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ACSA reports 16% increase in revenue in FY2012/13

2-Sep-2013 2:09 PM

Airports Company South Africa (ACSA) reported (30-Aug-2013) total revenue increased 16% year-on-year to ZAR6660 billion (USD654 billion), including ZAR2414 billion (USD237 billion) in non-aeronautical revenue, for the year ended 31-Mar-2013. The company said the results were primarily driven by an increase in aeronautical revenue and 17.4 million passengers departed from its airports during the year. International passenger traffic and aircraft movements increased 1%, but ACSA forecast minimal domestic growth, at best, for the next two years. The company also reduced its debt from ZAR16.7 billion (USD1.6 billion) in Mar-2012 to ZAR14.8 billion (USD1.4 billion) in Mar-2013. The company reduced its net financing cost for the year by 28% to ZAR1462 billion (USD144 billion) through the early settlement of a ZAR1.3 billion (USD128 million) loan and other loan redemptions ahead of time. ACSA finance director Maureen Manyama-Matome said, "Airports Company South Africa will continue with its efforts to enhance the group’s income from non-aeronautical revenue. This drive will be augmented by a new property development strategy to unlock the organisation’s valuable, non aviation-related property assets. Successes in India and Brazil will inform a new focus on opportunities in emerging markets. Airports Company South Africa, in collaboration with the South African Government, will pursue viable business opportunities in Africa. Depending on the success of these ventures, the company will be able to reduce its reliance on aeronautical income." [more - original PR]