THAILAND. Airports of Thailand (AoT) has reported a surge in Q1 revenues (1 October to 31 December) of over +20% to Bt6,221.63 million (US$187.4 million).
Operating income, buoyed by strong year-on-year rises in traffic at the six AoT airports, increased by +28% to Bt1,396.51 million (US$42 million). The first quarter of the previous year was hit by the effects of political unrest in November 2008. Net profit for the Q1 2009/2010 period rose by +147% to Bt798.05 million (US$24 million).
As previously reported, in Q1 AoT also sold its 5% stake in King Power Duty Free Co, as part of its move to divest its shares in a series of airport-related service companies.
AoT sold 100,000 shares back to King Power at their book value as at 31 December 2009, which was Bt195,510,000 (US$5.9 million). AoT made a substantial profit on the deal, having bought the shares originally for Bt10 million.
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