Thursday, November 25, 2010

#Flash* AirAsia 3Q net profit surges 152% to RM327.28m

KUALA LUMPUR: AIRASIA BHD [] posted a strong set of results for the third quarter ended Sept 30, 2010, with earnings surging 152% to RM327.28 million from RM130.07 million a year ago.

The low-cost carrier said on Thursday, Nov 25 there was RM142.9 million of unrealised translation gains in the quarter, a result of the significant strengthening of the ringgit against the US Dollar during the period. These gains are partially offset by losses from the change in the fair value of currency derivative

Revenue rose 34% to RM987.6 million from RM739.7 million. Earnings per share were 11.90 sen compared with 5.3 sen.

'The revenue growth was supported by 12% growth in passenger volumes and average fare that was 22% higher at RM173 as compared to RM142 achieved in 3Q09. Seat load factor was three percentage points higher at 78% compared to 75% in the same period last year,' it said.

AirAsia said the group's core operating profit for the period was RM216.1 million, which was a 539% increase from a year ago.

Its core operating profit margin for the period was at 21.9%, 17.3 percentage points higher than the 4.6% core operating profit margin a year ago.

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