Airports Company South Africa attributes profit to increased tariffs and non-aero revenue

Airports Company South Africa (ACSA) managing director Bongani Maseko attributed (13-Sep-2012) the company's FY2011/12 profit of ZAR188 million (USD22.6 million) to an increase in tariffs and growth in non-aeronautical income. The company said increased aeronautical revenue was due to a tariff increase of 34.8% on 01-Oct-2011 and a moderate increase in overall traffic. ACSA said the revenue increase from international traffic was lower than expected due to the euro zone crisis. The company said non-aeronautical income contributed 42% of total revenue. ACSA said, "non-aeronautical revenue continues to serve as a stable and growing revenue stream, with the increase being driven by both traffic growth and customer spend." The company reported increased operating expenses were due to inflationary costs associated with additional capacity. [more - original PR]