Cebu Pacific reports profit more than doubled in 2010
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