NST Business
KUALA LUMPUR: Malaysia Airports Holdings Bhd’s net profit surged to RM79.69 million in the third quarter ended September 30 2017 from RM10.67 million a year ago.
This was due to strong revenue growth in both its airport and non-airport operations, MAHB said in a filing to Bursa Malaysia yesterday.
Group revenue for the quarter edged up 12.7 per cent to RM1.21 billion.
For the nine-month period, MAHB’s net profit stood at RM208.63 million from RM37.06 million previously, while revenue rose to RM3.4 billion from RM3.09 billion.
MAHB said its airport operations revenue had grown 13.3 per cent to RM1.13 billion as both aeronautical and non-aeronautical segments contributed double-digit growth over the corresponding quarter in 2016.
"Malaysia operations recorded passenger growth of 6.5 per cent to 24.7 million passengers as compared to the corresponding quarter last year of 23.2 million passengers.
"The growth in international passenger traffic was fuelled by strong travel demand, lower ringgit value, visa relaxation measures for Chinese and Indian tourists, Umrah traffic and increased tourism promotion," it added.
In the non-aeronautical segment, the group’s revenue rose 12.7 per cent to RM531.1 million on stronger sales by the concessionaires and retailers.
Non-airport operations revenue grew 4.4 per cent to RM75.7 million, mainly contributed by both hotel and agriculture business segments.
Overall, Malaysia operations posted 11.4 per cent higher revenue of RM860.8 million while Turkey and Qatar operations recorded revenue growth of 17.4 per cent to RM315.6 million and 3.8 per cent to RM35.5 million respectively.