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Malaysia Airport Holdings profit falls despite sales growthMalaysia Airport Holdings profit falls despite sales growth
3-Sep-2004
The airport group notes a sharp fall in profit in the first half of the year despite growing sales in its airport services, retail and hotel divisions
Revenue growth at Malaysia Airports Holdings' airport services, retail and hotel businesses helped the company grow second-quarter sales to RM234.37m ($61.7m), up from RM162.11m ($42.7m) last year. For the first six months the figure improved to RM510.48m ($134.3m) from RM474.07m ($124.8m).
But despite increased sales the parent company of duty-free operator Eraman posted second-quarter net profit down from last year's RM15.63m ($4.11m) to RM9.06m ($2.38m) with first-half net profit of RM27.53m ($7.24m), against RM113.77m ($29.9m) in 2003.
The company said that high operating costs in its airport services business had hit earnings.
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