25-Apr-2012 10:37 AM

Shandong Airlines reports sharp profit decline in 1Q2012

Shandong Airlines revenue up 18% – financial highlights for three months ended 31-Mar-2012 (according to Chinese Accounting Standards):

  • Operating revenue: CNY2389 million (USD378.3 million), +17.5% year-on-year;
  • Operating costs: CNY2310 million (USD366.9 million), +27.0%;
  • Operating profit: CNY79.2 million (USD12.6 million), -63.3%;
  • Net profit: CNY62.9 million (USD10.0 million), -62.9%;
  • Total assets: CNY9700 million (USD1540 million), -0.7% when compared to period as at 01-Jan-2012;
  • Total liabilities: CNY7588 million (USD1205 million), -1.8% when compared to period as at 01-Jan-2012.

*Based on the average conversion rate at USD1 – CNY6.2976 for the period

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