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JAPAN. A strong retail and food & beverage performance helped drive up revenues and profits for Japan Airports Terminal Co (JATCO) during the first nine months of the 2012/2013 financial year.
The company, which operates Tokyo International Airport (Haneda), as well as duty free at Narita International Airport, Kansai International Airport and Central Japan International Airport, has reported consolidated operating revenues of ¥103,762 million (US$1.1 billlion) in the nine months to the end of December, up +6.7% year-on-year.
Meanwhile, ordinary income totalled ¥3,698 million (US$39.4 million), compared to a net loss of ¥1,7187 million (US$76.6 million) during the same period in the previous year.
Operating revenues from merchandise sales operations increased to ¥60,477 million (US$644.7 million), up +9.6% year-on-year, with opening income up +7.8% to ¥3,787 million (US$40.4 million).
Meanwhile, operating revenues from F&B operations rose +9.6% year-on-year to ¥12,851 million (US$137 million), resulting in a profit of ¥122 million (US$1.3 million), compared to a loss of ¥642 million (US$6.9 million) during the same period the previous year.
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However, despite the encouraging figures, the company pointed out that growth had eased as the year progressed, due to the global economic slowdown, and warned it could continue to feel the impact.
“Sales at domestic terminal stores exceeded the figure for the same period of the previous year due to a number of factors including recovery of passenger numbers, opening of new directly managed stores in the departure gate lounge in domestic Terminal 1, renovation of shops near departure lobby area and sales promotion of products originally developed for Haneda Airport,” JATCO said.
“Sales at international terminal stores greatly surpassed the figure for the same period of the previous year. The increase was due to overall growth in the passenger volume offsetting a decline of the passenger volume from China triggered by the Senkaku Islands disputes, combined with opening of new directly managed shops in Narita International Airport and Kansai International Airport.”
Looking forward, JATCO said its priorities would include further strengthening its food-related business, decreasing vacant rental space, reviewing and reducing costs for operating terminal buildings and exploring new revenue sources.