Alpha Publishes Preliminary Unaudited Results For The Year Ended 31 January 2007
Airports Group Plc published its preliminary unaudited results for the year ended 31 January 2007. Commenting on the results, Martin Flower, chairman, said: "The group is in a much stronger position as a result of the management actions taken during the year and the changes to the executive team. We can now focus on developing the business, improving our performance and building on critical mass".
Financial Highlights
| 2006/07 | 2005/06 | |||
| Revenue | £561.5m | £550.9m | ||
| Underlying operating profit* | £19.5m | £21.3m | ||
| Operating profit | £8.0m | £20.5m | ||
| Underlying profit before tax* | £16.0m | £18.5m | ||
| Profit before tax | £5.2m | £18.4m | ||
| Exceptional items | £(10.8)m | £(0.1)m | ||
| Underlying earnings per share* | 4.84p | 5.80p | ||
| Basic earnings per share | (0.17)p | 5.74p | ||
| Proposed final dividend | 1.25p | 3.2p | ||
| *Stated
before exceptional items and including the post tax results of
associates and joint ventures (see note 11 to the preliminary statement) 1Restated (see note 12 to the preliminary statement) | ||||
Operational Highlights
- Airline Services: revenue down 1% to £296.3m; underlying operating profit up 33% to £14.4m
- Airport Services: revenue up 5% to £265.2m; underlying operating profit down 51% to £5.1m
- First phase conclusions of strategic review:
- Retain and leverage scale from dual operational structure
- Drive growth in higher margin markets and improve returns in developed markets
- Focus on innovation and differentiation
- Develop strategic airline and airport customer relationships and consumer facing brands
- Number of major, high profile contracts secured both in UK and internationally:
