15-Sep-2010 2:26 PM

Comair revenue down 1.3% but profits up in FY2010

Comair revenue down 1.3% - financial highlights for the 12 months ended 30-Jun-2010:

  • Revenue: USD423.2 million, -1.3% year-on-year;
    • Airline: USD418.8 million, -1.4%;
  • Operating costs: USD382.9 million, -3.2%;
  • Operating profit before depreciation: USD40.3 million, +22.2%;
    • Airline: USD38.4 million, +25.5%;
  • Operating profit: USD20.2 million, +11.9%;
  • Profit before tax: USD17.4 million, +9.1%;
  • Net profit: USD15.1 million, +95.7%;
  • Assets: USD284.4 million, +18.9%;
  • Current liabilities: USD144.8 million, +36.6%;
  • Cash and cash equivalents: USD52.6 million, +21.0%. [more]

*Based on the conversion rate at USD1 = ZAR7.11185

Comair: “Our industry is very sensitive to business activity levels and economic growth rates in South Africa, and we have only seen a very moderate recovery from the 2009 recession. We therefore don’t anticipate much growth in the market but do anticipate continuing growth in market share, based on the strength of our brands and our competitive pricing,” Company statement. Source: Comair, 14-Sep-2010.

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