MAp revenue up 6.3% in 2010

Australia's MAp reports (24-Feb-2011) the following consolidated financial highlights for the 12 months ended Dec-2010:

• Revenue: USD1,009.1 million, +6.3% year-on-year;
• Operating costs: USD1,001.5 million, -31.8%;
• Profit/loss before tax: (USD2.1 million), compared to a loss of USD755.3 million in p-c-p;
• Profit/loss after tax: USD51.9 million, compared to a loss of USD616.8 million in p-c-p;
• Net profit/loss: USD101.1 million, compared to a loss of USD574.3 million in p-c-p. [more]

*Based on the conversion rate at USD1 = AUD0.9972

MAp: "The boards and management believe that MAp is entering 2011 in an excellent position. Sustainable platforms for growth in aeronautical and commercial businesses are supported by increasing traffic across all airports. There are no debt maturities across the business until Dec-2012 and MAp holds approximately AUD755m of cash on its balance sheet. MAp's active management approach will continue to focus on delivering positive outcomes on major business initiatives and driving further operational leverage," Source: Company statement, 24-Feb-2011.