Mexico's Asur, the operator of nine airports including one serving the Caribbean beach resort Cancun, posted a 20 percent increase in second quarter net profit as Mexico's tourism industry enjoys a boom.
Asur said on Monday its April-June net profit was MXP161 million pesos (USD$15 million), up from MXP134 million (USD$12.5 million) in the same period a year earlier.
Revenue climbed 11 percent to MXP573 million (USD$53.3 million), mainly from higher passenger traffic through its airports. Passenger numbers rose 6.7 percent in the quarter.
Mexico, one of the top 10 tourist destinations in the world, enjoyed a record year in 2004 and was on track to do even better this year.
About 9.35 million foreign tourists visited Mexico in the first five months of 2005, up more than 10 percent from last year as the country benefits from fears of terrorist attacks in other international tourist destinations.
Asur operates Cancun Airport as well as the terminals in the resorts of Cozumel and Huatulco. It also runs the airports in the cities of Oaxaca, Veracruz and Villahermosa.
In the second quarter, its earnings before interest, taxes, depreciation and amortization -- EBITDA -- rose 10 percent to MXP357 million (USD$33.2 million).
(Can you imagine what would happen if GOL Brasil sets a hub at Cancun)