We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alpha Airports | LSE:AAP | London | Ordinary Share | GB0000281328 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 109.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6051X Alpha Airports Group PLC 30 January 2006 ALPHA AIRPORTS GROUP PLC ("Alpha" or "the Group") PRE-CLOSE TRADING UPDATE Alpha will be announcing preliminary results for the year ended 31 January 2006 on Thursday 30 March 2006. Ahead of entering its close period, the Board is providing a trading update. Following significant business development and new contract set-up costs in the first half, which saw pre-tax profit decline 42% to #6.2 million, a stronger performance in the second half will ensure that pre-tax profit before exceptional items and impairment costs for the year are slightly ahead of last year's #17.4 million level on an IFRS basis. Group turnover will be over 12% ahead of last year. Trading The UK market continued to face increasing competitive pressures during the year and the management team is focused on building a stronger position in the domestic market and improving margins through a programme of cost reduction and continued innovation. Whilst the UK, where Alpha is the leading provider of catering and retailing solutions for the airline and airports industry, will remain the cornerstone of the Group's operations, the Group has benefited from the strategic decision to drive international expansion. As a result, the impact of lower UK margins was significantly offset during the second half by the continued development of the Group's international businesses. Flight Services As previously reported, set-up costs for the new American Airlines flight catering contract and the new Blue Sky Service impacted on the first half UK performance. There was a good UK profit recovery in the second half, but full year profit for this business will be down when compared with last year's performance. The international flight service businesses are performing better, with Amsterdam and Australia now close to breakeven after last year's significant losses. The recent acquisitions in Romania and Bulgaria have been successfully integrated and are trading above expectation. Retail UK sales remain strong with 8% growth forecast, up on last year's reported increase of 7.4%. Like-for-like sales grew 6.5%, with transaction spend per " duty-free" shopper also increased 5%. However, the increased numbers of passengers at the airports where Alpha operates have not translated into a similarly increased number of shoppers. Our key priority in 2006 is to attract more passengers into Alpha's retail outlets With weaker than anticipated sales growth, higher rent percentages (as some of our most successful airport contracts benefited from tranched sales incentives), and higher business development costs including a major IT investment, UK Retail profits will be significantly below last year's level. International retail sales and profits continue to perform strongly. Exceptionals An exceptional cost of #2.5 million incurred by a recent reorganisation of UK Flight Services, driven by the successful introduction of the Blue Sky Service, new facilities at Manchester and the previously reported loss of the Thomsonfly UK contract, will result in annual savings of #3 million. It has come to light very recently that the Group may have been the victim of a fraud by a third party. If this information proves to be correct it may result in a significant exceptional loss to the Group. Initial investigations show the potential loss is of the order of #0.7 million but it could be as high as #2.5 million. The investigation is ongoing and the Board anticipates having a clearer view of the size of the suspected loss by the time of the preliminary announcement. Kevin Abbott, Chief Executive, commented: "It is encouraging that our second half underlying profit has rebounded from the depressed level reported for the first half. In our growing but highly competitive core UK market, we remain focussed on continuing to enhance our offers and reducing operating costs so as to convert our continued sales growth into future profits recovery. We are particularly encouraged with our international businesses which continue to grow from strength to strength. With strong Group finances in place, we will continue to seek out further international development opportunities." 30 January 2006 Enquiries: Alpha Airports Group Plc 020 8580 3200 Kevin Abbott, Chief Executive Heather McRae, Finance Director College Hill 020 7457 2020 Mark Garraway Stephen Davie www.alpha-group.com This information is provided by RNS The company news service from the London Stock Exchange END TSTIIFSRLRIIVIR
1 Year Alpha Airports Chart |
1 Month Alpha Airports Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions