Kenya Airways posts Ksh 6.9 billion pre tax profits

Kenya Airways, East Africa’s most respected company has announced today a pre tax profit of Ksh 6.9 billion for the year ended March 31st 2006.
The after tax profit has risen by 24% from Ksh3.88 billion the same period last year to stand at Ksh 4.8 billion.
The airline has recorded a Ksh 52.8 billion turnover up from Ks 42.2 billion same period last year representing a 25% increase.
Earning per share before tax and minority interest stood at Ksh 15.06 up from Ksh 11.95 from the same period last year representing a 26% increase.
Earning per share after tax and minority interest stands at Ksh10.45 from Ksh8.40 representing an increase of 24.4% from last year.
Passenger growth went up by 17% to stand at 2.4 million, dividends went up 40% to Ksh 1.75 per share. Breaking the passenger increase into regions, Europe showed a 20% increase due to the success of the B777 aircraft, which currently number three in total.
The airline expects to take a delivery of a fourth B777 in early 2007 in addition to the three new B737-800 planes by the end of 2006.
The strongest growth was registered on african routes with West and Central Africa leading with 26% growth folowed by Southern Africa, Nothern Africa and Eastern Africa at 22%, 21% and 5% respectively.
During the same period, cargo volumes registered a substancial growth of 24% mainly due to more cargo space available on the larger B777 aircraft and increased frequencies of B767 in Africa.
Managing Director Titus Naikuni said the airline had manged to achieve sustained growth in profitablity despite increased competition and high fuel prices.