ANA’s 9-month profit drops 30% despite revenue gains
ANA reported a profit decline for the 9 months through Dec 31, 2018, although it cited an improvement in the December quarter as a positive sign. ANA Holdings posted a net profit of JPY106.8b (US$97m) for the 9-month period. This was down 30% from a JPY152.9b profit in the same period a year earlier. However, ANA said its fiscal Q3 yielded an operating profit of JPY51.4b, which was an improvement of JPY500m year-on-year. “This is a great turning point and a good sign for further profitability,” ANA Holdings CFO Ichiro Fukuzawa said. While revenue was up in the 9-month period, costs also rose. Other factors in the year-on-year decline were one-off items such as a gain last year from the inclusion of LCC Peach as a subsidiary, and a special cost this year related to a US class action settlement. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-01-30/star/ana2019s-9-month-profit-drops-30-despite-revenue-gains
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ANA’s 9-month profit drops 30% despite revenue gains
ANA reported a profit decline for the 9 months through Dec 31, 2018, although it cited an improvement in the December quarter as a positive sign. ANA Holdings posted a net profit of JPY106.8b (US$97m) for the 9-month period. This was down 30% from a JPY152.9b profit in the same period a year earlier. However, ANA said its fiscal Q3 yielded an operating profit of JPY51.4b, which was an improvement of JPY500m year-on-year. “This is a great turning point and a good sign for further profitability,” ANA Holdings CFO Ichiro Fukuzawa said. While revenue was up in the 9-month period, costs also rose. Other factors in the year-on-year decline were one-off items such as a gain last year from the inclusion of LCC Peach as a subsidiary, and a special cost this year related to a US class action settlement. <br/>
