Guangzhou Baiyun Airport Nine-Month Net Profit Up 24% Year on Year

Guangzhou Baiyun International Airport (CAN) reported its net profit increased 24.35 percent in the first nine months of this year due to strong air travel demand.

Its net profit for the nine months ended September 30 was 926.277 million yuan, climbing 24.35 percent over the same period a year earlier. Basic earing per share stood at 0.81 yuan.

According to a statement filed with the Shanghai Stock Exchange, the company saw its operations revenue grew 2.86 percent year on year to 4.196 billion in the first nine months. Operating profit surged 35.37 percent to 1.276 billion yuan.

The airport's third-quarter net profit came in at 255.987 million yuan, up 41percent from 181.54 million yuan in the same period a year earlier.

Guangzhou airport handled 41.29 million passengers and 1.12 milliontonnes of cargo and mail in the reporting period, up 1.2 percent and 6.5 percent respectively year on year. Aircraft movements dropped slightly to 306,400 in the first nine months compared with the same period last year.

The airport's total assets stood at 11.718 billion yuan at the end of September 2015.