New Zealand’s main gateway, Auckland Airport, lifts its annual profit by 11 per cent to a shade less than $NZ170m.
Auckland International Airport has reported an 11 per cent gain in annual profit, broadly in line with its guidance.
Underlying profit, which strips out changes to investment and derivative valuations, was $NZ169.9 million ($A158.17 million) in the 12 months ended June 30, from $NZ153.8 million a year earlier, the Auckland-based company said.
Sales rose 6.1 per cent to $NZ475.8m while expenses gained 2.6 per cent to $NZ120.6 million. Net profit jumped 21 per cent to $NZ215.9 million.
The airport company forecast underlying profit for the 2015 year of $NZ160 million-$NZ170 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 two per cent and nine per cent up in the year, after the company returned $NZ454 million of capital and cancelled 10 per cent of its stock.
In the latest year, airfield income and passenger services charge revenue both rose as total passengers climbed 3.8 per cent to 15.1m.
Auckland Airport’s share of profit from associates climbed 17 per cent to $NZ11.6 million.
North Queensland Airport led the way to rise by 15 per cent to $NZ8.1 million while Queenstown Airport enjoyed a 25 per cent increase to $NZ1.7 million and the Novotel hotel gained 19 per cent gain to $NZ1.9 million.