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| Version 4 | Version 5 |
|---|---|
| BA profits better than expected | BA profits better than expected |
| (about 3 hours later) | |
| British Airways has reported better- than-expected three-month profits despite revenues being flat. | British Airways has reported better- than-expected three-month profits despite revenues being flat. |
| Profit before tax between April and June rose 51% to £289m ($588m). | Profit before tax between April and June rose 51% to £289m ($588m). |
| But BA also warned that rising fuel costs, the weaker dollar and the risks of running Heathrow Airport above capacity would hit revenues this year. | But BA also warned that rising fuel costs, the weaker dollar and the risks of running Heathrow Airport above capacity would hit revenues this year. |
| The £266.5m of fines from the Office of Fair Trading and the US Department of Justice will be paid out of a provision made in last year's results. | The £266.5m of fines from the Office of Fair Trading and the US Department of Justice will be paid out of a provision made in last year's results. |
| Revenues excluding exchange rate effects were the same as in the first quarter of 2006, suggesting much of the profit rise was due to cost-cutting. | Revenues excluding exchange rate effects were the same as in the first quarter of 2006, suggesting much of the profit rise was due to cost-cutting. |
| BA predicts that fuel costs this year will be £120m higher than they were last year, which is £20m more than its last prediction. | BA predicts that fuel costs this year will be £120m higher than they were last year, which is £20m more than its last prediction. |
| It has also reduced its revenue predictions by 1% to reflect the weak dollar and the risks of running Heathrow Airport above capacity. | It has also reduced its revenue predictions by 1% to reflect the weak dollar and the risks of running Heathrow Airport above capacity. |
| BA shares rose 1.6% to 410.25p pence in morning trading. |