The Airport Authority recorded a profit of $993 million in the first half of the 2006-07 financial year, up 13.2% on the same period last year.

Its turnover grew 9.2% to $3.8 billion, while operating expenses rose 8.5% to $1.42 billion.

The strong performance in passenger and cargo throughput underpinned the authority's encouraging financial results. Total passenger volume rose 9.2% to 22.7 million, cargo throughput grew 3.5% to 1.8 million tonnes, and aircraft movements increased 6% to 140,700.

The authority's Chief Executive Officer Dr David Pang said the organisation achieved a breakthrough on the Mainland with the conclusion of a joint venture with the Zhuhai Municipal Government that will see the authority manage Zhuhai Airport for 20 years.

"By making the Airport Authority an insider in the Mainland aviation system, the agreement is also a key step in our long-term strategy of supporting the co-ordinated development of a Pearl River Delta airport system so as to better serve the PRD region," he added.