Hong Kong Sets Profit Record

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Airport Authority Hong Kong (AAHK) has announced that Hong Kong International Airport (HKIA) delivered record financial performances for the financial year ending March 31, 2013.  Profit attributable to the equity shareholder rose 5.4% to HK$5.624bn (US$724m), while revenue increased 8.1% to HK$13.134bn (US$1.69bn).
Stanley Hui Hon-chung, CEO of AAHK, commented:  “The revenue growth was largely drive by strong air traffic and increased passenger spending at retail concessions.  To cope with the anticipated growth in air traffic in the medium term, 48 new aircraft parking stands in the apron and Midfield area will be commissioned in phases within the next two and a half years.”
However, William Lo Chi-chung, Executive Director of Finance, warned:  “We expect that next year’s performance could be impacted by the stagnant economy in the Eurozone, the fragile global economic recovery and the gradual withdrawal of quantitative easing measures in the US, along with the combination of slower economic growth and liquidity concerns in mainland China’s financial sector.  We will continue to exercise prudent financial discipline in view of this challenging environment.”
Mr Hui added that other capacity enhancements would be undertaken to optimise the use of existing space.
 
(Image:  HKIA)