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LOT Makes Profit In 2013 For First Time Since 2008
LOT Makes Profit In 2013 For First Time Since 2008
WARSAW, Poland, April 2, 2014 /PRNewswire/ -- LOT reported a profit for the first time since 2008, closing 2013 with a net profit of PLN 26 million ($8.6 million U.S. dollars) and an operating result of minus PLN 4 million ($1.3 million). The result is PLN 138 million ($45.6 million) better than assumed in the Restructuring Plan.The main reasons for this result are a consistently implemented transformation process in the company and the 'Dreamliner effect'.
Back in November 2012, LOT announced the 2013 financial results would be better than expected in the Restructuring Plan. Today's presentation of detailed figures, following an audit, has been a pleasant surprise.The figure achieved was PLN 26 million ($8.6 million) towards minus PLN 196 million ($64.8 million) assumed in the Plan.Thus, the result has been improved by more than PLN 222 million ($73.3 million).
LOT has gotten closer to where the core business will be profitable. The carrier ended with just a minus PLN 4 million ($1.3 million), compared to a planned minus of PLN 142 million ($46.9 million).This meant more than a PLN 138 million ($45.6 million) improvement, of which PLN 119 million ($39.3 million) LOT earned itself.
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LOT Makes Profit In 2013 For First Time Since 2008
WARSAW, Poland, April 2, 2014 /PRNewswire/ -- LOT reported a profit for the first time since 2008, closing 2013 with a net profit of PLN 26 million ($8.6 million U.S. dollars) and an operating result of minus PLN 4 million ($1.3 million). The result is PLN 138 million ($45.6 million) better than assumed in the Restructuring Plan.The main reasons for this result are a consistently implemented transformation process in the company and the 'Dreamliner effect'.
Back in November 2012, LOT announced the 2013 financial results would be better than expected in the Restructuring Plan. Today's presentation of detailed figures, following an audit, has been a pleasant surprise.The figure achieved was PLN 26 million ($8.6 million) towards minus PLN 196 million ($64.8 million) assumed in the Plan.Thus, the result has been improved by more than PLN 222 million ($73.3 million).
LOT has gotten closer to where the core business will be profitable. The carrier ended with just a minus PLN 4 million ($1.3 million), compared to a planned minus of PLN 142 million ($46.9 million).This meant more than a PLN 138 million ($45.6 million) improvement, of which PLN 119 million ($39.3 million) LOT earned itself.
(....)
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