CAM’s net profit doubles

Airport operator Macau International Airport Company Ltd (CAM) saw its net profit nearly double to MOP302 million for the year of 2016 from MOP153 million one year ago, shows a company press release published yesterday.
According to the announcement, CAM raked in MOP1.33 billion (US$166.3 million) of income for the year, an increase of 8.9 per cent year-on-year. Meanwhile, total operation income of the Macau International Airport totalled some MOP4.51 billion for the whole year, which grew by 2.7 per cent year-on-year.
According to the press release, the company aims to increase its total flight movement by 8 per cent to 60,500 movements for the year as compared to 2016, in addition to boosting total passenger traffic by 3.8 per cent year-on-year to 6.85 million.
Saying the airport’s north extension project is expected to be completed and be operational during the second half of this year, the company expects the project will increase capacity to around 7.5 to 7.8 million passengers upon completion.
It added the company would commence its third phase of repayment to its shareholders this year.