Cape Town - Airports Company of South Africa (Acsa) released its
annual financial results on Wednesday.
The state-owned airports authority reported a profit of
R188m for the 12 months to March 31 2012. The company made a loss of R221m in
2011.
Acsa’s revenue was R5.7bn, an increase of 23% on the prior
year.
Forty two percent of the revenue was from non-aeronautical
sources including parking and rental income from commercial properties it
manages.
Bongani Maseko, acting managing director, said the company increased its income sources from other revenue sources.
“It is a strategy going forward to focus on non-aeronautical
revenue.”
Maseko said Acsa investments into Brazil was already paying
off.
“”We’re now concentrating on the African market where we
hope to make some investments. It’s a definite strategy going forward,” Maseko
said.
Acsa also has a commercial interest in an airport in India.
Maseko said the increased revenue and profit was on the back
of higher tariffs.
“The tariffs have a long history and we warned the market
about the sizes of the increases years ago when we were busy with our R16bn
capex rollout.
"At the time we warned the market that we’d need to implement big
increases to recover our costs. Now we see that happening. In time however the
increases will level out,” Maseko said.
- Fin24
*Follow Fin24 on Twitter, Facebook,
Google+ and Pinterest.