Auckland Airport improves profit

Auckland International Airport Limited has recorded a 4.7 per cent increase in first half profit for the six months ending December 31, despite a fall in retail revenues.

The airport recorded a profit of NZ$54m (A$42m) for the six month period, compared to NZ$51.6m (A$40m) during the corresponding period last year. This was on the back of a 0.6 per cent decline in revenue to NZ$182.9m (A$142m), attributed to lower retail revenues, while aeronautical revenues remained in line with the prior corresponding period.

Auckland Airport chairman, Tony Frankham, said, “We are pleased with our strategic and operational progress over the last six months. Our financial results are beginning to show some benefit from our business achievements and from an improving passenger volume trend. Continued tight management of operating and capital expenditure – to be ‘fighting fit’ as part of our growth strategy – is also evident in our half-year results.”

Looking ahead, the company noted that a key part of its growth strategy is aimed at growing the traffic between Asia and Auckland, as well as pursing other key investments such as its recent purchase of stakes in Cairns and Mackay airports in January. It also gave guidance that it expects to achieve a full year profit of NZ$100-$105m (A$77.7-81.6m).