Auckland up, but market softens

By Administrator |

Auckland International Airport (AIA) has reported a 12% rise in fiscal year net profits, but says that it is expecting slower passenger growth over the next year.

New Zealand's major airport gateway reported net profit of NZ$105.6m ($72.9m) for the year to June 30, up from NZ$94.3m ($65.1m) the previous year. The airport said that these earnings were driven by passenger growth of 4.6% to 11.26m during the period. International passenger growth, excluding transits, rose 6.6% to 6.1m.
AIA Ceo Don Huse noted that solid growth in revenues continued in both the aeronautical and non-aeronautical areas of the business with AIA's sales for the fiscal year up 7.7% to NZ$282.6m ($195.3m) compared with the previous year.
Sales from the company's retail operations, comprising mainly income from duty free shops, rose by 3% to NZ$84.7m (58.5m). Huse said that AIA now expects a slowdown in international passenger growth to 5% a year due to a slowing of growth in international arrivals. The easing pace also reflects the above average annual growth experienced recently.

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