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Dufry Group rated 'overweight' by Morgan Stanley; OMA reports 16.6% revenue increase


Mexico’s Grupo Aeroportuario del Centro Norte (OMA) (-0.7%) shares fell slightly on Tuesday (19-Oct-2010) after reporting the following financial highlights for the three months ended 30-Sep-2010:

  • Revenue: USD45.4 million, +16.6% year-on-year;
    • Aeronautical: USD35.3 million, +11.6%;
    • Domestic passenger charges: USD22.0 million, +12.0%;
    • International passenger charges: USD5.8 million, +13.9%;
    • Non-aeronautical: USD10.1 million, +38.1%;
    • Parking: USD2.3 million, +1.3%;
    • Leases: USD2.0 million, +24.9%;
  • Adjusted EBITDA: USD12.7 million, -39.8%;
  • Net profit (loss): (USD319,109), compared with a profit of USD8.6 million in p-c-p;
  • Capital expenditure: USD8.3 million;
  • Total assets: USD819.6 million, +2.6%;
  • Total liabilities: USD223.1 million, +8.6%;
  • Passenger numbers: 3.1 million, +4.3%;
  • Cargo volume: 23,906 tonnes, +28.9%;
  • Aircraft movements: 85,394, +7.1%;
  • Revenue per passenger:  USD14.6, +11.8%.
    • *Based on the conversion rate at USD1 = MXN12.5349

See related CAPA profile: Financial results

Mexico’s GAP (-0.5%) announced its passenger traffic rose by 6.2% in Sep-2010:

  • Passenger numbers: 1.3 million, +6.2%
  • Domestic: 981,700, +7.6%;
  • International: 348,600, +2.5%.

Dufry Group rose 3.4% to 107.5 francs, its highest price since Jun-2008. The operator of duty free shops was rated a new “overweight” at Morgan Stanley according to Bloomberg.

Selected airports daily share price movements (% change): 19-Oct-2010

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