KQ after-tax profit rises by 73p.c. | JamiiForums | The Home of Great Thinkers

Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

KQ after-tax profit rises by 73p.c.

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by ByaseL, Jun 3, 2011.

  1. B

    ByaseL JF-Expert Member

    Jun 3, 2011
    Joined: Nov 22, 2007
    Messages: 2,223
    Likes Received: 22
    Trophy Points: 135
    Daily Nation

    Kenya Airways has reported a 73.9 per cent increase in its profits after tax for the financial year ended March 31.

    The airline recorded an impressive Sh3.5 billion during the period, compared to the Sh2 billion it had for a similar period in 2010.

    The airline’s managing director and CEO, Mr Titus Naikuni attributed the company’s spectacular performance to aggressive route expansion and increased frequencies.

    “We have continued to register impressive results from our strategy and see both passenger numbers and cargo going up,” said Mr Naikuni of the results at an investor briefing in Nairobi Thursday.

    The airline has been on a route expansion programme, especially in Africa, to increase its footprints as international routes become more competitive.

    In the period under review, the listed airline recorded Sh85.8 billion in turnover. This was a 21 per cent increase from last year’s turnover of only Sh70.7 billion.
    Profit before tax for the company increased to Sh5 billion in the 12-month period from the Sh2.6 billion it reported last year.

    Revenue generated from passengers peaked at Sh75.4 billion in the year due to improved world economics.

    Globally, the increase in fuel prices has affected airlines, and Kenya Airways is no exception

    BLUE BALAA JF-Expert Member

    Jun 3, 2011
    Joined: Nov 30, 2010
    Messages: 899
    Likes Received: 6
    Trophy Points: 35
    ATCL by 90% 2010/2011 financial year revealed by the outgoing CEO Mr David Mattaka in the weekend mid night at Miasha Club