23 Aug 2017

Immigration and tourism lift Auckland Airport profit

9:57 am on 23 August 2017

The country's biggest airport has reported a big increase in profit, as the tourism boom and record immigration continue to boost passenger numbers.

Auckland Airport

Auckland Airport Photo: 123RF

Auckland International Airport's full year net profit rose almost 27 percent to $332.9 million in the year ended in June - well ahead of market expectations.

The underlying after-tax profit rose 16.5 percent to $247.8m in the year just ended, and was forecast to rise to between $248m and $257m in the current year.

Revenue rose 9.7 percent to $629.3m, while expenses rose 8.8 percent to $156.2m.

Company chair Sir Henry van der Heyden said the company was spending more than $1m a day to develop core airport infrastructure, with 44 projects under way, as the number of passengers rose 10.2 percent to 19 million in the year.

"Auckland Airport remained focused on its customers during the 2017 financial year, ensuring their journeys through the airport are fast and efficient and they have a range of options when parking, shopping or staying here."

He said the airport's new charges, introduced late in the financial year, would help pay for its $2 billion infrastructure programme over the next four years.

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