Guangzhou Airport revenues and net profit strong
Shares in China's Guangzhou Baiyun International Airport closed 1.9% lower on Friday ahead of the release of its financial and traffic report for 12 months ended 31-Dec-2009 on Saturday.
During the period, operating revenue jumped 8.4% year-on-year, as the airport reported strong gains on landing fees (+27.8%), advertising (+20.9%), rental (+20.1%) and ground handling (17.7%), while agency revenue remained weak (-2.2%). The increase in total operating revenue outweighed the airport's 7.7% year-on-year increase in operating costs.
In 2009, passenger numbers rose 10.8% year-on-year to 37.1 million, in line with a 10.8% increase in passenger services revenue to USD97.5 million. Cargo volumes surged 39.3% in the period.
Guangzhou Airport reported a net profit increase in the 12 months to Dec-2009 of 12.0% to USD79.6 million.
Airport Business Daily today features the full financial report of Guangzhou Baiyun International Airport, including a full breakdown of aeronautical and non-aeronautical revenues. Sign up for your strategic airports news resource, which also CAPA Analysis Exclusives, for example last week: China to purchase 218 aircraft in 2010; passenger levels to soar to 1.5 billion by 2030.
Shares in other Chinese airports mostly declined on Friday - Beijing led the way up (+4.7%), however, Shanghai (-0.3%), Xiamen (-1.9%), Shenzhen (-2.3%) and Hainan Meilan (-2.5%) all closed lower.
Selected airports daily share price movements (% change): 12-Mar-2010
