Shanghai Airport Authority’s 2012 net profit up 5.4%

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State-owned Shanghai Airport Authority posted a net profit of yuan (CNY) 1.58 billion ($253.6 million) in 2012, up by 5.4% from a year ago.

The Shanghai-listed company, which manages the city's Hongqiao and Pudong airports, earned total revenue of CNY4.72 billion, an increase of 2.4% from 2011.

Its operating profit increased 5.8% to CNY2.05 billion, and the total profit up 8.3% to CNY2.1 billion, while operating costs rose 4.6% to CNY2.93 billion, says the airport authority.

Passenger throughput at Pudong International Airport last year hit 44.8 million, up by 8.3% from a year ago. Aircraft movements at the airport rose 5.1% to 361,720. Its cargo and mail throughput, however, dropped by 4.8% to 2.94 million tonnes, it adds.