Hong Kong Airport on track for record traffic, 1HFY2011 EBITDA up 30%

Airport Authority Hong Kong revenue up 19% - financial highlights for the six months ended 30-Sep-2010:

• Revenue*: USD662.2 million, +19.1% year-on-year;
  • Airport charges: USD205.5 million, +20.5%;
  • Security charges: USD54.5 million, +13.7%;
  • Aviation security services: USD9.9 million, +2.7%;
  • Airside support services franchises: USD107.7 million, +22.6%;
  • Retail licences and advertising: USD215.6 million, +24.9%;
  • Other terminal commercial revenue: USD51.5 million, +0.8%;
  • Real estate: USD11.5 million, stable;
• EBITDA: USD446.5 million, +29.6%;
• Net profit: USD252.5 million, +50.0%;
• Passenger numbers: 26 million, +13%;
• Cargo volume: 2.1 million tonnes, +27%;
• Aircraft movements: 154,834, +12%;
• Total assets: USD6571 million, -0.7%;
• Cash and bank balances: USD115.9 million, +36.8%;
• Total liabilities: USD2164 million, +14.5%. [more]

*Based on the conversion rate at USD1 = HKD7.76508

Airport Authority Hong Kong: "The pace and force of the recovery in air traffic demand in the first half of this fiscal year was better than expected. Air cargo, which suffered the most during the economic downturn, did particularly well in the period under review, boosted by robust export and transshipment. With signs of sustained economic growth, we are on track for new records in passenger and cargo volume as well as aircraft movements, although the rate of growth in the coming months may slow down against a higher base for comparison," Stanley Hui, CEO. Source: Airport Authority Hong Kong, 29-Nov-2010.