National carrier Air New Zealand has unveiled a big slump in full year, normalised earnings to $145m, with bottom line net profits sinking 90pc to just $21m.Analysts were forecasting a profit within the range of $65m to $113m. Last year's profit was $218m.
Key highlights
- Normalised earnings* before taxation of $145 million
- Normalised earnings* after taxation of $118 million
- Operating revenue down 1.2 per cent to $4.6 billion
- Passenger demand down 7.6 per cent
- Net cash position $1.6 billion, up 22 per cent
- Final dividend of 3.5 cents
New Zealand Herald Thursday 27 August 2009
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