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IAG: stock dives after FY results

( - The IAG (International Airlines Group) share is plunging on Friday morning, down almost 10% in early trading, after the airline group published annual results, saying that it would not be able to provide a precise 2020 earnings target because of uncertainties relating to the coronavirus outbreak.

The parent company of British Airways and Iberia, amongst other carriers, has reported 2019 operating profit excluding extraordinary items that is down 5.7% at 3.29 billion euros, despite revenues increasing by 5.1% to 25.5 billion euros.

Based on FY EPS that is down almost 40% at 86.4 euro cents, the Anglo-Spanish group will propose a final dividend of 17 cents, bringing the total pay-out for the past fiscal year to 31.5 cents.

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