KUALA LUMPUR: Malaysia Airports Holdings Bhd posted net profit of RM61.82 million for the third quarter ended Sept 30, 2010, down 25.9% from the RM83.43 million a year ago due to a higher share of losses in an associate company.
MAH said on Friday, Oct 29 that revenue rose 18.2% to RM446.28 million from RM377.36 million. Earnings per share were 5.62 sen versus 7.59 sen.
'The improved revenue in the current quarter under review was mainly contributed by the group's airport operations, driven by a stronger recovery in air travel demand. Passenger movements for the current quarter were 6.6% higher than the corresponding period last year, in which the international and domestic passenger movements improved by 13.5% and 0.7% respectively,' it said.
MAHB added the improved revenue was also contributed by growth in the retail business as well as higher rental revenue derived from additional commercial spaces.
For the nine months, it said earnings fell 18.2% to RM193.92 million from RM237.15 million. Revenue rose 13.6% to RM1.318 billion from RM1.16 billion.
'The improvement in revenue for the financial period-to-date under review was mainly contributed by a positive growth of 14.9% from the airport operations, driven by an increase in both aeronautical and non-aeronautical revenue of 13.1% and 17.0% respectively,' it said.
MAHB said the improvement in non-aeronautical revenue was mostly derived from retail businesses as well as rental of available commercial spaces.
It added that passenger movements were 15.1% higher than the corresponding period last year, in which the international and domestic passenger movements improved by 25.2% and 7.0% respectively.
On the profit before tax and zakat (PBT) for the current quarter and financial period-to-date under review, it said it was lower than the corresponding period last year by 17.9% and 9.5% respectively, mainly due to the adoption of FRS 139.
This resulted in the higher share of losses in an associate company, whereby, the concession payable by the associate company was recognized at fair value and subsequently at amortised cost.
MAH said on Friday, Oct 29 that revenue rose 18.2% to RM446.28 million from RM377.36 million. Earnings per share were 5.62 sen versus 7.59 sen.
'The improved revenue in the current quarter under review was mainly contributed by the group's airport operations, driven by a stronger recovery in air travel demand. Passenger movements for the current quarter were 6.6% higher than the corresponding period last year, in which the international and domestic passenger movements improved by 13.5% and 0.7% respectively,' it said.
MAHB added the improved revenue was also contributed by growth in the retail business as well as higher rental revenue derived from additional commercial spaces.
For the nine months, it said earnings fell 18.2% to RM193.92 million from RM237.15 million. Revenue rose 13.6% to RM1.318 billion from RM1.16 billion.
'The improvement in revenue for the financial period-to-date under review was mainly contributed by a positive growth of 14.9% from the airport operations, driven by an increase in both aeronautical and non-aeronautical revenue of 13.1% and 17.0% respectively,' it said.
MAHB said the improvement in non-aeronautical revenue was mostly derived from retail businesses as well as rental of available commercial spaces.
It added that passenger movements were 15.1% higher than the corresponding period last year, in which the international and domestic passenger movements improved by 25.2% and 7.0% respectively.
On the profit before tax and zakat (PBT) for the current quarter and financial period-to-date under review, it said it was lower than the corresponding period last year by 17.9% and 9.5% respectively, mainly due to the adoption of FRS 139.
This resulted in the higher share of losses in an associate company, whereby, the concession payable by the associate company was recognized at fair value and subsequently at amortised cost.
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