•In 2005, consolidated revenue reached
P809 million – a 12% growth as compared to 2004.
•Corresponding net income increased by 18% from P110 million to P137 million.
•Equity in net income of associates increased dramatically by 55% from P77
million in 2004 to P119 million in 2005. This is in sharp contrast as compared
to years 2003 – 2004 where a 32% drop resulted.
Financial Performance
•In-flight catering services went up 20% from P453 million to P545 million.
•While total assets have risen to P2.3 billion or an increase of 6%, only
a 0.25% increase in consolidated liabilities was reported.
•Total equity stands at P2.034 billion – a 7% increase from 2004.
•Comparison of basic earnings per share shows P0.0952 in 2005 as against
P0.0797 in 2004, representing a 19% jump.
•Net increase in cash and cash equivalents amounted to P19 million.
•Consolidated return on net sales, investment and equity increased by 7%,
20% and 20% respectively.
•In July 2005, the Company declared cash dividends of P0.02 per share to
the stockholders of record as of July 29, 2005.
