Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Christchurch Airport records half-year profit

Media release for immediate use

Christchurch Airport records half-year profit

Christchurch International Airport Limited (CIAL) has recorded a net profit after tax of $7.4m for the six months ended 31 December 2012.

CIAL Chief Executive Jim Boult says though the net profit after tax is 7.5 per cent down on the previous half year, earnings before interest costs, tax depreciation and amortisation (“EBITDA”) – the company’s key operational financial performance measure - at $33.1m, was 5.2% ahead of the same period last year.

Total revenue for the six months to December 2012, at $59.6m, was 7.9% ahead of the same period a year earlier. This was a result of increased property and commercial revenues, with aeronautical revenue showing minimal growth (0.7%) as compared to the same period last year, as a result of lower passenger numbers.

“The six months to December 2012 saw fewer passenger movements over the same period last year,” Mr Boult says. “The loss of a significant portion of Christchurch’s hotel accommodation, the Convention Centre and many sporting facilities continues to have a significant effect on passenger throughput, particularly for conference activity and for larger tour groups.”

Total passenger numbers for the period reflect a 2.3% drop on the same period last year. International passenger movements were 7.9% behind the same period last year, whilst domestic passenger movements were only 0.4% behind last year.

Non-Aeronautical revenue of $38.8m was $4.2m (12.2%) ahead of last year. This includes a full six months trading for the International Antarctic Centre, as compared to only one month for the comparative period.

The other main driver for the increase in non-aeronautical revenue was increased property rental income arising from new developments in Dakota Park and other additions to the overall lease portfolio (e.g. McDonalds).

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news