PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) posted a 17.4% increase in net profit from RM197.87 million for the third quarter ended Sept 30, from RM168.49 million previously on overall passenger growth of 6.7% and a lower rate of increase in cost.
Revenue for the quarter also increased 10.2% to RM1.36 billion, from RM1.23 billion.
In its Bursa filing, MAHB said overall, Malaysian operations recorded revenue of RM940.3 million with a growth of 6.4%, whilst Turkish and Qatari operations recorded revenue growth of 21.2% to RM374.8 million and 9% to RM40.1 million respectively.
“Airport operations recorded a revenue growth of 10.7% to RM1,278.7 million. Revenue from the aeronautical segment increased 12.9% to RM714.0 million over the corresponding quarter last year.
“Revenue from the non-airport operations increased 3.1% or RM2.3 million due to higher revenue from the project and repair maintenance business,” it said.
Meanwhile, passenger traffic for Malaysian operations grew 8.9% to 27 million passengers as compared to 24.8 million passengers recorded in the corresponding quarter last year.
The passenger traffic for the Turkish operations increased 1% to 9.8 million passengers as compared to 9.7 million passengers recorded in the corresponding quarter last year.
For the nine-month cumulative period, the group’s net profit declined 27.4% to RM507.53 million, from RM699.21 million at the same time last year, mainly due to one-off gains recorded in relation to the fair valuation of investment in GMR Hyderabad International Airport Limited and gain on disposal of investment in GMR Male Private Limited.
Revenue increased 7.5% to RM3.87 billion, from RM3.6 billion.
Looking ahead, the group said for its Malaysian operations, the domestic traffic correction and consolidation are expected to continue until Q1 20 while the international sector could see further improvement.
For its overseas operations, Istanbul Sabiha Gokcen International Airport’s (ISGIA) performance will likely maintain its growth momentum in 2019 especially for international passenger traffic, MAHB noted.
source https://www.thesundaily.my/business/mahb-s-q3-profit-174-higher-at-rm19787m-JF1667391
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