PPRuNe Forums - View Single Post - MANSTON- 3
Thread: MANSTON- 3
View Single Post
Old 13th Nov 2006, 06:53
  #9 (permalink)  
eu01
 
Join Date: Aug 2006
Location: Europe
Posts: 970
Likes: 0
Received 0 Likes on 0 Posts
The airport owner Infratil has just posted its half-year net profit ($11.8 million).
There you have something about Manston as well.
Revenue from ordinary activities rose 143 per cent to $285.99m, with the increase primarily a result of acquisitions.
Those included Kent Airport (England) in August 2005, Stagecoach NZ in November 2005, and Lubeck Airport (Germany) in December 2005.
Infratil said satisfactory results were achieved at each of Infratil's major investments in the six months to the end of September.
Depreciation at Infratil Airports Europe (IAE) had resulted in an accounting loss to Infratil of $6m, in line with budget. A year ago IAE contributed $2m.
IAE continued to pursue a long-term approach to building value, Infratil said.
While the group result was in line with expectations, aspects of performance had been mixed across the three European airports.
New customers for Lubeck had been elusive, while airfreight at Kent had outstripped forecasts and freight has also rebounded at Glasgow.
But Glasgow's passenger numbers had been flat due to Ryanair's fleet management and route planning.
"The reassuring feature of the mixed performance of the European airports is that the issues are well-understood, the management team is well resourced with excellent and experienced people, and the potential rewards remain attractive," Infratil said.
eu01 is offline