Shanghai Airport's commercial and F&B revenue rises, but overall revenues dip

Shares in China’s Shanghai International Airport Co closed 1.9% lower on Friday, ahead of the release of the airport operator’s financial report for the 12 months ended 31-Dec-2009 (on Saturday, 27-Feb-2010).

During the period, total revenue dipped 0.4% year-on-year to USD489.0 million, while total operating costs rose 11.5% year-on-year to USD400.1 million. Revenue from commercial and F&B operations was the only category to rise in 2009, up 16.2% to USD97.7 million, while aeronautical (-1.4%), property and equipment rental (-5.9%), and ground services (-24.0%) revenues all fell.

Operating profit declined 18.6% year-on-year in the 12 month period, while net profit of USD103.4 million was down 17.8% compared to 2008. In the year, aircraft movements increased 8.4% year-on-year, carrying 13.1% more passengers, but 2.3% less cargo volume. See related report: Worldwide airports data: Monthly aircraft movements now tracked by CAPA

Shares in Beijing Airport (0.2%) also dipped on Friday, while Shenzhen remained flat and Xiamen gained (+2.2%).

Today’s edition of Airport Business Daily contains the full financial report for Shanghai International Airport Co and the following reports on Chinese and global airports:

Selected airports daily share price movements (% change): 26-Feb-2010