Transat A.T. Inc. (TRZ_A.TO: Quote) reported fourth-quarter profit to shareholders of C$16.61 million compared to a loss of C$7.27 million last year. Profit per share was C$0.43 for the quarter compared to a loss of C$0.19 prior year.
Adjusted after tax profit per share increased to C$0.75 from C$0.19 prior year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of C$0.44 for the quarter. Analysts’ estimates typically exclude speical items.
Revenues decreased to C$763.44 million from C$805.93 million last year. Analysts expected revenue of C$775.45 million for the quarter.
Transat said the drop in revenues was attributable mainly to its decision to reduce capacity on transatlantic and Sun destinations markets outbound from Canada and the number of travellers declined by 6.3% as a result.
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by RTT Staff Writer
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