Travellers in queue to check in at klia2
KUALA LUMPUR: Malaysia Airports Holdings Bhd
(MAHB) third quarter earnings surged to RM79.69mil from RM10.67mil in the year-ago quarter on strong revenue growth in both its airport and non-airport operations.
Revenue in the quarter under review grew 12.7% from the previous corresponding quarter to RM1.21bil.
The group's revenue and earnings year-to-date stood at RM3.4bil and RM208.63mil versus RM3.09bil and RM37.06mil in the previous-year period.
MAHB posted earnings per share of 3.93 sen versus a loss of 0.21 sen per share in the previous corresponding quarter. This bring earnings so far this year to 10.02 sen per share.
For the quarter, The group recorded a 110.9% jump in profit before tax (PBT) to RM90.7mil, with the lion's share of growth coming fom a 53.1% jump in Malaysian operations' PBT contribution to RM132.4mil.
Airport operations recorded 13.3% growth to RM1.13bil 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% 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," MAHB said in its filing with Bursa Malaysia.
In the non-aeronautical segment, revenue grew 12.7% to RM531.1mil driven by stronger sales by the concessionaires and retailers.
Non-airport operations posted revenue growth of 4.4% to RM75.7 million, mainly contributed by both hotel and agriculture business segments.
Overall, Malaysia operations recorded 11.4% higher revenue of RM860.8mil while Turkey and Qatar operations recorded revenue growth of 17.4% to RM315.6mil and 3.8% to RM35.5mil respectively.
Contribution from associates in the current quarter rose RM200,000 year-on-year to RM900,000 while share of JV profits fell RM100,000.
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