Auckland Airport expects to record higher asset values in annual earnings

Friday 14th August 2015

Auckland International Airport expects to record a higher value for its assets when it reports annual earnings later this month.

The airport company expects the value of its buildings and services, runway, taxiways and aprons assets within the property, plant and equipment portfolio to increase by about $109 million when it reports earnings for the year ended June 30, along with a revaluation expense of $12 million, it said in a statement. It last valued the assets for the 2011 financial year.

The investment property portfolio is expected to have increased by about $57 million over the year, including a $6.3 million gain recorded in the first half earnings, it said.

The airport is scheduled to report its annual earnings on Aug. 24. The company will probably post annual underlying earnings of $175 million, up from $170 million the year earlier, according to a Reuters poll of analysts.

The company's shares slipped 0.4 percent to $5.20, and have gained 23 percent so far this year.

BusinessDesk.co.nz

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