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China Southern expects 3Q2010 net profit to surge 1400%

20-Oct-2010 11:45 AM

China Southern Airlines expects (19-Oct-2010) net profit for the nine months ended 30-Sep-2010 to surge 1400% year-on-year to CNY322 million (USD48.5 million) with earnings per share of CNY0.05, according to China Accounting Standards. China Southern attributes the optimistic outlook to increasing demand boosted by the rapid domestic economic recovery and the appreciation of the Chinese yuan against the US dollar. The carrier also increased the weighted average number of shares of the company from 6.7 billion to 8.0 billion during the period. China Southern is scheduled to release its 3Q2010 financial results on 28-Oct-2010. [more]