Bursa Alert
Global Market
NewsAirAsia 4Q net profit down 19% y-o-y to RM245m
Page 1 of 1
AirAsia 4Q net profit down 19% y-o-y to RM245m
by Cals Thu 27 Feb 2014, 10:08
AirAsia 4Q net profit down 19% y-o-y to RM245m
Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com
Wednesday, 26 February 2014 19:58
KUALA LUMPUR (Feb 26): AirAsia Bhd reported net profit of RM245.4 million, down 19% year-on-year (y-o-y) from RM303.4 million.
Revenue for the quarter under review was flattish at RM1.35 billion, compared to RM1.36 billion in the previous year’s same quarter.
The group highlighted that its operating revenue had declined by 2% y-o-y to RM315.0 million due to an increase in routine aircraft C-Check and lower fares.
The lower profit for the quarter was attributed to unrealised forex losses on its US dollar denominated borrowings as the US dollar strengthened against the ringgit.
Net profit for the full year had also declined to RM364.1 million for 12MFY13, from RM789.6 million in 12MFY12, while cumulative revenue rose to RM5.19 billion from RM4.95 billion.
Going forward, the group expects to further reduce its costs by approximately 7.5%.
“The outlook for 2014 is strong as we have set targets for ourselves in ensuring the company remains lean through various cost initiatives.
“Some of the cost savings will be seen from operational synergies between AirAsia and AirAsia X, headcount reduction as the company looks at aggressively focusing on automation at current LCCT and KLIA2 when it is completed among other significant cost initiatives,” said group chief executive officer Tony Fernandes.
Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com
Wednesday, 26 February 2014 19:58
KUALA LUMPUR (Feb 26): AirAsia Bhd reported net profit of RM245.4 million, down 19% year-on-year (y-o-y) from RM303.4 million.
Revenue for the quarter under review was flattish at RM1.35 billion, compared to RM1.36 billion in the previous year’s same quarter.
The group highlighted that its operating revenue had declined by 2% y-o-y to RM315.0 million due to an increase in routine aircraft C-Check and lower fares.
The lower profit for the quarter was attributed to unrealised forex losses on its US dollar denominated borrowings as the US dollar strengthened against the ringgit.
Net profit for the full year had also declined to RM364.1 million for 12MFY13, from RM789.6 million in 12MFY12, while cumulative revenue rose to RM5.19 billion from RM4.95 billion.
Going forward, the group expects to further reduce its costs by approximately 7.5%.
“The outlook for 2014 is strong as we have set targets for ourselves in ensuring the company remains lean through various cost initiatives.
“Some of the cost savings will be seen from operational synergies between AirAsia and AirAsia X, headcount reduction as the company looks at aggressively focusing on automation at current LCCT and KLIA2 when it is completed among other significant cost initiatives,” said group chief executive officer Tony Fernandes.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» AirAsia 2Q profit down by more than half
» AirAsia’s 1Q net profit up nearly sixfold
» AirAsia revenue up, profit down
» AirAsia Q2 profit falls to RM104.3m
» Forex losses eat into AirAsia X profit
» AirAsia’s 1Q net profit up nearly sixfold
» AirAsia revenue up, profit down
» AirAsia Q2 profit falls to RM104.3m
» Forex losses eat into AirAsia X profit
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|