British Airways saw its operating profits for the year ended 31 March 2005 increase from £405m in 2004 to £540m.
Link: BA reports profit rise
The airline also reduced its net debt, which fell by £1.2bn from £2.9bn.
BA, however, did not provide any concrete details on the impacts of new international accounting standards.
The company briefly mentioned that it had set up a working group to handle the IFRS transition, and would communicate further details in July.
‘An IFRS convergence project team was established in 2003 and reports to the Audit Committee quarterly,’ a BA statement said. ‘Progress continues in accordance with the project plan, and the project is on track.’
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.