MAHB’s 3Q earnings surge to RM79.7m on airports ops

Malaysia Airports Holdings Bhd’s (MAHB) net profit leaped more than sevenfold to RM79.69 million in the third quarter ended Sept 30, 2017 (3Q17), compared to a net profit of RM10.68 million posted a year earlier for the same period.

Revenue for the period was 12.7% higher at RM1.21 billion, compared to the RM1.08 billion registered in 3Q16, on growth in airport operations, driven by the aeronautical and nonaeronautical segments.

MAHB’s aeronautical segment grew 13.8% year-on-year (YoY) to RM605.1 million with international passenger traffic rising from strong travel demand, lower ringgit value, visa relaxation measures for Chinese and Indian tourists, umrah traffic and increased tourism promotion.

Its non-aeronautical segment climbed 12.7% YoY to RM531.1 million on stronger sales registered by the concessionaires and retailers.