KUALA LUMPUR (March 1): Shares of MALAYSIAN AIRLINE SYSTEM BHD [] (MAS) fell in early trade on Thursday after the airline posted net losses of nearly RM1.3 billion in the fourth quarter ended Dec 31, 2011.
At 9.05am, it was down seven sen to RM1.36 with 1.40 million shares done.
The FBM KLCI slipped 0.45 of a point to 1,569.20. Turnover was 72.89 million shares done valued at RM46.74 million. There were 95 gainers, 115 losers and 129 stocks unchanged.
On Wednesday, MAS posted net losses totaling RM1.277 billion in the fourth quarter ended Dec 31, 2011 versus net profit of RM225.92 million a year ago as it severely affected by high fuel costs and non-fuel expenses.
Its revenue was RM3.678 billion, almost unchanged from the RM3.669 billion a year ago. Loss per share was 38.22 sen compared with earnings per share of 6.76 sen.
For the financial year ended Dec 31, 2011, MAS posted net loss of RM2.524 billion compared with net profit of RM234.47 million a year ago. Its revenue was 2% higher at RM13.901 billion compared with RM13.585 billion a year ago.
The group’s full year performance was severely impacted by a 21% increase in expenditure over the previous year (2011: RM16.20 billion versus 2010: RM13.41 billion) attributed to a 33% year-on-year increase in fuel cost (2011: RM5.85 billion versus 2010: RM4.38 billion) and a 15% increase in non-fuel expenses (2011: RM10.43 billion versus 2010: RM9.03 billion).
At 9.05am, it was down seven sen to RM1.36 with 1.40 million shares done.
The FBM KLCI slipped 0.45 of a point to 1,569.20. Turnover was 72.89 million shares done valued at RM46.74 million. There were 95 gainers, 115 losers and 129 stocks unchanged.
On Wednesday, MAS posted net losses totaling RM1.277 billion in the fourth quarter ended Dec 31, 2011 versus net profit of RM225.92 million a year ago as it severely affected by high fuel costs and non-fuel expenses.
Its revenue was RM3.678 billion, almost unchanged from the RM3.669 billion a year ago. Loss per share was 38.22 sen compared with earnings per share of 6.76 sen.
For the financial year ended Dec 31, 2011, MAS posted net loss of RM2.524 billion compared with net profit of RM234.47 million a year ago. Its revenue was 2% higher at RM13.901 billion compared with RM13.585 billion a year ago.
The group’s full year performance was severely impacted by a 21% increase in expenditure over the previous year (2011: RM16.20 billion versus 2010: RM13.41 billion) attributed to a 33% year-on-year increase in fuel cost (2011: RM5.85 billion versus 2010: RM4.38 billion) and a 15% increase in non-fuel expenses (2011: RM10.43 billion versus 2010: RM9.03 billion).
