Highlight Malaysia Airports' 4Q net loss at RM43m on finance cost, forex loss

by **Cals** Thu 18 Feb 2016, 02:04

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[size=28]Malaysia Airports' 4Q net loss at RM43m on finance cost, forex loss

By Danial Idraki / theedgemarkets.com | February 17, 2016 : 2:56 PM MYT

KUALA LUMPUR (Feb 17): Malaysia Airports Holdings Bhd (MAHB) posted a net loss of RM42.9 million in the fourth quarter ended Dec 31, 2015 (4QFY15), from a net profit of RM577.73 million a year earlier. The net loss was due to higher finance cost and foreign exchange (forex) losses.

In a filing with Bursa Malaysia today, Malaysia Airports said revenue however, came in higher at RM1.04 billion, compared to RM711.33 million.

Malaysia Airports said in its income statement that finance cost rose to RM177.54 million, from RM52.74 million. Forex loss stood at RM161.59 million, compared to a gain of RM3.82 million.

Full-year net profit fell to RM37.84 million, from RM663.37 million a year earlier. Revenue was higher at RM3.87 billion, from RM3.34 billion.

“The traffic growth of 4.8% in 2015 for the MAHB (Malaysia Airports) system of airports is a positive indication of continuing potential demand for air travel. Despite another challenging year, Malaysia’s passenger traffic grew by 0.5% in 2015, over 2014.

"Based on the prevailing factors, we expect 2016 passenger traffic for Malaysia airports to record 86.0 million on movements, or 2.5% above 2015 passenger numbers. Aircraft movements is expected to grow along the passenger growth at 2.4% in 2016," the group said.

At 12:30pm, Malaysia Airports shares rose five sen or 0.81% to RM6.19, for a market capitalisation of RM10.27 billion. The stock saw 419,900 shares exchanging hands.
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