China Eastern net profit down 28% in H1 2013

By:  
-
Source:
This story is sourced from Pro
See more Pro news »

China Eastern Airlines' attributable net profit for the first half of 2013 declined by 28% to yuan (CNY) 622 million ($102 million) from CNY866 million a year earlier.

Revenue increased by 3.5% to CNY41.6 billion, compared with CNY40.2 billion last year.

Total operating expenses amounted to CNY42.1 billion, an increase of 7.4% compared with CNY39.2 billion in the same period last year, the airline said in a Hong Kong Stock Exchange filing.

Operating profit declined by 93% to CNY135 million for the first six months of 2013. Meanwhile, fuel costs for the period increased by 2.1% year on year to CNY15 billion.

The company's cash and cash equivalents for the period ended 30 June amounted to CNY3.67 billion, compared with CNY5.36 billion a year ago.