Airport Authority Hong Kong revenue down 5%
Airport Authority Hong Kong revenue down 5% – financial highlights for the six months ended Sep-2009:
- Revenue: USD556.9 million, -4.7% year-on-year;
- Airport charges: USD170.8 million, -15.5%;
- Operating costs: USD211.7 million, -4.9%;
- Labour: USD72.5 million, +0.7%;
- Operating profit: USD345.2 million, -4.6%;
- Profit before tax: USD202.8 million, -3.3%;
- Net profit: USD168.6 million, -3.8%.
- ^Passenger numbers: 23 million, -6.4%;
- ^Cargo volume: 1.68 million tonnes, -11.5%. [more]
- *Based on the conversion rate at USD1 = HKD7.75
- ^Provisional figures
Airport Authority Hong Kong: "During the period under review, although air traffic performance recorded negative growth, the Airport Authority was able to mitigate the impact of the decline by tightening up expenditures, enhancing cost effectiveness and expanding revenue from retail and other commercial activities… Looking forward, we are cautiously optimistic about the airport's full-year financial performance and will continue to control cost as the economy is still in an early stage of what could be a slow and volatile recovery," Raymond Lai Wing-chueng, Airport Authority's Executive Director, Finance and Investment. Source: Hong Kong International Airport, 01-Dec-2009.