China Southern expects net profit increase "over 5000%" in 1H2010

China Southern Airlines stated (28-Jul-2010) it expects to report a net profit increase of "over 5000%" in 1H2010 (six months to Jun-2010) on a year-on-year basis. During 1H2009, the carrier reported a net profit of CNY38 million (USD5.6 million). The carrier added that the number of issued shares in the company increased from 6.6 million to 8.0 million on a year-on-year basis. [more]

China Southern Airlines: "During the period, the demand for aviation and transportation services increased gradually as a result of rapid domestic economic rebound. The company actively boosted its revenue level by taking advantage of such improved market and achieved the steady growth of its operational efficiency. Further, the net profit attributable to the equity holders of the company for the first half of 2010 was substantially increased, due to the completion of the disposal of its equity interest in MTU Maintenance Zhuhai Co Ltd and a lower base figure for the corresponding period in 2009," Company Statement, 28-Jul-2010.