Auckland Airport lands record profit
By Phil Boeyen, ShareChat Business News Editor
It's been a record-breaking six months for Auckland International Airport (NZSE: AIA) with the company posting increases in a number of key targets including a 15% profit jump to $28.5 million.
For the half-year ended December AIA also had a record number of passenger movements. International passenger growth rose 7.9% in the period and domestic passenger growth rose 5.5%.
Revenue hit a record $93 million, up from $84.6 million the previous year.
The airport says the latest result includes the effect of the increases in landing charges and the airport development charge, which took effect at the start of September.
However the result will not reflect any increased landing charge revenue from its biggest customer, Air New Zealand. The airline last year began court action against the charges and is continuing to refuse to pay the fee increase.
AIA says the increased levels of passenger and aircraft activity have meant excellent results for the half-year.
"While a pattern of continued growth is an expectation for companies operating in the global airport sector, the growth levels experienced at Auckland in this particular period are regarded as very positive," the company says.
Revenue growth from the airport's retail clients also helped the latest result.
The 15% profit increase compares with 10% forecast at the company's AGM last November, and the airport says there is every indication the second half of the year will be just as strong
A 5 cents per share interim dividend will be paid.
Related News
Auckland Airport holds its own in first-half, new hotel for RWC Hercules upgrade delays cost 100 jobs in Blenheim Auckland Airport heads to Supreme Court over land claim Auckland Airport welcomed more overseas flights in '09, but fewer passengers Daily ShareChat: Auckland International Airport Auckland Airport gains after capital raising, risks of Queensland foray downplayed Auckland Airport institutional shareholders snap up discounted stock AIA seeks $126m for Queensland foray Daily ShareChat: Auckland International Airport Auckland airport seeks tourism growth through North Queensland acquisitions
|
Previous News
Sharemarket News By Email
Stock Quote
At a Glance
| NZX 50 Index |
3225.14 |
 |
1.70 |
| S&P/ASX 200 |
4818.10 |
 |
3.90 |
| Dow Jones Industrials |
10624.70 |
 |
12.80 |
Comment & Analysis
|
“
Fund managers bleary from a night celebrating the success of their own kind awoke Thursday morning to news that an outsider, and upstart competitor, had slipped up.
After weeks of controversy the resignation of Peter Huljich from the investment/KiwiSaver company he started was not really surprising.
Few rivals will miss him but the mood amongst [...]
”
David Chaplin More »
|
|
|