Saturday, March 29, 2008

Net profit of Shanghai Airport up 11%

Shanghai International Airport Co. Ltd<600009> announced its 2007 revenue has amounted to RMB 3.14 billion, representing a growth of 6% over the previous year, said the firm in its annual report based on Chinese accounting standards.

The company's net profit has increased 11% year-on-year to RMB 1.94 billion and the earnings per share (EPS) was RMB 0.88, up 12% year-on-year. The company's board of directors has suggested the distribution of proposed dividend of RMB 0.1 per share.

The company ascribed the growing profit to the booming demand for air transportation. It estimated that the revenue will grow further in 2008. The market insiders forecasted the earning per share of the firm would hit RMB 1.18 in 2010, when Shanghai hosts the World Expo.

Shanghai Pudong Airport has opened the third terminal on Mar. 26, which is capable to handle 20% passengers this year. The firm said it would rationalize its investment in the personnel, facilities and capital.

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