Qantas Airways Limited (ASX:QAN) has more than doubled its profit in the 2011 financial year, its best result since the global financial crisis.
Australia’s largest airline says its annual profit rose 115 per cent to $250 million, missing some analysts’ expectations for an increase of up to $320 million.
However Qantas’ preferred measure of financial performance, underlying pre-tax profit, increased 46 per cent to $552 million, coming in higher than both the company’s and analyst expectations.
No earnings guidance has been provided for the year ahead due to a number of factors such as uncertainty in global economic conditions and the changes currently taking place at the airline.
Qantas has not declared a final dividend.
