ANA Q1 net income drops 29% on growth-planning costs
ANA saw its Q1 net profit decline 29% to JPY11.4b (US$104.9m), compared to JPY16.1b in the year-ago period, partly as a result of higher costs as the airline prepares for a growth phase in 2020. ANA Holdings said net profit for the quarter ending June 30 was “generally in line” with its outlook released in April. As a result, the company has not changed its forecast of a JPY108b net profit for the full fiscal year. Consolidated quarterly revenue rose 3.2% year-over-year to JPY500.5b. However, costs were up 4.2% to JPY484.3b, resulting in operating profit falling 19.4% to JPY16.1b. In the air transportation segment, revenue increased 3.1% to JPY439.7b, the result of higher demand during this year’s extended Golden Week holiday period, and generally strong performance of domestic and international passenger services. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-31/star/ana-q1-net-income-drops-29-on-growth-planning-costs
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ANA Q1 net income drops 29% on growth-planning costs
ANA saw its Q1 net profit decline 29% to JPY11.4b (US$104.9m), compared to JPY16.1b in the year-ago period, partly as a result of higher costs as the airline prepares for a growth phase in 2020. ANA Holdings said net profit for the quarter ending June 30 was “generally in line” with its outlook released in April. As a result, the company has not changed its forecast of a JPY108b net profit for the full fiscal year. Consolidated quarterly revenue rose 3.2% year-over-year to JPY500.5b. However, costs were up 4.2% to JPY484.3b, resulting in operating profit falling 19.4% to JPY16.1b. In the air transportation segment, revenue increased 3.1% to JPY439.7b, the result of higher demand during this year’s extended Golden Week holiday period, and generally strong performance of domestic and international passenger services. <br/>
