KUALA LUMPUR: The absence of one-time gains sent Malaysia Airports Holdings Bhd’s (MAHB) net profit plunging 84.4% to RM10.68 million in the third quarter ended Sept 30, 2016 (3QFY16) from RM68.5 million a year ago. In a statement, MAHB said excluding the one-time gains, its normalised profit before tax (PBT) for 9MFY16 would have improved by 593.7% or RM84.5 million, while normalised net profit would rise to RM36 million from a normalised net loss of RM5.2 million a year ago. MAHB said its passenger movements for domestic and international sectors in Malaysia gained 8.3% and 10.9% in the third quarter, the highest quarter in 2016. Although its overseas operations’ 3Q traffic was higher than the previous two quarters, it was down 3.1% year-on-year. It also expects its recently secured three-year extension for facility management at the Hamad International Airport, in Doha, Qatar — valued around RM180.8 million — to bode well for the group’s overseas opportunities.

Source: The Edge Markets October 28, 2016 01:51 UTC