Profits Soar For Owner Of British Airways
Updated: 2012-02-29 22:54:47
Monetary chief Ben Bernanke doused market euphoria over the pace of the US recovery today by warning over the impact of rising oil prices.
Bumper business in Hong Kong and Singapore helped to offset a fall in profits made in India and Korea by the London-based bank, which generates more than three quarters of its profit in Asia.
The company - formed from BA's merger with Iberia last year - saw profits jump to £426million after passenger revenues increased 11 per cent £11.5billion.
Sales rose 13 per cent to £683m, and pre-tax profits rose 15 per cent to £417m. The dividend rose 20 per cent to 6p a share.
The group plans to add 10,000 rooms to Premier Inn and to continue the aggressive expansion of Costa, which has increased its UK store numbers by 158 to 1,375 over the past year.