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.”
By Chris Druce
Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.
Sudoku
Join the craze and play Sudoku online! |