October 27, 2011 (Chinavestor) China Southern Airlines (NYSE:ZNH) revealed unaudited 2011 Q3 numbers today. The company provided no detailed balance sheet, income statement or cash flow statement just selected financials.
China Southern Airlines (NYSE:ZNH) did not provide total revenue number for the quarter. Net income grew to RMB3,132 million, a second best for the last three years.
Debt to equity ratio remains unknown but based on total asset numbers, chances are that the company is less leveraged than before. This is good news given the high debt burden that almost criplled the company in 2006-2008.
Cash position is also not 100% clear but there are two positive developments. For one, cash from operations is strong! Additionally, the footnotes reads that the company borrowed less short term-debt and prepaid more than same period last year, indicating sound cash flows for 2011 Q3.
