Auckland Airport beats full-year guidance
International passenger numbers grow.
UPDATED: Auckland Airport 'optimistic' on Chinese travel despite questions about economic growth
EARLIER: Auckland International Airport [NZX: AIA] beat its own guidance with a 3.8% gain in underlying annual earnings.
The company says profit on that measure may rise as much as 8.3% in 2016.
Underlying profit, which excludes some revaluations of property and derivatives, rose to $176.4 million in the 12 months ended June 30, from $169.9 million a year earlier. Sales rose 6.9% to $508.5 million.
Earnings exceeded the $167-174 million guidance the company gave in February, which was itself an upgrade.
Growth in international passenger volumes helped propel a 7.1% gain in passenger service charges to $140.9 million, its biggest source of revenue, while retail income, mainly from the stores in its terminals, rose 3.9% to $132 million. Airfield income rose 6.5% to $93.3 million and the company also recorded increases in rental income.
Total passenger movements through the airport climbed 5% to 15.8 million, led by international travellers.
"This growth reflects the positive trends in the New Zealand tourism industry, which includes a shift towards high-value international visitors," says chairman Henry van der Heyden.
Underlying earnings for 2016 are expected to be in a range of $183-191 million, he says.
Net profit rose 3.5% to $223.5 million. The company will pay a final dividend of 7.3c a share on October 16, with a record date of October 2.
(BusinessDesk)
Jonathan Underhill
Mon, 24 Aug 2015
Mon, 24 Aug 2015
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Auckland Airport beats full-year guidance
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