Friday, October 1, 2010

Changi makes $227m

Performance satisfactory compared with most rivals' but lags behind HK's: Analysts

CHANGI Airport Group has reported a profit of $227.3 million in the nine months from June 16 last year to March 31, on revenue of $961 million.

Before the corporatised entity was formed following a split of the Civil Aviation Authority of Singapore in July last year, such numbers were not made public.

In its last pre-split annual report, the aviation authority reported a net surplus from operations of $239.17 million for the year ended March 31, 2009.

Analysts told The Straits Times that Changi's performance - reported in its annual report out yesterday - is satisfactory compared with its rivals'.

Mr Vincent Ng from Standard & Poor's Equity Research said: 'Changi's numbers look quite good, especially when you compare them with the performance of operators of airports in Malaysia and Thailand, as well as Beijing Capital International Airport.

'But when you compare with some other airports like Hong Kong airport, for instance, Changi still lags.'

No comments: