EL Al posts record 3rd quarter profit

El Al reported revenues from operations – amounted to approx. US$647.3m, compared to US$601.2m in the third quarter of the previous year, reflecting a growth of approx. 7.7%. Revenue from passengers increased by approx. 10.5%, as a result of a significant growth in the number of passengers in the third quarter, in relation to the third quarter of last year (5.4 million segments versus 4.3 million segments last year, showing an increase of approx. 27%). The Company’s gross profit for the reported quarter totaled approx. US$208.8m, thus constituting about 32.3% of the turnover, compared to a gross profit of US$102.7m, which constituted approx. 17.1% of the turnover in the third quarter of the previous year. This significant growth in gross profit, in relation to the third quarter of last year, originates from the increase in the Company’s revenues and from a sharp decrease in the Company’s expenses. Profit prior to tax amounted in the reported quarter to approx. US$126.5m and profit after tax amounted to approx. US$93m, constituting about 19.5% of the turnover, compared to profit before tax of approx. US$14m and profit after tax of approx. US$10.1m in the third quarter of the previous year.