Airports of Thailand Plc (AoT) continued to ride the crest of Thailand's air travel boom with robust growth in the fiscal third quarter.
The SET-listed state airport operator posted a 24.3% rise in net profit for the three months to June on 13.39 billion baht in revenue, up 18.8%.
Poolsiri Virojanapa, senior executive vice-president for accounting and finance, attributed the increased profitability largely to the rise in passenger and aircraft traffic through the country's six main airports under its operation.
Total passenger traffic in the period rose 11.1%, driven by a 20.6% jump in those carried by low-cost carriers (LCCs). Combined aircraft movements grew 8.8% with a 13.9% surge in those operated by LCCs.
Passenger service charges and concession fees -- its two prime revenue sources -- edged up 11.2% and 15.4%, respectively, to 5.37 billion baht and 3.37 billion baht.
The 464.83 million baht in compensation AoT received for damage caused by the late 2011 flooding at Don Mueang airport also contributed to the quarter profitability.
The healthy fiscal third-quarter performance pushed net earnings for the nine months to June up by 18.6% to 15.28 billion baht, on a 16.1% increase in revenue to 39.67 billion baht.
Mrs Poolsiri said the outlook for AoT is positive due to the stable domestic political situation, economic pickup, expanding tourism and decreasing fuel prices. These factors bode well for the aviation industry, she said.
AoT shares closed yesterday on the Stock Exchange of Thailand at 410 baht, down 10 baht, in heavy trade worth 3.09 billion baht.