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China's Baiyun Intl Airport H1 net profit down 41.94 pct on higher costs

25-Aug-2005

BEIJING (XFNews) - Guangzhou Baiyun International Airport Co Ltd (SHA 600004) said its first half net profit fell 41.94 pct year-on-year to 129.58 mln yuan due to increased operating costs.

The Shanghai-traded firm said its operating and labor costs rose significantly in the first six months, which helped to drag down its net profit despite higher total revenue, but it did not provide further details.

Earnings per share stood at 0.13 yuan for the six months to June, down from 0.22 yuan a year earlier.

Total revenue increased 37.14 pct year-on-year to 979.58 mln yuan.

Baiyun International Airport said its flight movement rose 15.9 pct year-on-year to 102,250 in the first half, passenger loads were up 15.6 pct at 11.097 mln people and cargo and mail loads increased 11.2 pct to 347,000 tons.

The listed airport added six regular airlines and four destination cities in the January-June period.

It did not make any earnings forecast for the rest of the year and will not pay a dividend for the first half.

Total assets were valued at 7.9 bln yuan at the end of June, up 1.22 pct from the end of last year.

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