MINATO (dpa-AFX) - ANA Holdings Inc. (ALNPY.PK), the parent company of Japan's All Nippon Airways, on Wednesday reported lower first-quarter earnings, as higher operating revenue was more than offset by increased fuel cost and other operating expenses.
Net income attributable to owners of the parent declined to 19.411 billion yen or 35.56 yen per share from 22.953 billion yen or 43.90 yen per share a year earlier.
Income before income taxes decreased to 24.564 billion yen from 35.919 billion yen in the prior-year quarter.
Operating income fell to 20.782 billion yen from 36.786 billion yen, as cost of sales rose to 590.110 billion yen from 456.915 billion yen and selling, general and administrative expenses increased to 61.837 billion yen from 55.000 billion yen.
Ordinary income declined to 22.513 billion yen from 35.919 billion yen a year earlier.
The company recorded a special gain of 2.051 billion yen from the sale of investment securities during the quarter.
Operating revenues grew 22.6% to 672.729 billion yen from 548.701 billion yen a year earlier.
For the full year, ANA Holdings expects operating revenue to increase 9.1% to 2.770 trillion yen. The company continues to expect operating income of 150 billion yen, down 31%,and net income attributable to owners of the parent to decline 43.2% to 96 billion yen, or 209.26 yen per share.
In Tokyo, ANA Holdings shares rose 2.58% before closing at 3,221 yen.
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