The Airport Authority Hong Kong (AA) recorded a net profit of 180.77 million US dollars for the financial year 2004/05, achieving a 265 percent increase over the last fiscal year, it said Wednesday.

This was also the Authority's fifth consecutive year of profit.

According to the Authority, the year saw a record turnover of 834.10 million US dollars, a rise of 29 percent over the previous year. Operating costs before depreciation reported a slight increase of 4 percent to 359.36 million US dollars.

Return on net assets (RONA) of AA reached 4 percent, a significant improvement from last year's 1 percent, to a level that is close to similar infrastructure companies in Hong Kong, it said.

The AA Board has declared to pay a dividend of 1,000 million Hong Kong dollars (128.21 million US dollars) to the Hong Kong government.

Source: Xinhua