IAG: third-quarter operating profit slightly up
(CercleFinance.com) - International Airlines Group posted a slight rise in quarterly operating profit on Friday, citing the impact of higher fuel prices and foreign exchange headwinds.
IAG said its operating profit for the three months to end-September rose to 1.46 billion euros, up from 1.45 billion last year.
For the first nine months of the year, the airline's operating profit before exceptional items rose to 2.57 billion euros, from 2.40 billion in the same period of 2017.
Total revenue grew by 5.1% to 18.35 billion euros in the first nine months of 2018.
The parent company of British Airways and Iberia also announced an interim dividend of 14.5 euro cents per share, and said that this week it has completed a second 500 million euros share buyback program.
Looking ahead, IAG said that it expects its operating profit before extraordinary items for 2018 to increase by around 200 million euros from the 2.95 billion euros of 2017.
Both passenger unit revenue and non-fuel unit costs are expected to improve at constant currencies over the full year, it said.
Its London-listed shares are up 1.8% at 598 pence in early-morning trading today.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
IAG said its operating profit for the three months to end-September rose to 1.46 billion euros, up from 1.45 billion last year.
For the first nine months of the year, the airline's operating profit before exceptional items rose to 2.57 billion euros, from 2.40 billion in the same period of 2017.
Total revenue grew by 5.1% to 18.35 billion euros in the first nine months of 2018.
The parent company of British Airways and Iberia also announced an interim dividend of 14.5 euro cents per share, and said that this week it has completed a second 500 million euros share buyback program.
Looking ahead, IAG said that it expects its operating profit before extraordinary items for 2018 to increase by around 200 million euros from the 2.95 billion euros of 2017.
Both passenger unit revenue and non-fuel unit costs are expected to improve at constant currencies over the full year, it said.
Its London-listed shares are up 1.8% at 598 pence in early-morning trading today.
Copyright (c) 2018 CercleFinance.com. All rights reserved.