BCIA: Fiscal 2017 Net Earnings Beat Estimate on Duty-Free Shops Revenue Growth; FVE Raised to HKD 15
Narrow-moat Beijing Capital International Airport delivered a strong 2017 result, with 41% year-on-year net earnings growth beating our expectation by 10% on strong nonaeronautical revenue (mainly duty-free shops), while the 10% year-on-year top-line increase was as expected. For 2018, revenue from duty-free shops will remain the primary growth driver, while the ongoing shift toward more profitable international flights should provide additional top-line upside for the aeronautical segment, desp...Beijing Capital International Airport is engaged in the ownership, operation and management of aeronautical and non-aeronautical businesses at the international airport in Beijing, the People's Republic of China. Co.'s aeronautical business operations include aircraft landings and take-off services and passenger service facilities, ground support services and fire-fighting services for domestic and foreign airlines. Co.'s non-aeronautical business consists of the business franchising of: ground handling agent services; in-flight catering services; duty free and other retail shops in the terminals; restaurant and other food and beverage businesses, and leasing of advertising spaces.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.