UPDATE 1-Air China's full-year profit hits highest since 2011 on cargo demand [Reuters]
China Southern Airlines Company Limited (ZNH)
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Source: Reuters
UPDATE 1-Air China's full-year profit hits highest since 2011 on cargo demand | Reuters Reuters Staff 3 Min Read * 2017 profit rises 6.3 percent year-on-year * Booked 2.94 billion yuan in foreign exchange gains * Operational costs rose, led by fuel costs (Updates with impact of Cathay Pacific losses on results, analyst comment) SHANGHAI, March 27 (Reuters) - Air China Ltd on Tuesday posted its strongest profit since 2011, albeit missing analyst forecasts, as a buoyant cargo market and strengthening yuan helped boost earnings. The earnings miss, however, caused its Hong Kong shares to slide more than 3 pct on Wednesday to their lowest since early February, with analysts saying that the operating costs posted by China’s flag carrier were surprisingly high. Air China said 2017 profit attributable to shareholders rose 6.3 percent from a year earlier to 7.24 billion yuan ($1.15 billion). That compared with the 9.22 billion yuan average of 17 analyst estimates in a Thomson Reuters poll. Rev
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