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Cebu Pacific reports profit more than doubled in 2010

21-Mar-2011

Cebu Pacific reported revenue rose 25% year-on-year in 2010, with net profit up more than 100% to USD158.4 million. Shares in Cebu Pacific rose 0.7% in trading on Friday, in another mixed day for Asian LCC shares. Tiger Airways shares were 6% higher, Virgin Blue gained 3%, but Air Asia and SpiceJet shares both fell.

Cebu Pacific financial highlights for the 12 months ended 31-Dec-2010:

  • Revenue*: USD665.7 million, +24.8% year-on-year;
  • Operating costs: USD518.1 million, +12.4%;
  • Operating profit: USD147.6 million, +103.9%;
  • EBITDAR margin: 34.9%, +5.7 ppts;
  • Net profit: USD158.4 million, +112.5%;
  • Passenger numbers: 10.7 million, +21%;
    • International: 2 million, n/a;
  • Assets: USD1143 million, +40%;
  • 2011 forecast:
    • Passenger numbers: 12 million, +12.1%.

*Based on the conversion rate USD1 = PHP43.7

Selected PEA daily share price movements (% change):  18-Mar-2011


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