While there exist valid concerns about the company's current debt, Airports Company South Africa (ACSA) CFO Maureen Manyama is happy with the organisation's most recent results.
- Earlier this year we had a great interview with Brooks Mparutsa (Hollard), who was Acsa's Finance Director from 2005 until 2007. Read it here!
Manyama said the results can be seen as positive, particularly as far as profit, revenue growth and the reduction in liabilities are concerned. She did, however, express concern at the decrease in capital expenditure.
For the financial year ending 31 March 2015, ACSA reported a revenue increase of 8.9%, to R7.7 billion, while operating profit rose to R3.8 billion - an increase of 17.2%. After-tax profits decrease by 8.5%, to R1.6 billion, while capital expenditure decreased by 11%, to R826 million.
ACSA, which owns South Africa's nine principal airports and has additional operations in Brazil and India, pegged strong aeronautical and non-aeronautical revenue performance, as well as an increase in the fair values of its investment properties, as principal drivers for profitability.
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