Stansted: Airport delivers boost to revenue and earnings at MAG
PUBLISHED: 14:59 15 July 2014 | UPDATED: 15:53 15 July 2014
Stansted Airport generated £245.1million in revenue and £88.9m in earnings during its first full year as part of Manchester Airports Group (MAG), according to annual results announced today.
The figures, covering the year to March, show the acquisition of Stansted in January last year helped push total group revenue to £671.2m.
Excluding Stansted, turnover for the group, which also owns Manchester, East Midlands and Bournemouth airports, grew by £33m to £426.1m, a rise of 8.4%.
Group earnings excluding Stansted grew by 9.6% to £153m and, with Stansted included, to £241.9m while operating profit excluding one-off items and the contribution from Stansted came in at £83.9m, an incease of 11.4%.
Passengers numbers excluding Stansted grew by 5.4% during the year, ahead of the market as a whole.
Stansted contributed 18m to the group-wide passenger total, its highest figure for two years. This represented annual growth of around 3.4% although month-on-month increases were regularly significantly greater as the year progressed, with MAG agreeing new deals with a number airlines operating from Stansted and starting work on an £80m reconfiguration of its passenger terminal.
Neil Thompson, chief financial officer at MAG, said: “The group has delivered another strong year of financial performance, exceeding its financial targets and delivering continued growth.”
He added: “The initial integration of Stansted into MAG has been successfully completed and the wide-ranging development and investment into the airport is well underway.
“The significant activity at Stansted and across MAG this year will generate continued strong performance and growth in 2014-15 and beyond.”