Airports Company South Africa (Acsa), owner of South Africa’s nine principal airports with additional operations in Brazil and India, has reported an 8.9% increase in revenue in the year ended 31 March 2015.
CEO Bongani Maseko said in a statement that the group continued to produce strong results in the year ended 31 March 2015, achieving after-tax profits of R1.6 billion, albeit an 8.5% decline from the R1.7 billion in 2014.
He said profitability was driven mainly by strong aeronautical and non-aeronautical revenue performance along with an increase in the fair values of Acsa’s investment properties.
Total assets remained stable at R27.4 billion, compared to R27.9 billion in 2014. Cash generated by operations increased by 4.1% to R4.6 billion, up from R4.4 billion in 2014.
To further boost growth, Maseko commented that in the next three years Acsa planned to develop a model to secure new business in Africa and other emerging markets.
Airports company seeks new growth opportunities in Africa
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