Aeroflot boosts net profit 23% in 9 mths
MOSCOW. Nov 13 (Interfax) - Aeroflot Russian Airlines boosted net profit 23% in January-September 2009 year-on-year to 7.592 billion rubles under Russian accounting standards, the Russian flag carrier reported.
Revenue declined 7.5% to 66.9 billion rubles.
The figures are better than those the company presented previously, which put net profit at 5.98 billion rubles and the revenue decline at 9%.
The company said earnings grew because operating income rose 9.4%, or more than operating costs, which grew 9.2%.
Aeroflot financial highlights to RAS ('000 rubles):
| 9M 2009 | 9M 2008 | |
| Sales revenue | 66 925 542 | 72 328 319 |
| Cost of sales | (53 488 491) | (59 534 911) |
| Gross profit | 13 437 051 | 12 793 408 |
| Commercial expenditure | -2 925 470 | -3 776 694 |
| Administrative costs | -2 823 739 | -2 706 719 |
| Sales profit | 7 687 842 | 6 309 995 |
| Pretax profit | 10 581 170 | 9 116 462 |
| Net profit | 7 591 552 | 6 141 526 |
Short-term payables stood at 14.67 billion rubles on September 30, with debt to suppliers and contractors at 6.6 billion rubles and loans at 1.4 billion rubles. Short-term receivables were 31.4 billion rubles.