9 Oct 2012

Christchurch Airport profit higher than expected

9:04 am on 9 October 2012

Christchurch International Airport has reported a net profit of $19.6 million for the year to June, due to strong returns from the company's commercial operations.

The profit includes a gain on the revaluation of the company's investment property portfolio of $4 million.

Excluding the impact of this revaluation gain, the airport's operating profit of $15.5 million is 30% ahead of budgeted expectations.

The company has declared a final dividend for the year of 7.65 cents per share, bringing the total dividend for the year to 15.15 cents.