For QE31/12/2017, AAX reported a net profit of RM84 million as compared to a net loss of RM43 million in the immediate preceding quarter. At the same time, revenue rose 8.5% to RM1.22 billion.
When compared to the same quarter last year (4Q16), revenue rose 4% due to 12% growth in passenger volume. Ancillary revenue per passenger increased by 4% to RM142 year-on-year. The seat load factor was at 83% which was 2 percentage point higher than the same quarter last year. Average fare was down by 8% at RM519 as compared to RM565 achieved in 4Q16. Included in other operating expenses in 4Q17 was provision for doubtful debts of RM11.8 million. The profit before tax for the period was RM135.6 million compared to a profit before tax of RM29.9 million in 4Q16; while the net profit for the period was RM84.4 million compared to a net profit of RM39.0 million in 4Q16
Table: AAX's last 8 quarterly results
AAX's top-line, bottom-line and profit margins are all pointing upwards. Things are beginning to look quite positive for AAX.
Graph: AAX's last 13 quarterly results
AAX has been moving sideways for the past 17 months. A breakout above RM0.50 or below RM0.35 would point the way forward for AAX.
Chart: AAX's weekly chart as at Feb 21, 2018 (Source: Shareinvestor.com)
Based on good financial performance, AAX could be a good stock to consider for a very long-term investment.
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