Malaysia Airports Holdings (MAHB) posted an 8% year-on-year drop in net profit in its third fiscal quarter.
Total revenue for the period ending 30 September increased 3.5% to 377 million ringgit, from 365 million ringgit in the corresponding period last year, says MAHB.
Net profit fell 8% to 83 million ringgit from 90 million ringgit a year ago.
The fall in profit is "largely attributed to payment of user fee to the government pursuant to the operating agreements," says MAHB.
Growth in airport operations, however, led to improved revenue.
"The growth in airport operations for current quarter under review was contributed largely by a 6.8% increase in aeronautical revenue arising from significant growth in international and domestic passenger movements", says MAHB.
Total passenger movements at its flagship Kuala Lumpur International Airport (KLIA) grew 11.2% to 7.7 million in the third quarter from 6.9 million.
International passenger movements increased 12.6% to 5.1 million from 4.5 million.
Domestic passenger numbers rose 8.4% to 2.6 million from 2.4 million.
Overall cargo movements at KLIA fell 2.8% to 159,000t from 163,000t.
At MAHB's 38 other airports, total passenger movements rose 11.2% to 13 million from 12 million.
International numbers rose 22.7% to 885,000 from 721,000, while domestic passenger traffic increased by 9.2% to 4.6 million from 4.3 million.
Looking forward, MAHB says: "The group expects the airport operations business segment to continue contributing positively to the consolidated revenue from 2009 financial year."
Its recent financial restructuring is also expected to strengthen its future performance, it adds.
Source: Air Transport Intelligence news
