Auckland Airport lifts profit

written by australianaviation.com.au | February 22, 2013

Auckland Airport has reported a increase of 11.3 per cent in the company’s profit after tax to NZ$76.9 million. The result, which equates to an underlying profit after tax of NZ$76.1 million (up 7.5 per cent), was based on revenues of NZ$223.5 million, an increase of 3.6 per cent.

This represents the third consecutive year Auckland Airport has declared profit increases.

Auckland Airport’s CEO Adrian Littlewood said announcing the results: “The half-year saw a continued and ambitious air service and market development focus on expanding New Zealand tourism and trade opportunities, particularly with the significant, and diverse, Chinese market.

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“We look forward to the second half of the 2013 financial year with growing confidence. Our business strategy remains on track. Future opportunities to capture the next phase of growth and expand our already significant contribution to New Zealand’s economy are, allowing for appropriate returns on our infrastructure investment and continued execution, eminently achievable,” he added.

Looking to the remainder of the year, Littlewood said: “Performance for the first six months has been slightly ahead of expectations, particularly domestic passenger volume growth. While challenges to aviation demand remain, we now have a modestly higher expectation for the FY2013 period. We are therefore lifting our guidance for the full year to between NZ$145 and NZ$153 million, subject to any material adverse events, significant one-off expenses, non-cash fair value changes to property, and volatility in global market conditions or other unforeseeable circumstances.”

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