13-Mar-2018 11:56 AM

Med-View Airlines reports sharp profit growth in 2017

Med-View Airlines reported (08-Mar-2018) the following financial highlights for the 12 months ended 31-Dec-2017:

  • Revenue: NGN36,962 million (USD110.1 million), +41.9% year-on-year;
  • Operating costs^: NGN35,129 million (USD104.6 million), +39.3%;
    • Fuel: NGN10,312 million (USD30.7 million), +27.3%;
    • Aircraft lease: NGN6386 million (USD19.0 million), +60.6%;
  • Profit before tax: NGN1506 million (USD4.5 million), +79.3%;
  • Net profit: NGN1254 million (USD3.7 million), +62.3%;
  • Total assets: NGN19,598 million (USD58.4 million),
  • Cash and cash equivalents: NGN2928 million (USD8.7 million);
  • Total liabilities: NGN12,212 million (USD36.4 million). [more - original PR]

*Based on the average conversion rate at NGN1 = USD0.002979
^Includes Administrative costs

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