MAHB’s Q3 net profit rises to RM197.87m

KUALA LUMPUR, Nov 27 — Malaysia Airports Holdings Bhd’s (MAHB) net profit for the third quarter ended Sept 30, 2019 rose to RM197.87 million from RM168.49 million in the same quarter last year.

Similarly, its revenue grew 10.2 per cent to RM1.35 billion from RM1.23 billion previously on the back of overall passenger growth of 6.7 per cent, the group said in a filing with Bursa Malaysia today.

Passenger traffic for the Malaysia operations grew 8.9 per cent to 27.0 million passengers, while the passenger traffic for Turkey operations added 1.0 per cent to 9.8 million passengers.

Overall, Malaysia operations recorded a revenue of RM940.3 million with a growth of 6.4 per cent.

Revenue for the Turkey and Qatar operations rose 21.2 per cent to RM374.8 million and 9.0 per cent to RM40.1 million, respectively.

For the nine-month period, MAHB’s net profit increased to RM3.87 billion from RM3.60 billion, while revenue rose 7.5 per cent to RM3.87 billion to RM3.60 billion.

“The positive results were underpinned by the growth in airport operations, driven by sustained growth in passenger and aircraft movements,” it noted.

On its outlook, MAHB expects the 2019 budgeted traffic numbers to be realistically achievable amid the positive average load factors in the current quarter under review.

“The domestic traffic correction and consolidation are expected to continue until the first quarter of 2020, while the international sector could see further improvement.

“Nevertheless, challenges and uncertainties continue with respect to airlines performance, competition in the domestic environment, as well as the local and global macro-economic outlook,” the group said. — Bernama

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