Latest NewsProfits fall at Alpha(29 September 2005 17:04)Airline caterer Alpha Airports has revealed a drop in profits despite a jump in turnover for the first six months of the year. Describing the performance as disappointing, the company’s chief executive Kevin Abbott blamed the drop on start-up costs associated with new UK in-flight contracts. Turnover in the half year to 31 July increased 12.4% to £268.8m (2004/5: £239.2m) due to strong growth in the number of international passengers using UK airports. Pre-tax profit fell 34.7% to £6.2m (2004/05: £10.1m). Abbot said: “Despite our first half result and a weakening UK retail environment, we anticipate a strong second half recovery and are cautiously optimistic for overall group progress for the full year.” Article continues below
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