Hainan Meilan Airport reports 24.9% revenue increase

China's Hainan Meilan International Airport Co revenue - financial highlights for the six months ended 30-Jun-2010:

• Revenue: USD38.4 million, +24.9% year-on-year;
• Aeronautical: USD25.3 million, +8.5%;
• Non-aeronautical: USD13.1 million, +76.8%;
• Operating profit: USD20.0 million, +16.3%;
• Net profit: USD19.5 million, +23.0%;
• Total assets: USD331.2 million, +8.2%;
• Total liabilities: USD37.3 million, +98.1%. [more]
• *Based on the average conversion rate at USD1 = CNY6.83474 during the reporting period

Hainan Meilan International Airport Co: "Although there is still uncertainty in the prospect of global economy and time is needed for a clear economic situation, the impact of China's stimulus policies still exist and the growth in domestic economy is still at relatively high level and the economy of Hainan Province maintains good growth momentum. In view of this, the Board is of opinion that both the international and domestic airline business of Meilan Airport will remain stable in the second half of 2010. In light of the aviation market condition and the actual condition of each airline, the company will show great flexibility in cooperating with different airlines and actively promote Haikou government's subsidy policy for the aviation market, with a view to opening more new flight routes to Haikou," Company statement. Source: Hainan Meilan International Airport Co, 26-Aug-2010.