Shenzhen Airport Forecasts 65-85% Profit Growth in First Three Quarters

Shenzhen Bao'an International Airport (SZX) forecasted a 65-86 percent increase in net profit for the first three quarters, due to robust travel demand and lower operating costs, the company said Tuesday night.

Net profit for Jan.-Sep. 2015 is expected to reach 315.3-353.5 million yuan, up 65-85 percent compared with that of 191 million yuan in the same period last year, according to Chinese accounting standards.

The airport said robust air traffic demand as well as a sharp fall in operating costs contributed to the strong profitability in the first nine months of this year.

From January to September 2015, Shenzhen Airport served 29.6 million passengers and 228,600 aircraft movements in total, up 11.4 percent and 8.9 percent year on year, respectively. Total cargo traffic grew 5.3 percent year on year to 924,000 tonnes.

Meanwhile, the airport said it will serve as many as 800,000 passengers and 5,800 aircraft movements during the week-long National Day holiday on Oct. 1-7. Daily passenger numbers averaged at 100,000.