Profits up at JATCo

Nicole Mezzasalma

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Duty-free shops at Tokyo Haneda airport help boost business but increased competition at Narita affects sales

Japan Airport Terminal Co (JATCo) has announced a 1.6% rise in net profit to ¥1.22bn ($10.25m) on a revenue growth of 2.3% to ¥33.43bn ($280.7m) for the quarter to June 30 2007. Operating and ordinary profit increased six per cent to ¥2.11bn ($17.7m).

The completion of upgrade works at JATCo-owned and operated Tokyo Haneda airport terminal two increased facility rental fee revenue, and the airport’s duty-free shops expanded sales. A fall in domestic tourist numbers was countered by increased operations at international terminal retail outlets. However, increased competition and lower tourist numbers affected duty-free stores at the Tokyo Narita airport.

JATCo has not changed its full-year outlook and still predicts a half-year net profit of ¥2bn ($16.8m) on revenue of ¥67.8bn ($569.5m) and a full-year net profit of ¥3.7bn ($31.08m) on revenue of ¥136.8bn ($1.15bn) to March 31 2008.