10773 AirlingPDF - Aer Lingus

AER LINGUS GROUP PLCAirline passenger numbers rose 5.9% to a record 6.9 million resulting in an increase in thepassenger load factor of two percentage points to 76%.Group operating profit before exceptional items and Employee Share Participation Scheme was€79.9 million (1999: €74.2m), an increase of 7.7%. Net interest income of €8.4 million wasgenerated (1999: net interest charge incurred €0.8 m).The Employee Share Participation Scheme charge in 2000 of €4.4 million compares with€2.6 million in 1999.Profit before exceptional items rose by 18.5% to €83.9 million (1999: €70.8 m). Exceptionalitems resulted in a gain of €5.2 million (1999: net exceptional loss €11.3 m).In 2000 the Group adopted the provisions of the new accounting standard on deferred tax,FRS19 and restated its 1999 tax charge to reflect the requirements of the new standard.The total charge for corporation and deferred tax in 2000 was €16.9 million, compared with€2.7 million in 1999, while the resulting retained profit for the year was €71.6 million in 2000and €55.4 million in 1999.Net cash at 31 December 2000 was €235.6 million (1999: €162.2 m) up 45% on 1999 whileshareholders’ funds recorded a 25.3% increase to €363.3 million.11