Shenzhen Bao'an airport net profit down 9% in Q3

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Shenzhen Bao’an International Airport has posted a 9% decline in its attributable net profit for the third quarter of 2013 to yuan (CNY) 151 million ($24.8 million) from CNY166 million a year earlier.

The airport’s operating profit for the three month ended 30 September declined by 6.2% to CNY208 million from CNY222 million. Total profit also fell by 6.6% to CNY208 million from CNY223 million, it said in a filing on the Shenzhen Stock Exchange.

Total revenue, however, rose by 1.6% to CNY643 million, while total operating costs increased by 4.1% to CNY431 million.

In a separate statement, the airport said that it will open new passenger and cargo terminals on 28 November. This comes after the airport completed its expansion project and passed tests conducted by the Civil Aviation Administration of China.

The new passenger terminal will replace the existing domestic terminals A and B and the international terminal, it adds. Details on the capacity of the new terminals, however, were not given by the airport.