02-Aug-2010 3:42 PM
Shenzhen Airport reports 29% increase in first half net profit
Analysis
Shenzhen Airport has reported a 29.6% increase in net profit for the six months ended 30-Jun-2010 to USD53.7 million, although its share price eased 0.2% on Friday.
Shenzhen Airport's financial highlights for the period, according to Chinese Accounting Standards, were as follows:
- Revenue: USD135.4 million, +16.3% year-on-year;
- Aeronautical: USD88.5 million, +15.7%;
- Operating costs: USD63.0 million, +14.0%;
- Operating profit: USD67.7 million, +29.6%;
- Net profit: USD53.7 million, +29.0%;
- Total assets: USD898.8 million, +6.0% when compared with period ended 31-Dec-2009.
The airport will open a new runway and terminal in 2011 or 2012. See related report: China's second tier airports: It's where the action is!
Elsewhere, Guangzhou Airport fell 0.6% and Beijing Airport was flat on Friday.
Selected airports daily share price movements (% change): 30-Jul-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance