Bangkok--Dec 1--Thai Airways International
Thai Airways International Public Company Limited announced its financial results for fiscal year 2005 ending September 2005, reporting a net profit of 6,777 million baht.
Mr. Somchainuk Engtrakul, Member of the Board of Directors Acting as President, Thai Airways International Public Company Limited, announced that THAI’s financial results for fiscal year 2005 (October 2004 — September 2005) resulted in total revenues from the sale of goods and the rendering of services of 162,488 million baht and THAI realized a net profit of 6,777 million baht, a decrease of 3,300 million baht or 32.7 percent compared to last fiscal year. This translated into earnings per share of 4.0 baht for fiscal year 2005 through to the end of September 2005 compared to earnings per share of 6.14 baht during last year’s fiscal year.
The company’s revenues from the sale of goods and the rendering of services increased from last year by 9,885 million baht or 6.5 percent. This resulted from an increase in profits primarily in the area of passenger services, due to expansion of the company’s network to more destinations in efforts to reach more areas around the world, and the increased flight frequencies to support increased passenger traffic, such as Bangkok-London, Bangkok-Frankfurt, Bangkok-Munich, and other routes. Operating expenses increased from 132,105 million baht to 151,664 million baht, when compared to the same period last year at 19,559 million baht or 14.8 percent.
Factors adversely impacting results include abnormally high fuel price that increased by 50.1 percent over the same period last year. Increased personnel expense was a result of a one-time change for implementing an early retirement program and the retro-effect implementing a new salary structure. However, the company experienced a foreign exchange profit at 1,470 million baht due to stronger baht currency. End.