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1time warns of lower profits in six months to Jun-2010

23-Aug-2010 1:15 PM
1Time Holdings stated it expects to report lower earnings per share in the six months ended 30-Jun-2010 (to be released on 30-Aug-2010) with earning per share anticipated at ZAR 3.65-7.00 cents and headline earnings per share of ZAR 5.25-8.00 cents (I-Net Bridge/Engineeringnews, 20-Aug-2010). 1time achieved headline earnings per share of ZAR 24.22 cents in the six months ended Jun-2009. The airline has previously warned that while it witnessed passenger and revenue growth in the first half of 2010, this had largely been offset by increases in fuel and airport costs. The carrier added that its maintenance subsidiary, Safair Technical (Jetworx), was unprofitable in the six months to Jun-2010.