Airports Of Thailand Q2 Profit Down 42 Percent

Airports of Thailand reported a 42 percent fall in second-quarter net profit Friday, due mainly to weaker operating profit and the absence of any exceptional gain this time.

Majority state-owned AOT, which runs six airports, said in a statement, it made a net profit of THB1.83 billion baht (USD$53.2 million) in the January-March quarter, versus THB3.16 billion a year earlier, when it booked a one-off gain from compensation from a court case.

The outlook for the airport operator, already severely battered by the global economic downturn and domestic political unrest, has continued to deteriorate because of H1N1 flu worries, analysts said.