The result represents a swing of £130 million and comes just year on from the firm’s well-publicised financial problems.
Monarch expects earning before interest and taxes to be more than £40 million and earnings before interest, taxes, depreciation, amortization, and rent (ebitdar) to exceed £140 million.
Monarch will likely file its full accounts at Companies House next year.
Andrew Swaffield, Monarch Group chief executive, said: “I am delighted that we have exceeded our profit expectations for the full year. This has been achieved despite serious challenges in some of our key markets in the Eastern Mediterranean.”
