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NEWS Last modified on August 14, 2014

Airports of Thailand reports 21.35% Q3 net profit drop

Airports of Thailand (AoT) has reported its net profit plunged by 21.35% to THB2479.46 million ($77.5 million) for the third quarter of the financial year that ended on June 30.

The airport operator runs Bangkok Suvarnabhumi Airport, Don Mueang International Airport, Phuket International Airport and other gateways in the Southeast Asian country.

Total revenues fell by 6.37% to THB9095.81 million ($280 million) and AoT says non-aeronautical revenues make up 42% of income for the three-month period, which grew 6.7% to THB3698.36 million ($115.6 million).

Concession revenues made up the majority of this, surging by 5.63%, and the figure was also boosted by a 10.59% rise in service revenues, and a landing and parking charges increase of 4.8% to THB1259 million ($38.8 million).

This compares to aeronautical revenues, which dropped 6.9% dip THB5023.97 million ($157.05 million), fuelled by a 10.87% decrease in passenger service charges.

AoT says this was mainly due to the decline in the number of passengers at Suvarnabhumi Airport (-15.61%) compared to the same period last year, especially among international travellers (-17.34%).

For the nine-month period ending June 30, AoT's net profit reached THB9,947.35 million ($310.95 million), which was a decline of 10.33% over the same period last year.

Non-aeronautical revenues totalled 41% of total revenues, and increased by 8.94% to THB11,771.85 million ($368 million), while aeronautical revenues rose 2.07% to THB16,763.95 million ($524.04 million), and total revenues for the period fell 4.72% overall.

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