MAHB records 8.7pc growth in first-half net profit
SEPANG, July 27 — Malaysia Airports Holdings Bhd (MAHB) turned in a net profit of RM203.4 million for the first half of its financial year ended June 30, 2012, an increase of 8.7 per cent from the RM187.2 million recorded in the previous corresponding period.
Its revenue recorded a higher percentage of growth, that is, 14.5 per cent to RM1,465.5 million, compared to the RM1,280.5 million last year.
MAHB Chief Financial Officer Faizal Mansor said the increase in revenue was driven mainly by the aeronautical business that has been doing very well, alongside new rates in airport tax approved at the end of last year, parking charges and better passenger movement.
This is in addition to good growth in the non-aeronautical business and lesser airlines incentives given, compared to last year.
“Our net profit was not as high in percentage as revenue growth because of higher costs compared to last year.
“This includes the higher cost of direct materials, an additional RM15 million in staff salary adjustment, and higher utility and maintenance costs,” he told a media briefing on MAHB’s Financial Results for the six months ended June 30,2012, here today.
MAHB also experienced a healthy 4.2 per cent growth in passenger traffic, with 32.5 million passing through its 39 airports nationwide.
Both international and domestic passenger movement registered a moderate growth of five per cent and 3.5 per cent respectively.
The total passenger movement at the Kuala Lumpur International Airport (KLIA) improved by 4.7 per cent, whereby both the KLIA-MTB (Main Terminal Building) and Low Cost Carrier Terminal (LCCT), recorded positive growth of 0.5 per cent and 9.7 per cent respectively.
All other airports recorded an aggregate growth in total passenger movements of 3.5 per cent.
MAHB expects a year-end passenger growth target of six to seven per cent and is “cautiously optimistic” of meeting the target.
Aircraft movement recorded an overall 1.7 per cent growth to 317,367, with the international sector recording a higher growth of 4.4 per cent, compared to 0.2 per cent on the domestic front.
MAHB’s earnings before interest, tax, depreciation and amortisation grew 2.7 per cent to RM418.5 million in the first half of the year, compared to the RM407.3 million last year.
Its profit before tax and zakat stood at RM295.1 million, an increase of 3.8 per cent compared to RM284.2 million registered previously.
MAHB’s airport operation segment grew 15.8 per cent to RM1,400.9 million from RM1,209.7 million, while the aeronautical business improved by 16.8 per cent to RM491.8 million.
Retail increased by 13.2 per cent to RM258.2 million, rental and commercial showed a rise of 6.3 per cent to RM220.9 million with construction revenue going up by 21.8 per cent to RM430 million this year.
Its non-airport operations however, decreased by 8.7 per cent from RM70.8 million to RM64.6 million, while the hotel segment grew 15.5 per cent to RM39.3 million, with agriculture and horticulture declining 28.4 per cent to RM21.5 million from RM30.1 million. — Bernama