China South­ern Air­lines earns huge net profit

The Financial Daily - - MARKET SUMMARY -

BEI­JING: China South­ern Air­lines Com­pany Lim­ited China South­ern) posted an up­surge in prof­its in 2010 from the low base in the pre­vi­ous year due to re­bound­ing de­mand.

In its an­nual busi­ness re­port filed with the Shang­hai Stock Ex­change, China South­ern said its net profit in­creased 1,423.62 per­cent to 5.8 bil­lion yuan (885 mil­lion U.S. dol­lars) last year com­pared with 381 mil­lion yuan in 2009.

China South­ern, the nation's largest car­rier by pas­sen­ger trans­port ca­pac­ity, said its earn­ings per share jumped to 0.70 yuan last year, com­pared with 0.05 yuan for 2009. The com­pany re­ported a loss of 0.74 yuan per share in 2008.

The Guangzhou-based com­pany at­trib­uted its profit up­surge in 2010 to rapid do­mes­tic econ­omy ex­pan­sion, con­sump­tion up­grade and China's suc­cess­ful host­ing of Shang­hai Expo and the Asian Games. APP

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