Malaysia Airports up 2% on non-aeronautical revenue growth plan

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KUALA LUMPUR (Dec 3): Malaysia Airports Holdings Bhd (MAHB) rose as much as 1.6% after a senior official from the airport operator said it planned to grow its non-aeronautical revenue.

MAHB shares rose as much as 11 sen to RM6.91, but reduced gains at afternoon break. At 12.30pm, the stock settled at RM6.83, with 250,400 units changing hands.

Yesterday (Tuesday, Dec 2), MAHB Senior General Manager Khair Mirza told reporters at the Future Travel Experience (FTE) Asia 2014 conference and exhibition that MAHB plans to roll out initiatives to enhance passenger experience and lift non-aeronautical revenue.

According to Khair, who was speaking at the Kuala Lumpur International Airport, MAHB's non-aeronautical revenue has been mainly derived from non-airport operations business and commercial activities.

His comments came at a time when MAHB's financials had weakened. In the third quarter ended Sept 30, 2014, MAHB recorded a steep drop in net profit to RM1.61 million, against RM112.78 million a year earlier.

Cumulative nine-month net profit fell to RM85.64 million, from RM340.59 million a year ago.