QANTAS PROFITS FALL 4.3 PCT

MELBOURNE, Aug 12 (Bernama) -- Qantas has posted a 4.3 per cent fall in
annual net profit to A$112 million but says conditions are improving.

Underlying pre-tax profit for the year was A$377 million, within its
guidance of between A$300 million and A$400 million.

No final dividend will be paid, and the resumption of dividend payments will
depend on trading results, market conditions and the level of capital
expenditure commitments, Qantas said in a statement on Thursday.

Qantas chief executive Alan Joyce said if present conditions continue, the
airline's first half underlying pre-tax profit for 2010/11 may be "materially
stronger" than the first half of 2009/10.

However, changes in fuel prices, currency exchange rates and general trading
conditions could rapidly impact earnings, he warned.

"It is therefore not possible to provide a more specific forecast at this
time given the volatility and uncertainty of the aviation market," Joyce said in
the statement.
-- BERNAMA


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