Loading

GAP reports 18.3% revenue increase; Shanghai Pudong/Hongqiao airports handle 60 million pax in 2010

Analysis

Mexico's Grupo Aeroportuario del Pacífico (GAP) shares rose slightly by 0.1% on Wednesday (27-Oct-2010). On the same day the airport operator reported the following preliminary financial highlights for the three months ended 30-Sep-2010 (according to Mexican Financial Reporting Standards):

  • Revenue: +18.3% year-on-year;
    • Aeronautical: +20.6%;
    • Non-aeronautical: +9.9%;
  • Cost of services: +30.7%;
  • Cost of government concession taxes: +18.4%;
  • Operating profit: +22.1%;
  • EBITDA: +13.9%;
  • Net profit: +3.3%.

See related CAPA profile: Financial results

China's Shanghai Airport Authority (-1.6%) announced Shanghai Pudong and Hongqiao airports have handled 60 million passengers in 2010, surpassing 2009's year-to-date record of 57 million. Shanghai Airport Authority stated they expect the city's airport system to handle more than 72 million passengers this year, a 26% year-on-year increase. Shanghai's traffic has been boosted by the World Expo, which ran between May-Oct-2010, which increased passenger traffic during the period by 34% year-on-year.

Meanwhile, TAV Airports (-3.9%) shares lost the most ground on Wednesday while Xiamen (+4%) and GateGroup (+2.8%) shares gained the most.

Selected airports daily share price movements (% change): 27-Oct-2010

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More