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Shenzhen Airport net soars 275pc in first half

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Shenzhen Airport, the operator of the mainland's fifth-busiest airport, saw profit surge 275 per cent in the first half as Beijing's stimulus package boosted air traffic.

The Shenzhen-listed firm posted net earnings of 283.4 million yuan (HK$321.46 million), boosted by a 12.1 per cent year-on-year increase in passenger numbers.

The airport handled 11.86 million passengers in the period, lifting sales 2.42 per cent to 794.78 million yuan.

The surge in profit was also attributed to last year's lower base, because of a provision of 236 million yuan made for a lawsuit.

Mainland economic growth accelerated to 7.9 per cent in the second quarter from 6.1 per cent in the first quarter, resulting in robust business and tourism activity nationwide.

Shenzhen Airport's nearby competitor, Guangzhou Baiyun International Airport, also benefited from rising air traffic. It handled 17.83 million passengers in the first half, up 7.2 per cent from a year earlier.

However, the mainland's growth failed to lift traffic demand across the border at Hong Kong International Airport. Chek Lap Kok handled 22.4 million passengers in the first half, down 8.2 per cent.

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