The Cyprus Airways Group published its preliminary consolidated results for the year ending 31 December 2000. The group is made up of Cyprus Airways Ltd., Eurocypria Airlines Ltd., Cyprair
Tours Ltd., Cyprus Airways (Duty Free Shops) Ltd. and Zenon NDC Ltd.
Income for the group, excluding its subsidiary Cyprus Airways (Duty Free Shops) Ltd., rose to CYP 161.950.000 compared to CYP 147.041.000 in 1999, an increase of 10.2% CA’s income rose by 10.1% and Eurocypria’s by 10.4%, attributed to increased number of passengers as well as to the new revised commercial agreements with other airline companies. Operational expenditure, including cost of sales and administration costs rose to CYP 165.2 million, an increase of 14.1% compared to 1999 mainly attributed to increased fuel costs.
Cyprus Airways (Duty Free Shops) Ltd. also showed sales increase reaching CYP 46.2 million, equalling 23.5% compared to 1999.
Pre-tax profits of the group equalled CYP 5.601.000 compared to CYP 8.818.000 in 1999 with after-tax profits for the year equaling CYP 3.928.000 and earnings per share of 3,58 cents, fully distributed earnings per share of 3,23 cents.
The Board will decide on the level of dividend payments its forthcoming meeting.
Tours Ltd., Cyprus Airways (Duty Free Shops) Ltd. and Zenon NDC Ltd.
Income for the group, excluding its subsidiary Cyprus Airways (Duty Free Shops) Ltd., rose to CYP 161.950.000 compared to CYP 147.041.000 in 1999, an increase of 10.2% CA’s income rose by 10.1% and Eurocypria’s by 10.4%, attributed to increased number of passengers as well as to the new revised commercial agreements with other airline companies. Operational expenditure, including cost of sales and administration costs rose to CYP 165.2 million, an increase of 14.1% compared to 1999 mainly attributed to increased fuel costs.
Cyprus Airways (Duty Free Shops) Ltd. also showed sales increase reaching CYP 46.2 million, equalling 23.5% compared to 1999.
Pre-tax profits of the group equalled CYP 5.601.000 compared to CYP 8.818.000 in 1999 with after-tax profits for the year equaling CYP 3.928.000 and earnings per share of 3,58 cents, fully distributed earnings per share of 3,23 cents.
The Board will decide on the level of dividend payments its forthcoming meeting.
Wednesday, 28 March, 2001 - 00:00