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

 

Hamilton Airport reports $490,000 pre tax surplus

Waikato Regional Airport Limited

October 18, 2006.

Hamilton Airport reports $490,000 pre tax surplus

Hamilton International Airport today reported a pre tax operating surplus of $490,000 for the year ended June 30, 2005.

This was up $123,000 on budget but down on last year¹s $526,000.

After tax surplus was $238,000 compared to $350,000.

Chairman of Waikato Regional Airport Limited, John Storey, said the performance was satisfactory given increased cost pressures and the significant development phase that the airport was going through.

The surplus had been achieved on revenues of $4.65 million against $4.56 million in the previous year.

Expenses were $4.16 million against $4.03 million for 2004.

Equity at year-end was reported at $20.7million.

Capital expenditure totalled just under $3.5 million of which $1 million was funded from cash flow.

Most of this expenditure was on progress work for the terminal upgrade, apron and runway extensions and planning work associated with airport property development.

Mr Storey said total passenger numbers were up 4 percent for the year while international traveller numbers declined 2.8 percent.

Domestic passengers increased by 6.6 percent with the airport now handling 34 percent more than it did three years ago.

International numbers had been impacted by severe competition from a number of airlines operating out of Auckland.

However, in the coming year Mr Storey was confident that the airport¹s international market would continue previous growth.

Freedom Airlines¹ introduction of five flights a week to Sydney in December and development of its Fiji service would drive this.

The decision by Freedom to introduce its new A320 aircraft was also likely to increase passenger volumes, despite the withdrawal of Melbourne services.

Mr Storey said that one of the highlights of the year was the launch of its commercial land development, Titanium Park.

The company was currently in negotiations with a preferred developer.

A subsidiary company was set up last year to specifically become involved in marketing of the park.

Mr Storey said there had been a significant increase in the number of aircraft movements at the airport, due mainly to British pilot training company, CTC.

At the same time Alpha Aviation had opened its new aircraft manufacturing facility at the airport.

Rejection of Alpha¹s planning approval for the original factory site had been a disappointment.

The company continued to work with Alpha on options to meet its long-term requirements.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Policy Lessons From A Year Of Covid-19

The Reserve Bank of New Zealand – Te Pūtea Matua was in a sound position to continue to meet its mandate in the face of the COVID-19 induced economic shock. However, we must continue to transform so as to remain relevant and effective in addressing longer-term challenges, Reserve Bank Governor Adrian Orr said... More>>


Transport Industry Association: Feb 2021 New Vehicle Registrations Strongest On Record

Motor Industry Association Chief Executive David Crawford says that the February 2021 figures are the strongest for the month of February ever. Registrations of 12,358 were 8.0% up on February 2020. Year to date the market is up 7.1% (1,735 units) compared to the first two months of 2020... More>>

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>


OECD: Annual Inflation Picks Up To 1.5% In January 2021 While Euro Area Records Sharp Increase To 0.9%

Annual inflation in the OECD area picked up to 1.5% in January 2021, compared with 1.2% in December 2020. Following a rebound between December and January, the annual decline in energy prices was less pronounced in January (minus 3.9%) than in December... More>>


Hemp Industries Association: Could The Next Team NZ Boat Be Made Entirely Of Hemp?

With The America’s Cup due to start in a few days’ time, innovators from a very different sphere have been wondering how long it could be before New Zealand could be competing in a boat entirely built from hemp, with the crew eating high-energy, nutritious hemp-infused foods and wearing high-performance hemp kit..? More>>


ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>