GAP Posts Drop In Net Quarterly Profit
Mexican airport operator GAP on Wednesday posted an 18 percent drop in fourth-quarter net profit but said it was recovering from last year's flu scare.
The company, Grupo Aeroportuario del Pacifico, said in a stock market filing it earned MXP331 million pesos (USD$25 million) from October-December.
The drop in GAP's net profit was due to lower financial gains as the peso appreciated against the US dollar.
Quarterly revenue edged up 0.7 percent year-over-year to MXP832 million.
GAP said business had begun to pick up following the H1N1 flu scare in the first half of 2010 that led to a slump in travel to Mexico.
Still, total passenger traffic was down 2 percent in the quarter, year on year.