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AoT posts 24% increase in fiscal Q3 profit

BANGKOK: Airports of Thailand Plc (AoT) continued to ride the crest of Thailand’s air travel boom with robust growth in the fiscal third quarter, from October 1, 2015 through June 30, 2016.

tourism, transport, economics,


Bangkok Post

Sunday 21 August 2016, 10:00AM


Passengers make their way to boarding gates at Don Mueang. The SET-listed state airport operator reported robust growth in the fiscal third quarter. Photo: Bangkok Post / Pattarachai Preechapanich
Passengers make their way to boarding gates at Don Mueang. The SET-listed state airport operator reported robust growth in the fiscal third quarter. Photo: Bangkok Post / Pattarachai Preechapanich

The SET-listed state airport operator posted a 24.3-per-cent rise in net profit for the three months to June on B13.39 billion in revenue, up 18.8 per cent.

Poolsiri Virojanapa, AOT Senior Executive Vice-President for Accounting and Finance, attributed the increased profitability largely to the rise in passenger and aircraft traffic through the country’s six main airports under its operation, including Phuket International Airport.

Total passenger traffic in the period for the six airports rose 11.1%, driven by a 20.6% jump in those carried by low-cost carriers (LCCs). Combined aircraft movements grew 8.8% with a 13.9% surge in those operated by LCCs.

Passenger service charges and concession fees – AoT’s two prime revenue sources – edged up 11.2% and 15.4%, respectively, to B5.37 billion and B3.37 billion.

The B464.83 million in compensation AoT received for damage caused by the late 2011 flooding at Don Mueang airport also contributed to the quarter profitability.

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The healthy fiscal third-quarter performance pushed net earnings for the nine months to June up by 18.6% to B15.28 billion, on a 16.1% increase in revenue to B39.67 billion.

Ms Poolsiri said the outlook for AoT is positive due to the stable domestic political situation, economic pickup, expanding tourism and decreasing fuel prices. These factors bode well for the aviation industry, she said.

AoT shares closed on the Stock Exchange of Thailand on Monday at B410, down B10, in heavy trade worth B3.09 billion.

 

Read original story here.

 

 

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