Kenya Airways has released its financial results for the financial year ended 31 March 2012.

The company's total revenue increased by 22.061 billion (25.7%) from KES 85.8 billion to KES 107.9 billion in the year 2011. Total expenses increased 33.2% in the year, a KES 26.6 billion increase from KES 80.021 billion to KES 106.6 billion in the year ended 31 March 2012.

The airline's operating profit has dropped by 4.509 billion (77.5%) from KES 5.815 billion to KES 1.306 billion in the year. Profit before tax dipped by 2.856 billion (57.1%) from 5.002 billion to KES 2.146 billion in the year. It is important to note that the company reported an increase in "realised gains on fuel derivatives" of KES 2.21 billion (741.6%) in the year, up to KES 2.508 billion from KES 298 million reported last year and this figure is added to operating profits (among others) to determine the profit before tax amount.

The company's profit after tax has dropped by 53.081% from KES 3.538 billion reported for 2010 to KES 1.66 billion that it has reported for the 2011 year.

Read the full report here.