CHINA / Companies |
China Southern says to return to profit in 1st half(Reuters)Updated: 2007-07-26 08:50 China Southern Airlines Co Ltd expects to return to profit for the first half of 2007 due to improved business operation, as demand for civil aviation services continue to grow in China. The Chinese airline said in a statement late on Wednesday that the company expected to record a profit for the first half in accordance with Chinese accounting standards, as it also benefited from the revaluation of the Chinese yuan against dollar and other foreign currencies. The company recorded a loss of 835 million yuan (US$110.5 million) for the first half of 2006, but it did not make an earnings forecast for the first six months of 2007. |
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