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

 


Auckland Airport meets guidance with 11% gain in earnings

Auckland Airport meets guidance with 11% gain in underlying earnings

By Jonathan Underhill

Aug. 26 (BusinessDesk) - Auckland International Airport, the country’s main gateway, reported an 11 percent gain in full-year underlying earnings, broadly in line with guidance it gave in the first half, as aeronautical charges led a gain in revenue that outpaced growth in expenses.

Underlying profit, which strips out changes to investment and derivative valuations, was $169.9 million in the 12 months ended June 30, from $153.8 million a year earlier, the Auckland-based company said in a statement. Sales rose 6.1 percent to $475.8 million while expenses gained 2.6 percent to $120.6 million. Net profit jumped 21 percent to $215.9 million.

The airport company forecast underlying profit for the 2015 year of $160 million to $170 million, suggesting it expects no earnings growth on that measure in the coming year. But the company said its preferred measure was earnings per share, which would be between 2 percent and 9 percent up in the year, after the company returned $454 million of capital and cancelled 10 percent of its stock.

In the latest year, airfield income rose 7.4 percent to $87.6 million while passenger services charge revenue rose 9.4 percent to $131.6 million. The bulk of aeronautical revenue comes from passenger charges and in the latest year, international passenger numbers, rose 5.1 percent to 8.2 million while domestic passenger numbers rose 2.2 percent to 6.9 million. That saw total passengers climb 3.8 percent to 15.1 million.

Income from retailing rose 2.2 percent to $127 million and car park income gained 6.1 percent to $42.8 million. Total rental income rose 7 percent to $59.3 million.

Auckland Airport's share of profit from associates climbed 17 percent to $11.6 million, led by a 15 percent gain to $8.1 million for North Queensland Airports, a 25 percent increase to $1.7 million for Queenstown Airport and a 19 percent gain to $1.9 million for the Novotel hotel.

The company will pay a final dividend of 7 cents a share, with tax paid to the company rate of 28 percent, up 12 percent from a year earlier.

The shares fell 0.8 percent to $3.72 and have declined 4.9 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Planes: Jetstar Launches Regional Network

Jetstar, the Qantas Airways budget offshoot, launched its new regional network in New Zealand with special $9 one-way fares and has narrowed down its choices to five routes and four destinations - Nelson, Napier, New Plymouth, and Palmerston North. More>>

ALSO:

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news