Marco Polo

It comes back to the point, who will pay the projected HK$ 136 billion for it ? Not CX that is for sure. They are busy building their own cargo building.


HK Airport Authority Last FY Net Profit Up 42% At Record HK$4.04 Bln 30 June 2011 HONG KONG (Dow Jones)--Airport Authority Hong Kong, which operates the city's international airport, said Wednesday its net profit for the fiscal year ended March 31 rose 42% to a record HK$4.04 billion (US$519 million) because of strong demand for air travel as the global economy recovered.
The airport operator's net profit was up from HK$2.84 billion in the previous 12 months. Its return on equity rose to 11.1% from 7.8% and its revenue increased 17% to HK$10.58 billion from HK$9.02 billion.
"Earnings growth in the near term is also expected to be tempered by slower traffic growth and the higher base that was created in fiscal 2011," Hui said.
The airport handled 51.5 million passengers during the period, up 9.7% from 47.0 million a year earlier, and cargo throughput rose 16.5% to 4.2 million metric tons from 3.6 million tons.
The unlisted government-owned airport authority said it would pay the Hong Kong government a dividend of HK$3.1 billion for the past fiscal year, down from HK$4.5 billion worth of ordinary and special dividends it paid in the previous fiscal year http://online.wsj.com/article/BT-CO-...29-702401.html


HONG KONG. Airport Authority Hong Kong (AAHK) revenues from retail licences and advertising surged by +22.8% in the financial year to 31 March, hitting HK$3.58 billion (US$460 million). The retail & advertising division accounted for 33.8% of group turnover in the year as overall revenues climbed by +24.9%. Passenger traffic rose by +9.7% year-on-year to 51.5 million.
http://www.moodiereport.com/category.php?id=36


BUT
Lower import tariffs threaten spend on luxury duty-free goods in Hong Kong 30 June 2011
A plan by the Chinese government to lower import tax on luxury goods may threaten the allure of duty-free goods for high-spending shoppers.
..............the Chinese Ministry of Commerce announced this week that it had reached agreement in principle to lower import tax in the hope of boosting domestic consumption.
Analysts have suggested the duty on certain luxury goods such as watches and gold could be cut to as little as 2% from current levels of 15-30%. And they predict a major knock-on effect on duty-free sales. Overall retail sales in Hong Kong rose 28% in April 2011.
One fashion supplier .... said that if the mainland tariff cut went ahead then it would severely impact Hong Kong duty-free retailers and upset those with development plans in progress. “I don’t know if DFS will rethink plans for their major new Causeway Bay store,” he said http://www.dfnionline.com/article/Ma...e-1861242.html