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Virgin profit hits £68 million

(27 May 2005)

Virgin Atlantic made a pre-tax profit of £68 million for the 12 months to the end of February 2005 – its highest profit for six years.

The profit from a turnover of £1.6 billion includes the airline, tour operation Virgin Holidays and the group's cargo business.

Previously, the airline made a profit of £20.9 million from a turnover of £1.2 billion for the 10 months to the end of February 2004. Last year's financial results cover a 10-month period due to a change in the year-end date to suit shareholders.

The airline added one million extra passengers with 4.4 million flying with the airline during the latest financial year.

Chairman Sir Richard Branson said the impressive results were due to an increase in first-class passengers brought about by its introduction of its new upper-class suites.

Virgin Holidays' turnover of £407 million for the 12 months compares with £314 million for the previous 10 months ending February 2004.

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