Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, August 11, 1993                   TAG: 9308110033
SECTION: BUSINESS                    PAGE: B5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

London-based British Airways, part owner of USAir Group, on Wednesday reported first-quarter net profit of 54 million pounds sterling ($80.5 million), down 22.9 percent from 70 million pounds in the 1992 quarter. Group revenue rose 9.1 percent to 1.52 billion pounds ($2.26 billion) from 1.39 billion pounds. The operating surplus was 108 million pounds ($161 million), up from 96 million pounds.

Earnings per American Depository Share (ADS) were 63 pence, (94 cents), compared to 81 pence. The net profit, equivalent to earnings of 6.9 pence per UK share, against 9.2 pence per UK share for the year-ago quarter, was adjusted to take into account the effect of the company's share offering this spring, which raised 442 million pounds of new equity in the form of almost 185.5 million new ordinary (UK) shares.

Net payable interest rose to 42 million pounds ($63 million) from 8 million pounds, reflecting the substantial outlay on fleet and other tangible assets, and investments in alliance partners, mostly in the nine months ending in March.

The airline carried 7.8 million passengers, up 6.6 percent, from April to June. Cargo loadings rose 6 percent, to 141,000 tons.

\ Wal-Mart Stores

Wal-Mart Stores Inc., Bentonville, Ark., retailer with Wal-Mart and Sam's Club stores in the Roanoke Valley, on Wednesday reported sales of $16.2 billion for the second quarter and $30.16 billion for the six months ended July 31, up 25 percent from the 1992 quarter and 22 percent gain from the 1992 six months.

Net income for the quarter increased 18 percent to $495.9 million, or 22 cents per share, compared with $420.4 million, or 18 cents per share, for the 1992 quarter. Net income for the six months increased 17 percent to $946.5 million, or 41 cents per share, compared with $807.4 million, or 35 cents per share, for the 1992 period.

The company opened 21 Wal-Mart stores and 33 Sam's Clubs in the quarter.