4-Jul-2011 12:59 PM
NATS profit surges in FY2011
UK's NATS revenue up 3% - financial highlights for the 12 months ended 31-Mar-2011:
- Revenue: GBP777 million, +2.9% year-on-year;
- UK air traffic services: GBP578.2 million, +3.0%;
- North Atlantic air traffic services: GBP21.1 million, -5.0%;
- Airport air traffic services: GBP159 million, +4.5%;
- Operating profit: GBP157.8 million, +37.5%;
- Profit before tax: GBP106 million, +35.9%;
- Profit after tax: GBP86.9 million, +49.6%;
- Capital investment: GBP123 million, -13.4%;
- Net debt: GBP528 million, +1.5%;
- Flights: 2.1 million, -4.5%. [more]
NATS: "Our forecast is for a recovery to these levels by March 2015, representing annual growth of 3.6%. The UK recovery is expected to be slightly lower than the European average reflecting the UK's slower economic recovery, Government austerity measures and recent changes in air travel taxation - all affecting demand for air travel," Company statement. Source: NATS, 01-Jul-2011.