Shanghai Airports' first half profits fall as demand slows

Shanghai International Airport Co Ltd (SIACL) reported (28-Aug-08) a difficult second quarter, as passenger numbers slowed, slashing revenue growth. The airport operator reported a 39.1% fall in first half net profit to USD74.4 million, according to domestic accounting standards. SIACL reported a 16% reduction in first quarter net profit, indicating the slowdown in earnings gathered pace in the second quarter, while costs have surged, associated with the operation of the airport’s new terminal and runway, which opened earlier this year.

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