Kenya Airways recorded improved profitability in the half year ended 30 September 2011 compared to the prior year. This was realised despite the challenging economic and geopolitical environment that continues to impact the aviation industry. Factors that negatively impacted the airline industry in the period included the high fuel prices, Eurozone crisis and shocks in Japan.
Regarding the network, Kenya Airways successfully launched two new destinations namely N'Djamena and Ouagadougou during the period under review.
The Board is pleased to announce that Kenya Airways achieved a half year turnover of KShs 54.9 billion which is 33.3% increase on prior year turnover of Kshs. 41.2 billion. This resulted in KShs 2.034 billion profit after tax compared to prior year profit of KShs 1.436 billion. This resulted in a net profit margin of 3.7% which is an improvement from the 3.5% net margin achieved during the previous period. Earnings per share increased to Kshs. 4.40 from KShs 3.11 realised in the prior year.
Management continued to invest time and resources towards maintaining high levels of safety in all its operations during the period.
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