Beijing Capital Int'l Airport books a slight rise in profit

Beijing Capital International Airport Co., Ltd<694>, the operator of China's busiest airport, booked a lower-than-expected rise of 3.4% in 2007 net profit.

Net profit for 2007 fiscal year amounted to RMB 1.13 billion, slightly below the previous forecast of RMB 1.19 billion in a Thomson Financial survey.

The rise comes on the back of increased passenger throughput and growth in non-aviation business, the company said, adding that its non-aviation business enjoyed an 18.7% growth last year.

The company will see a robust rise in air business this year thanks to the forthcoming Beijing Olympics, company chairman Wang Jiadong predicted. However, it will also face great monetary pressure in the coming few years as it plans to buy No.3 terminal and related assets in the airport from its parent for up to RMB 26 billion, according to Wang.

Shares in the Hong Kong-listed company increased 4.03% to HK$7.23 on Wednesday.