MAHB's 2012 pre-tax profit soars

Malaysia Airports Holdings Bhd (MAHB) posted a higher pre-tax profit of RM602.76 million for the financial year ended December 31, 2012 against RM574.19 million recorded in 2011.

Revenue also increased to RM3.55 billion, for the period under review, from RM2.75 billion, chalked up in the preceding year.

In a filing to Bursa Malaysia, MAHB said the revenue was mainly attributable to better airport operations’ revenue which was mostly derived from passenger service and landing charges.

"The higher contribution was driven by higher passenger and aircraft numbers and the implementation of the new rates," it said.

On prospects, MAHB expects this year to be better in terms of overall passenger traffic performance.

"We will further benefit from strong traffic growth with the entry of new airlines and the expansion of local carriers this year.

"We expect to achieve a passenger growth of 7.1 per cent this year on the assumption that Malaysia's economic growth remains in the range of five per cent and that global economic environment remains stable," it added.-- Bernama