1 March 2017
Malaysia Airports Holdings Bhd (MAHB) returned to the black in its fourth quarter ended Dec 31, 2016 with a net profit of RM33.3mil.
The airport operator had registered a net loss of RM39.8mil a year ago.
Revenue for the quarter came in at RM1.1bil, up 4.2% from the same period a year ago.
In its filing with the stock exchange, MAHB said revenue from its Malaysian operations increased by 6.3% or RM49.2mil, while revenue from overseas operations slipped by 2% or RM5.2mil.
MAHB said that it saw a significant decrease in total costs due to the decrease in amortisation and depreciation by 138.3% or RM192.4mil.
This, it said, was due to the extended amortisation and depreciation period, in line with the extension of the operating period from 25 years ending 2034 to an additional 35 years ending 2069.
Passenger traffic for airports here increased by 11.1% to 23.8 million passengers during the quarter, with both international and domestic passenger traffic rising by 12.2% and 10.1%.
During the quarter, MAHB said its businesses from the non-airport segment also registered an increase in revenue of 25.8%, largely contributed by revenue from its agriculture and hotel segments.
Revenue from the group’s overseas airport operations fell 1.6% or RM3.8mil, mainly due to a reduction in revenue from non-scheduled airlines, it said.
For the full year, the group’s revenue was up 7.8% to RM4.17bil, while net profit improved 72% to RM70.4mil.
MAHB shares fell 2 sen to RM6.48 at the close of trading yesterday.
A total of 2.121 million shares changed hands.
Original Source: thestar