LuxairGroup 2018 profit up 32%; warns of ‘sharp decrease’ in 2019
LuxairGroup has posted a E12.5m (US$14m) full-year net profit, up 32% year-over-year, but president and CE Adrien Ney has warned of a “sharp decrease” for 2019 because the group faces “enormous pressure” in a complicated environment. “We managed to increase all our activities in 2018…but operating growth and profitability no longer go hand in hand, due to a sharp rise in costs and pressure on profit margins,” Ney said. He went on to describe LuxairGroup as a strong company, with a sound balance sheet, adding: “We know how to overcome these difficulties, and despite a sharp decrease forecasted for 2019, I am confident about the future.” In 2018, LuxairGroup generated a E592.7m turnover, up 10.7% on 2017. However, group operating profits plummeted from E2m to E764,000. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-16/unaligned/luxairgroup-2018-profit-up-32-warns-of-2018sharp-decrease2019-in-2019
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LuxairGroup 2018 profit up 32%; warns of ‘sharp decrease’ in 2019
LuxairGroup has posted a E12.5m (US$14m) full-year net profit, up 32% year-over-year, but president and CE Adrien Ney has warned of a “sharp decrease” for 2019 because the group faces “enormous pressure” in a complicated environment. “We managed to increase all our activities in 2018…but operating growth and profitability no longer go hand in hand, due to a sharp rise in costs and pressure on profit margins,” Ney said. He went on to describe LuxairGroup as a strong company, with a sound balance sheet, adding: “We know how to overcome these difficulties, and despite a sharp decrease forecasted for 2019, I am confident about the future.” In 2018, LuxairGroup generated a E592.7m turnover, up 10.7% on 2017. However, group operating profits plummeted from E2m to E764,000. <br/>
