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IN announcing its first interim results, the Airport Authority Hong Kong has reported that pre-tax profit in the first half of the financial year rose 14.7 per cent to HK$1.24 billion (US$159.57 million) based on strong growth in cargo and passenger throughput.
During the reporting period ending September 30 the unaudited results show that turnover rose 9.2 per cent to HK$3.81 billion while operating expenses increased 8.5 per cent to HK$1.42 billion.
EBITDA (earnings before interest, taxes, depreciation and amortisation) increased 9.6 per cent to HK$2.39 billion. The authority said profit attributable to shareholders grew 13.2 per cent to HK$993 million.
Cargo throughput in the six months grew 3.5 per cent to 1.8 million tonnes with passenger volume increasing 9.2 per cent to 22.7 million. Aircraft movement also increased by six per cent to 140,700.
"During the period, we achieved a breakthrough on the mainland with the conclusion of a joint venture with the Zhuhai Municipal Government that will see us manage Zhuhai Airport for 20 years.
"By making the Airport Authority an insider in the mainland aviation system, the agreement is also a key step in our long-term strategy of supporting the coordinated development of a Pearl River Delta (PRD) airport system so as to better serve the PRD region," noted the Airport Authority's CEO, Dr David Pang. |
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