Virgin Atlantic posts another profitable year

For the year ended 31st December 2015, the Virgin Atlantic Group is reporting a profit before tax and exceptional items of £22.5m. This represents an improvement of £10.1m on the previous year’s result when adjusted for IFRS reporting and is driven by growth at both Virgin Atlantic and Virgin Holidays. Virgin Holidays performed strongly and made a substantial contribution to this result, with a profit before tax and exceptional items of £10.9m, (a £5m year on year improvement which accounts for almost half of the overall profit figure.) Virgin reported a Group pre-tax, pre-exceptional items, profit over 12 months of £22.5m, an improvement of £10.1m on the year ending December 2014 (restated under IFRS). Group revenue amounted to £2.78bn. Airline operating costs fell year on year by £196m at constant currency, largely driven by fuel cost reductions.