24 July 2014
Malaysia Airports Holdings Bhd (MAHB) reported a pre-tax loss of RM37.729 million for the second quarter ended June 30, 2014 from a pre-tax profit of RM132.055 million for the same period a year ago.
Revenue, however, increased to RM1.175 billion in the quarter from RM978.102 million for the corresponding period of a year ago.
MAHB in a filing to Bursa Malaysia today said the pre-tax loss was mainly due to a higher share of associate losses, higher depreciation and amortisation, higher operating costs, higher finance cost and impairment of investment.
"Higher depreciation and amortisation was due to the capitalisation of newly completed projects, mainly klia2," it said.
On prospects, the airport operator said it is expected to continue to reap the benefits from the entry of new airlines and expansion of local carriers.
It said seat capacity expansion coupled with strong tourist arrivals pursuant to the Visit Malaysia Year 2014 would continue to fuel passenger growth momentum.
The company will also continue to pursue airlines globally by further enhancing its marketing efforts and various other initiatives, it added.
Meanwhile, MAHB said klia2 is expected to be the catalyst in boosting its performance moving forward, mainly contributed by its unique targeted retail and commercial offerings attractive to passengers and airport visitors.
"With klia2, KLIA now has the capacity to handle 70 million passengers annually to cater for the rapid air travel growth, remain competitive within the region and cement Malaysia's position as a leading global aviation hub," it said.
Original Source: www.bernama.com.my