Malaysia Airports profit up 24% in 2009

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National airports operator Malaysia Airports Holdings (MAHB) has posted a 24% growth in net profit in 2009.

Its net profit attributable to ordinary equity holders grew 24% to 378 million ringgit ($111 million) for the year ended 31 December, up from 305 million ringgit in 2008.

MAHB's total revenue rose 14% to 1.6 billion ringgit from 1.4 billion ringgit, adds the operator of main gateway Kuala Lumpur International Airport (KLIA).

In its fourth fiscal quarter ended 31 December, revenue rose 26% to 476.6 million ringgit, says MAHB.

"The significant improvement was from airport operations which increased by 24.1%, attributed mainly to a 4.8% growth in international passenger movements, higher retail sales and rental derived from available commercial spaces," it adds.

MAHB expects its airport operations business to continue contributing positively to the consolidated revenue in 2010.

"The aeronautical revenue stream would be highly dependent on the passenger movements at all airports operated by the group," it says.

It also expects non-aeronautical revenue to continue growing, with the completion of the KLIA low-cost carrier terminal expansion in April and other plans, adds MAHB.