Beijing Capital International Airport Co profits surge in 1H2011

China's Beijing Capital International Airport Co revenue up 13% - financial highlights for the six months ended 30-Jun-2011:

• Revenue: USD485.8 million, +13.3% year-on-year;
  • Aeronautical: USD285.2 million, +7.9%;
    • Passenger charges: USD114.3 million, +8.0%;
    • Aircraft movement fees and related charges: USD95.6 million, +7.5%;
    • Airport fee: USD75.2 million, +8.2%;
  • Non-aeronautical: USD200.7 million, +21.9%;
    • Concessions: USD137.1 million, +33.3%;
    • Rentals: USD58.2 million, +0.8%;
• Operating profit: USD155.2 million, +63.0%;
• Net profit: USD80.3 million, +158%;
• Passenger numbers: 37.9 million, +7.9%;
• Cargo volume: 770,705 tonnes, +5.3%;
• Aircraft movements: 261,146, +3.8%;
• Total assets: USD5322 million, -2.6% when compared to period ended 31-Dec-2010;
• Cash and cash equivalents: USD121.9 million, -11.5% when compared to period ended 31-Dec-2010;
• Total liabilities: USD3143 million, -6.6% when compared to period ended 31-Dec-2010. [more]

*Based on the conversion rate at USD1 = CNY6.4

Beijing Capital International Airport Co: "Air traffic volume of Beijing Capital Airport is expected to keep growing in the second half year of 2011. In the second half year of 2011, the Company will continue its proper planning for commercial resources at the terminals to enhance the consumption satisfaction index of passengers, so as to boost retail revenues; In addition, some of the Company's re-directed and newly-added advertising resources will be put into use, which is expected to generate positive impact on relevant non-aeronautical revenues. Meanwhile, the Company will continue to expand the concession on air catering business, and push forward concessions on aircraft maintenance engineering and ground handling of business jets so as to maintain the growth of non-aeronautical business," Company statement. Source: Beijing Capital International Airport Co, 19-Aug-2011.