Copenhagen Airports profit up 22.3% in H1 2012

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Copenhagen Airports reported a 22.3% year-on-year increase in pre-tax profit to Danish kroner (DKr) 534 million ($88.4 million) for the first half of 2012.

The group says that total passenger numbers for the six months to 30 June 2012 grew by 4.2% to 11.3 million, leading to a 6.1% increase in revenue for the period to DKr1.68 billion.

Aeronautical revenue for the first half increased by 6.1% to DKr925 million, driven by passenger growth.

The company's operating costs including depreciation grew by 1.6% year-on-year to DKr1.05 billion, while operating profit climbed 15.5% year-on-year to DKr632 million.

For the second quarter of 2012, the group posted a net profit of DKr253 million, up 21.8% compared with the corresponding quarter last year.

Its revenue for the three months grew by 5.7% to DKr915 million. Aeronautical revenue was up by 5% to DKr511 million on 2.5% growth in passenger numbers at the airport.

Its operating profit for the quarter increased by 18.8% to DKr389 million.

The group forecasts a higher operating cost in full year 2012 compared with last year due to cost inflation; an expected increase in passenger numbers; and increased depreciation charges arising from higher level of investment.

It plans to invest significantly more than DKr500 million in 2012, the company says.