02-Nov-2010 3:12 PM
GVK Power and Infrastructure reports 2.2% revenue increase; MAp PAX down 9.6%
Analysis
India's GVK Power and Infrastructure (+2.6%), which manages Mumbai International Airport Ltd and Bangalore International Airport Ltd, reports the following financial highlights for the three months ended 30-Sep-2010:
Summary
- GVK Power and Infrastructure reports a slight increase in revenue and operating profit for Mumbai and Bangalore airports in the third quarter of 2010.
- Net profit for GVK Power and Infrastructure decreased by 3% during the same period.
- Passenger numbers and aircraft movements at the airports managed by GVK Power and Infrastructure increased by approximately 13-14%.
- MAp, an Australian company, experienced a 19.5% increase in proportionate earnings for the first nine months of 2010.
- MAp's EBITDA also increased by 15.7% during the same period.
- MAp reported a decline in passenger numbers by 9.6% for the first nine months of 2010.
- Revenue: USD113.6 million, +2.2% year-on-year;
- Operating profit: USD35.1 million, +3.3%;
- Airports: USD5.0 million, +64%;
- Net profit: USD9.7 million, -3%;
- Airport passenger numbers: +13% to +14%;
- Aircraft movements: +13% to +14%;
- *Based on the conversion rate at USD1 = INR44.31
See related CAPA profile: Financial results
Australia's MAp (+0.7%) released (02-Nov-2010) the following financial highlights for the nine months ended 30-Sep-2010:
- Proportionate earnings: USD319.3 million, +19.5% year-on-year;
- EBITDA**: USD589.9 million, +15.7%;
- ASUR sale proceeds: USD227.1 million, equivalent to 12.5% per stapled security;
- Passenger numbers: 31.2 million, -9.6%.
*Based on the conversion rate at USD1 = AUD1.0129
*After corporate expenses
MAp also stated its earnings per stapled security for the nine months were AUD0.174, up 9.5% on the prior corresponding period.
Selected airports daily share price movements (% change): 01-Nov-2010
