Manchester Airports Group reports annual profits increase

Manchester Airports Group reports annual profits increase

Manchester Airports Group has posted a 12% increase in full-year profits, boosted by a rise in passengers and higher commercial revenue.

Operating profit of £73.6 million for the year to the end of March came on revenue 5.3% higher at £393.1 million, excluding the impact of Stansted, which was acquired in February.

Commercial income, including retail, car parking and property earnings, rose 5.8% to £215.4 million.

Excluding Stansted, passenger numbers grew by 1.9% to 24.5 million during the year, helped by the addition of new services, including easyJet’s Manchester-Moscow route.

The company, which also owns East Midlands and Bournemouth airports, expects passenger numbers to top 42 million in 2013/14, with Stansted included.

Chief financial officer Neil Thompson said: "Realistically, it will be a year of integration for Stansted to position it for growth next year.

"So while Stansted will be steady, the rest of the group should see growth."

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