ACSA CFO pleased with results, despite company's large debt

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.

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.

  • Stay connected, up to date and in the loop on what is happening in the world of finance and keep track of newly published expert insights and interviews with CFOs and CEOs. Become an online member and receive our newsletter, follow us on Twitter and join us on LinkedIn.