Shanghai Airport posts slower profit growth in 2014

Hong Kong

SHANGHAI International Airport Co Ltd, China's biggest airport operator by market value, posted a slower growth in net profit in 2014 and cited global economic uncertainty as a major challenge this year.

The airport operator, which has a market capitalisation of around US$6.6 billion, posted a net profit of 2.1 billion yuan (S$466 million) in 2014, up 12 per cent from a year ago, it said in a filing to the Shanghai stock exchange after markets closed on Wednesday. The net profit growth was slower than the 18.5 per cent rise recorded in 2013, which was the fastest pace in three years, according to Thomson Reuters data.