Value of AIAL's assets increases $1.4 billion
24 July 2006
Value of AIAL’s assets increases $1.4 billion
Auckland International Airport Limited (AIAL) has completed a revaluation of its property, plant and equipment and investment properties in accordance with applicable financial reporting standards. The last revaluation of AIAL's property, plant and equipment was undertaken in 2002. AIAL's investment property portfolio is revalued annually.
The revaluation, which has been undertaken by independent professional valuers, has resulted in an increase of $1,399 million in the value of AIAL’s non-current assets. Total non-current assets as at 30 June 2006, excluding work-in-progress at that date, are now estimated to be $2,698 million. The new asset values, compared with the present book values, are summarised as follows: