MANCHESTER AIRPORTS GROUP DELIVERS STRONG INTERIM RESULTS

Manchester Airports Group – M.A.G – the largest UK-owned airport operator, is reporting a strong performance in its interim results driven by increases in both passenger numbers and commercial revenues.

A total of £31 million to MAG’s shareholders and, of that, Manchester council will get £11 million, with Stockport and each of the other eight councils getting £1 million each.

Revenue generated for the first half of MAG’s financial year, from April to end September 2014 grew to £421.4m, up 8.1% on last the same period last year, while passenger numbers increased by 8.5% to 28 million, returning an Interim Dividend for the half year to September 2014 of £31 million. £46 million was paid in July 2014 in respect of the full year ended 31 March 2014.

The number of destinations accessible from M.A.G’s four airports – Bournemouth, East Midlands, Manchester and Stansted – is now at record levels (+4% to 277), including the arrival of new flights to Jeddah, Eindhoven and Bologna and additional capacity provided on many existing routes such as Abu Dhabi and New York.

Investment has continued: terminal improvements at East Midlands and Stansted; significant improvements made to airport security and retail facilities along with expansion of the car park estate; MAG’s property investment portfolio succeeds as deals have been announced at Manchester’s Airport City with DHL and PZ Cussons.

London Stansted has been the fastest growing major airport in the South East (+11.9% passenger numbers) and is now handling 2 million more passengers a year than it was at acquisition. 

Below: Infographic Manchester Airport 6 months results

Manchester Airport has seen scheduled international passenger traffic grow by 12% following a host of new route launches and the introduction of increased capacity on existing long haul routes. The ongoing ‘Fly Manchester’ marketing campaign has been applauded in communicating to passengers that there is no need to make the long journey to use congested airports in the South. As the airport grows it will continue to play a vital role in generating employment and commerce in the region.
 

Neil Thompson, Chief Financial Officer of MAG, said:
 
“M.A.G has delivered a strong financial performance in the first six months of the year, meeting or exceeding its financial targets and continuing the growth rate delivered over the past few years.
 
“A busy summer period saw more passengers than ever before using our four airports and taking advantage of the largest number of destinations that we have ever been able to offer. Our focus on long term commercial agreements has made this possible and we continue to focus on further diversifying our route offering, particularly with regards long haul.
 
“I am especially pleased with the performance of Manchester which is reaching its record annual passenger level and Stansted which is now showing industry leading levels of passenger growth.
 
“Stansted alone has added over two million passengers since we acquired the airport in February 2013 and has begun to see substantial operational and commercial benefits from being part of the Group. Unlike other London airports, Stansted has spare runway capacity today and significant room to grow in the future and it is vital that faster rail services are delivered between London and Stansted so as to ensure that this potential is utilised.
 
“We also continue to invest significantly in our infrastructure, with the existing facilities at all four airports having been improved in the last six months.
 
“Finally, I am delighted to announce the payment of a £31 million Interim Dividend to shareholders. This is testament to the health of the business and we are confident of delivering a strong performance throughout the rest of the financial year and beyond.”