Virgin Blue Holdings Limited (ASX:VBA) has moved from a profit to a net loss of $67.8 million in fiscal 2011, but flagged an improved performance for the year ahead.
The latest result was pulled down by natural disasters and the surging price of fuel, and though it came in line with Virgin’s forecasts the loss was steeper than analysts’ were expecting.
In the twelve months to June 30, 2011, revenue from ordinary activities rose 9.8 per cent to $3.3 billion.
CEO John Borghetti says there are early indications of improving earnings in following financial year, including positive trading results in July and continued strengthening in the government and corporate markets.
No final dividend has been declared.
VBA Price at posting:
24.5¢ Sentiment: None Disclosure: Held
