Hong Kong International Airport (HKIA) has reported a 3.8% drop in net profit for the six months ending 30 September due to the adverse impact from the economic downturn.
Profit attributable to equity shareholders fell 3.8% to HK$1.31 billion ($169 million) from HK$1.36 billion in the corresponding period last year, says HKIA.
Revenue dropped 4.7% to HK$4.31 billion from HK$4.5 billion, it adds.
Passenger volume fell 6.4% to 23 million and cargo volume decreased 11.5% to 1.68 million tonnes.
However, HKIA says the market has shown signs of recovery in recent months, particularly in air cargo.
"In October, the cargo volume recorded the first growth in 14 months, and November figures thus far continue to indicate a strong rebound in demand for cargo services," says Airport Authority of Hong Kong CEO Stanley Hui.
He adds, that the authority is cautiously optimistic about HKIA's full-year financial performance.
"We are confident in the long-term prospects of HKIA as we are well positioned to capitalise on the tremendous growth opportunities arising from mainland China's robust economy and the increasing integration between Hong Kong and the mainland," says Hui.
The airport adds that it is studying the possibility of providing more aircraft stands, related apron facilities and a new passenger concourse to cater to increased demand when runway capacity is gradually increased to 68 aircraft movements per hour by 2015.
Source: Air Transport Intelligence news