The ASX is broken

I am just going to call it, the ASX is broken or at least when it comes to the travel industry.

Can someone explain to me how you can have a company making year on year profit with reports like

Helloworld Travel Ltd has reported a significant improvement in its financial performance for the year ended June 30, 2024, with a 77% increase in total profit after tax. The company announced a final dividend of 6 cents per share, maintaining the same payout as last year, showcasing continued returns to shareholders. This robust financial growth is marked by a 62.5% increase in Total Transaction Value and a substantial 93.7% rise in profit before income tax from continuing operations.

And

Helloworld Travel Limited reported a boom year in FY24, with its total transaction value seeing a 62.5 per cent increase to $4.2 billion. It saw a 37.5 per cent year-on-year increase to $228.2 million in 2024 and reported an underlying EBITDA of $67.5 million, up $23.3 million from last year, or 52.9 per cent.

Is now pretty much back to pre-covid levels and looking like they are going bust with share pricing at pandemic levels?