China Southern Airlines reports strong profit growth in 2015

China Southern Airlines revenue up 3% - financial highlights for 12 months ended 31-Dec-2015:

• Revenue: CNY111,652 million (USD17,933 million), +2.8% year-on-year;
• • Passenger: CNY100,238 million (USD16,100 million), +3.2%;
  • Cargo and mail: CNY6861 million (USD1102 million), -4.5%;
• Operating costs: CNY101,492 million (USD16,301 million), -4.3%;
• • Fuel: CNY26,274 million (USD4220 million), -30.4%;
• Operating profit: CNY13,438 million (USD2158 million), +183%;
• Net profit: CNY4818 million (USD773.8 million), +101%;
• Passenger yield: CNY0.53 (USD 8.51 cents), -8.6%;
• Cargo yield: CNY1.21 (USD 19.43 cents), -14.8%;
• Total assets: CNY185,989 million (USD29,873 million);
• Cash and cash equivalents: CNY4560 million (USD732.4 million);
• Total liabilities: CNY136,365 million (USD21,902 million). [more - original PR - English/Chinese]

*Based on the average conversion rate at CNY1 = USD0.160615

China Southern Airlines: "It is expected that global economic growth will slightly speed up, but weak recovery will still be the overall trend. The economy of China will possibly become steady and slow down, even touch the bottom gradually, forming the stage bottom of middle and high growth and enter into a relatively stable growth platform. The civil aviation of the world will keep a sound growing trend, and it is expected that the passenger volume of civil aviation in China will continue to grow rapidly. The Group faces rapid development of low cost carriers and high-speed rail and increasingly fierce competition in markets as well. There are both opportunities and challenges." Source: Company statement, 30-Mar-2016.