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New Zealand : AUCKLAND INTERNATIONAL AIRPORT announced 11% boost in underlying profit to around $NZ170m

August 28, 2014

Auckland International Airport has revealed in an announcement that its yearly profit has grown mostly at the level of its expectations to stand at 11%.

The airport company has disclosed that it has reported underlying profit of $NZ169.9 million ($A158.17 million), without adjustments to investment and derivative valuations, for the 12-month period ended June 30, 2014, up from the last year s figure of $NZ153.8 million.

The company has stated that it has recorded a 6.1% growth in sales to $NZ475.8m. There was a 2.6% increase in expenses during the reviewed period to $NZ120.6 million. The Auckland-based business has witnessed a 21% boost in its net profit during the 12-month period ended June 30, 2014, to reach the level of $NZ215.9 million.

On the outlook for the coming year, it seems that the company does not expect any notable growth in its earnings for the year 2015 in view of its forecast of an underlying profit of $NZ160 million to $NZ170 million.

The airport company, however, has stressed on its added focus on earnings per share, which is likely to grow between 2% to 9% in the coming year. This is because of returning of capital of $NZ454 million and cancellation of 10% of stock by the company.

According to the company, growth in revenue in last year from both airfield income and passenger services charge was attributable to a 3.8% increase in passenger traffic to 15.1m travelers.

On the contribution of profit from associates, the company has reported a 17% boost to touch the figure of $NZ11.6 million at the end of last year.

In its latest report, Auckland International Airport has stated that Queenstown Airport has reported a growth of 25% to $NZ1.7 million, whilst Novotel hotel witnessed a 19% increase to $NZ1.9 million. Another top performer during the year under review has been North Queensland Airport, which saw a 15% boost in its profit to $NZ8.1 million.

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Source: TendersInfo (India)

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