Shanghai International Airport Sees 31 Pct Growth in Net Profits

Shanghai International Airport Company said Friday that its 2017 net profits are expected to grow 31.3 percent to 3.68 billion yuan (584.6 million U.S. dollars).

The company, which operates Shanghai Pudong International Airport, the country's second largest airport in terms of passenger volume, said its business revenue is estimated to rise 15.9 percent from a year earlier, to 8.06 billion yuan in 2017.

It attributed the strong profit growth to better-than-expected performance at the airport, which saw annual passengers increase 6.1 percent year on year to top 70 million last year, according to the preliminary financial report the company delivered to the Shanghai Stock Exchange.

Its earnings per share increased 30.8 percent from a year earlier to 1.91 yuan.

The company also expect its income from investment to surge 33.8 percent year on year to 976 million yuan in 2017.

The company's share price edged up 0.49 percent to 46.86 yuan Friday.