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

 

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news