

Nigeria's National Bureau of Statistics said on Tuesday that the Nigerian economy declined 0.52 percent in the first quarter of the year compared to a 0.67 contraction in the corresponding quarter in the previous year.

Nigeria's GDP registered its first annual contraction in 25 years after falling by 1.5 percent in 2016 due to lower oil revenue and a shortage of hard currency.

The statistics bureau said the average oil production in the OPEC member state stood at 1.83 million barrels per day in the first quarter.

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May 23 at 22:36 UTC

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