Shandong Airlines profits double in 3Q, FY2010 profits expected to double

Shandong Airlines revenue jump 39.2% - financial highlights for the three months ended 30-Sep-2010 (according to Chinese Accounting Standards):

• Revenue*: USD331.6 million, +39.2% year-on-year;
• Operating costs: USD263.7 million, +28.3%;
• Operating profit: USD66.9 million, +113.4%;
• Net profit: USD50.8 million, +111.3%;
• Total assets: USD1,309 million, +7.6% when compared with the period ended 31-Dec-2009;
• Total liabilities: USD1,109 million, +2.1%;
• FY2010 forecast:
  • Profit: USD88.8 million to USD106.8 million, +96% to +135%;
  • Earnings per share: USD 22.23 cents to USD 26.73 cents, +96% to +135%.

*Based on the conversion rate at USD1 = CNY6.6585