THAILAND. Airports of Thailand (AoT) has posted an +11.1% increase in Q3 revenues (April to June) to THB5.1 billion (US$151.3 million). This included growth of +7.1% in non-aeronautical revenues, which hit THB1.5 billion (US$44.5 million).
The company said its figures included a one-off THB2.7 billion (US$80.1 million) payment from King Power International Group (Thailand) in June, following the recent protracted court case between the two companies over the retailer’s Bangkok Suvarnabhumi contracts. This includes deferred minimum guarantees, plus related charges that were generated during the dispute, but were not booked by AoT at the time.
As a result the company’s net profit jumped eleven-fold on the same period last year to reach THB3.61 billion (US$107.1 million).
The non-aeronautical business included concession fees in the quarter of THB473.56 million (US$14 million), up +22.8%.
In the first nine months AoT reported revenues of THB16.6 billion (US$492 million), a leap of +21% on the same period last year. Non-aeronautical revenues climbed by +22.3% to Bt4.9 billion (US$145.4 million). Within this, concession fees rose by +39% to THB1.4 billion (US$41.5 million). Net profit in the period tripled to THB7.1 billion (US$210.7 million).
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