AOT's profit drops on political problems and China's policy
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Airports of Thailand 's net profit in the second quarter ending March dropped by 18.05 per cent on year to Bt3.694 billion.
Total revenues also dropped by Bt888.10 million. Total expenses rose by Bt337.83 million, though income tax expenses decreased by Bt431.23 million.
In the statement to the Stock Exchange of Thailand, the company said that the economic recovery in the US, the EU and Japan during October 2013 to March 2014 boosted growth in Thailand's tourism and airline industry.
"However, the ennforcement of the Chinese tourism law since October 2013 has a insignificant impact. Meanwhile, the ongoing local political instability also affected the operations of Airports of Thailand," it said.
The number of passengers of all six airports in the six-month period expanded by only 5.09 per cent. During January and March, the growth rate was only 0.32 per cent.
