KUALA LUMPUR: Malaysia Airports Holdings Bhd's net profit for the first quarter ended March 31, 2011 rose 20.48% to RM88.12 million from RM73.14 million a year earlier, on the back of higher revenue.
Revenue for the period jumped to RM610.39 million from RM498.61 million in 2010, due mainly to the adoption of IC 12 which resulted in recognition of RM155 million CONSTRUCTION [] revenue in relation to the construction of Klia2 and expansion of Penang International Airport as compared to RM62.2 million recognised in the same period last year.
Earnings per share was 8.02 sen while net assets per share was RM3.09.
In a filing to Bursa Malaysia on Tuesday, May 31, MAHB said that stripping out the construction revenue, the consolidated revenue for the current quarter under review was RM18.9 million or 4.3% higher than the same corresponding period in the previous year.
The improvement in revenue for the current quarter under review was mainly contributed by a positive growth of 3.5% from airport operations, driven by an increase in non-aeronautical revenue of 7.3% which was mostly derived from the Group's retail business, it said.
Commenting on its prospects, MAHB said the airport operations segment was expected to continue contributing positively to its consolidated revenue in 2011.
The aeronautical revenue streams would be highly dependent on passenger movements at all airports operated by the group, it said.
'At this juncture, MAHB is optimistic that the passenger traffic performance at the airports operated by the group will be positive in 2011,' it said.
MAHB also said the International Air Transport Association ('IATA') had projected further improvements in the profitability of airlines for the year 2011.
'Though business and consumer confidence remains strong, passenger and airline movements are expected to further grow but at a slower level.
'The robust performances by both the conventional and low-cost carriers provide a strong platform to prosper further this year,' it said.
''
Revenue for the period jumped to RM610.39 million from RM498.61 million in 2010, due mainly to the adoption of IC 12 which resulted in recognition of RM155 million CONSTRUCTION [] revenue in relation to the construction of Klia2 and expansion of Penang International Airport as compared to RM62.2 million recognised in the same period last year.
Earnings per share was 8.02 sen while net assets per share was RM3.09.
In a filing to Bursa Malaysia on Tuesday, May 31, MAHB said that stripping out the construction revenue, the consolidated revenue for the current quarter under review was RM18.9 million or 4.3% higher than the same corresponding period in the previous year.
The improvement in revenue for the current quarter under review was mainly contributed by a positive growth of 3.5% from airport operations, driven by an increase in non-aeronautical revenue of 7.3% which was mostly derived from the Group's retail business, it said.
Commenting on its prospects, MAHB said the airport operations segment was expected to continue contributing positively to its consolidated revenue in 2011.
The aeronautical revenue streams would be highly dependent on passenger movements at all airports operated by the group, it said.
'At this juncture, MAHB is optimistic that the passenger traffic performance at the airports operated by the group will be positive in 2011,' it said.
MAHB also said the International Air Transport Association ('IATA') had projected further improvements in the profitability of airlines for the year 2011.
'Though business and consumer confidence remains strong, passenger and airline movements are expected to further grow but at a slower level.
'The robust performances by both the conventional and low-cost carriers provide a strong platform to prosper further this year,' it said.
''
No comments:
Post a Comment