Xiamen International Airport reports surge in operating profit: Airport Share Wrap
Shares in China’s Xiamen International Airport dipped 1.2% yesterday, ahead of the release of the airport’s financial and traffic report for the 12 months ended 31-Dec-2010.
Operating profit of the airport surged 42.8% year-on-year to USD54.6 million, on a 13.5% increase in operating revenue to USD112.2 million, while operating costs were relatively stable at USD62.2 million (+1.7% year-on-year).
Revenue for leasing and concessions rose the most to USD23.1 million (+482% year-on-year). Other revenue lines included:
- Aviation services: USD71.8 million, +38.5%;
- Cargo services: USD9.0 million, +154%;
- Advertising: USD3.9 million, +15.5%;
- Car park: USD1.2 million, +23.8%;
Passenger numbers at Xiamen Airport surged 20.7% year-on-year to 11.3 million, while cargo volumes were flat at 196,000 tonnes (+0.3%). Aircraft movements rose 14.2% year-on-year to 106,000.
Selected airports daily share price movements (% change): 30-Mar-2010