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

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