July 31, 2018 / 6:45 AM / 18 days ago

Japan's ANA first-quarter operating profit slips 21 percent, higher fuel costs bite

TOKYO (Reuters) - Japanese airline ANA Holdings Inc said on Tuesday that first-quarter operating profit fell 21 percent as higher fuel prices squeezed margins, even as revenue rose 7.3 percent.

Operating profit for the April-June quarter was 20 billion yen ($180 million), down from 25.4 billion yen in the same period a year earlier and below the 23.4 billion yen average estimate of two analysts polled by Thomson Reuters I/B/E/S.

But quarterly revenue grew to 484.8 billion yen, and ANA left its operating profit forecast for the full fiscal year unchanged at 165 billion yen.

Reporting by Sam Nussey; Editing by Kenneth Maxwell

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