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
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:
- Changde Airport reports 46% rise in pax during Spring Festival travel period;
- Lanzhou Airport reports 47% jump in pax during Chinese New Year Golden Week;
- Prague Airport reports 6% rise in Jan-2010 pax numbers;
- Kansai Airport reports 4% fall in Jan-2010 pax numbers;
- Changi Airport reports 10% rise in Jan-2010 pax numbers.
Selected airports daily share price movements (% change): 26-Feb-2010