Manchester Airports Group saw annual profits rise by 5.8% to almost £360 million in the year to March.
The performance – the seventh consecutive year of growth in adjusted earnings [EBITDA] – was driven by a 6.7% increase in passenger numbers to 58.9 million across its three airports.
The biggest increase came at Stansted which saw 7.4% growth to 26.1 million passengers, while Manchester saw a 6.5% rise to 27.9 million while East Midlands grew by 4.3% to 4.9 million.
MAG sees the combination of the current market environment and the available runway capacity at its three UK airports “as an opportunity to build and strengthen its business further”.
The company said: “The group continues to make substantial investments in transforming its major airports to equip them to handle future growth.
“As Britain prepares to exit the European Union, MAG is confident that it has the right strategy to deliver on its full potential.”
MAG chief executive, Charlie Cornish, said: “The world class connectivity that our airports are delivering will ensure that MAG continues to play a leading role in powering the UK economy.
“Manchester and London Stansted are the two largest UK airports with significant runway capacity and our investment will allow us to meet continued demand for aviation growth both in and out of the UK.
“The government’s support for airports looking to make the best use of existing capacity provides a clear framework for growth, and it is critical that it now matches its backing for Heathrow expansion with specific and practical proposals to improve rail access and maximise the potential of airports like Manchester, London Stansted and East Midlands.
“As the UK prepares to leave the EU, we are confident that the UK Government and the EU recognise the importance of providing confidence to passengers and airlines, and we welcome the commitment from both sides to putting in place a framework that will enable air services to continue post Brexit.
“Looking forward, our resilient foundations, healthy financial position and attractiveness of our UK airports will ensure that the business is well-placed to respond to any challenges that may be felt by the UK economy in the future and we continue to take a positive long-term view of our prospects for growth.”
More: Manchester Airports Group to introduce ‘Proof’ bar brand
Stansted reports ‘busiest ever May’ following new transatlantic routes
Stansted in top five European airports for growth in direct flights