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Airport's group profits soar 18.9%

Airport groups profits soar 18.9%

Manchester Airports Group has reported increased revenues and operating profits in the six months to September 30.

It announced that revenues were up 7.7%, mainly due to a rise in passenger numbers, while operating profits increased by 18.9% to £59.1 million.

Passenger numbers were 3.5% higher after adjustment for the impact of last year's ash cloud disruptions, while there was also growth in retail and car parking yields.

The group's reported pre-tax profit fell by £17.2 million to £45 million, largely due to a one-off credit of £25.4 million due to revised pension calculations declared last year.

It was "encouraged" by travel industry growth during the first six months of the Airport City project, which saw several new route announcements.

      

Copyright Press Association 2011
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